Deere Q4 Earnings Preview: What Wall Street's Top Analysts Are Saying

MarketDash Editorial Team

12 days ago

Deere & Company reports fourth quarter earnings on Wednesday, with analysts expecting a decline in earnings per share. Here's how the most accurate Wall Street analysts have adjusted their forecasts heading into the print.

Deere & Company (DE) is set to report fourth quarter earnings before the market opens on Wednesday, November 26, and Wall Street is bracing for a year-over-year decline.

Analysts are expecting the Moline, Illinois-based equipment manufacturer to post earnings of $3.83 per share, down from $4.55 per share in the same quarter last year. That's a notable drop, though the company has established quite a track record recently: Deere has beaten analyst revenue estimates for more than 10 straight quarters.

The revenue consensus sits at $9.81 billion for the quarter, compared to $9.28 billion a year ago. So while earnings per share may be declining, the top line is still expected to grow.

Shares of Deere climbed 2.2% on Tuesday to close at $498.13, suggesting investors are relatively optimistic heading into the print.

What the Most Accurate Analysts Are Saying

The picture from Wall Street's most accurate analysts is decidedly mixed. Here's how they've positioned themselves in recent months:

UBS analyst Steven Fisher upgraded Deere from Neutral to Buy on October 17, though he trimmed his price target from $545 to $535. Fisher has a 72% accuracy rate on his calls.

JP Morgan analyst Tami Zakaria maintained a Neutral rating on October 14 but cut her price target from $495 to $480. Zakaria's accuracy rate stands at 70%.

Truist Securities analyst Jamie Cook kept a Buy rating on October 8 and actually raised her price target from $602 to $609, the most bullish view of the bunch. Cook has a 71% accuracy rate.

Oppenheimer analyst Noah Kaye maintained an Outperform rating on September 18 but reduced his target from $566 to $512. Kaye has a 72% accuracy rate.

Baird analyst Mircea Dobre held a Neutral rating on August 15 and slashed his price target from $520 to $488. Dobre has the highest accuracy rate of the group at 75%.

The range of price targets from $480 to $609 tells you everything you need to know about the uncertainty surrounding Deere's near-term prospects. With Wednesday's earnings report on deck, we'll soon see which camp gets it right.

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Deere Q4 Earnings Preview: What Wall Street's Top Analysts Are Saying

MarketDash Editorial Team

12 days ago

Deere & Company (DE) is set to report fourth quarter earnings before the market opens on Wednesday, November 26, and Wall Street is bracing for a year-over-year decline.

The revenue consensus sits at $9.81 billion for the quarter, compared to $9.28 billion a year ago. So while earnings per share may be declining, the top line is still expected to grow.

Shares of Deere climbed 2.2% on Tuesday to close at $498.13, suggesting investors are relatively optimistic heading into the print.

What the Most Accurate Analysts Are Saying

The picture from Wall Street's most accurate analysts is decidedly mixed. Here's how they've positioned themselves in recent months:

UBS analyst Steven Fisher upgraded Deere from Neutral to Buy on October 17, though he trimmed his price target from $545 to $535. Fisher has a 72% accuracy rate on his calls.

JP Morgan analyst Tami Zakaria maintained a Neutral rating on October 14 but cut her price target from $495 to $480. Zakaria's accuracy rate stands at 70%.

Truist Securities analyst Jamie Cook kept a Buy rating on October 8 and actually raised her price target from $602 to $609, the most bullish view of the bunch. Cook has a 71% accuracy rate.

Oppenheimer analyst Noah Kaye maintained an Outperform rating on September 18 but reduced his target from $566 to $512. Kaye has a 72% accuracy rate.

Baird analyst Mircea Dobre held a Neutral rating on August 15 and slashed his price target from $520 to $488. Dobre has the highest accuracy rate of the group at 75%.