Deere & Company ($DE) Stock Forecast: Up 7.2% Today

What is Deere & Company?

Deere & Company (DE) is a well-known manufacturer of agricultural and construction equipment. Today, the stock DE experienced a strong bullish movement in the market.

Why is Deere & Company going up?

DE stock is up 7.2% on Aug 15, 2024 18:57

• Deere & Company (DE) reported third-quarter earnings that surpassed both EPS and revenue estimates, showcasing the company's strong performance in a challenging economic environment.
• The positive earnings report contributed to the bullish movement in DE stock, as investors reacted favorably to the company's ability to outperform expectations.
• The overall market sentiment was also positive, with Wall Street's main indexes rising about 1% on the back of resilient consumer spending, which allayed fears of an imminent recession. This positive economic outlook likely further supported the bullish movement in DE stock.
• Despite anticipating a year-over-year decline in net income due to weak demand in its end markets, Deere's ability to beat earnings estimates for the quarter boosted investor confidence and drove the stock higher.

DE Price Chart

DE News

DE Earnings: Deere Surges Despite Mixed Q3

Deere & Company ($DE), a name synonymous with farming equipment, just reported their third-quarter earnings, which offer a mix of the good, the bad…

https://www.tipranks.com/news/de-earnings-deere-surges-despite-mixed-q3

Wall St marches ahead as retail sales quell slowdown worries

Wall Street’s main indexes rose about 1% on Thursday as retail sales data for July indicated resilient consumer spending, allaying fears of an imminent recession in the world’s biggest economy. All megacap and growth stocks edged up, with Tesla leading the pack, rising 4.1%. Nine of the 11 major S&P 500 sectors were trading higher, with consumer discretionary and materials leading gains. Retail sales increased 1.0% last month after a downwardly revised 0.2% drop in June, easing fears of a sharp economic slowdown that were fanned by a jump in the unemployment rate last week. Wall Street struggles for direction as Alphabet falls “The economy is not going into a recession imminently. This will take 50 basis points in September off the table. Still think that 25 basis points make sense just because inflation continues to ease,” said Steve Wyett, chief investment strategist at BOK Financial. The yield of the two-year and 10-year Treasury notes rose after the data, with traders increasing the bets for a 25 basis points rate cut by the Federal Reserve to 75% versus 65% before the data.

https://www.brecorder.com/news/40317673/wall-st-marches-ahead-as-retail-sales-quell-slowdown-worries

DE Stock Earnings: Deere Beats EPS, Beats Revenue for Q3 2024

Deere (NYSE: DE ) just reported results for the third quarter of 2024. Deere reported earnings per share of $6.29. This was above the analyst estimate for EPS of $5.77. The company reported revenue of $13.15 billion. This was 20.18% better than the analyst estimate for revenue of $10.94 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com. More From InvestorPlace Legendary Investor Predicts: “Forget AI… THIS Technology Is the Future” The post DE Stock Earnings: Deere Beats EPS, Beats Revenue for Q3 2024 appeared first on InvestorPlace .

https://investorplace.com/earning-results/2024/08/de-stock-earnings-deere-for-q3-of-2024/

Deere & Co. Surpasses Q3 Earnings Expectations with $6.29 EPS, $11.39B Revenue

Deere & Co. reported impressive third-quarter earnings that exceeded analyst expectations, showcasing the company''s ability to navigate a challenging economic landscape. The agricultural and construction equipment manufacturer announced adjusted earn

https://thefinancialanalyst.net/2024/08/15/deere-co-surpasses-q3-earnings-expectations-with-6-29-eps-11-39b-revenue/

Deere ( DE ) Q3 Earnings Top Estimates, Fall Y/Y on Low Volumes

Deere (DE) expects net income for fiscal 2024 to be $7 billion, which implies a year-over-year decline of 31%, anticipating weak demand in its end markets.

https://www.zacks.com/stock/news/2322607/deere-de-q3-earnings-top-estimates-fall-yy-on-low-volumes

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Deere & Company Price History

16.01.2024 - DE Stock was down 5.3%

• Deere's shares declined as the company revised its full-year guidance, attributing it to customers delaying fleet replenishment. This expectation of reduced demand could be a contributing factor to the bearish movement.
• Ford's CEO suggested that investors should redirect their attention from Tesla to Ford's "Pro" unit, potentially diverting focus away from Deere and impacting its stock performance.
• Despite experiencing a decline in sales, Deere demonstrated optimism regarding profitability during their earnings call, highlighting its strong fundamentals. However, this positive outlook may not have been sufficient to counter the prevailing bearish sentiment.
• The disclosure of a significant drop in retail sales in January m

15.01.2024 - DE Stock was down 5.5%

• DE experienced a significant downward trend today.
• For the first quarter of fiscal 2024, the company's net sales and revenue saw a decline.
• DE's guidance for FY24 was revised downward, reflecting a less optimistic outlook for its net income.
• It is likely that the pessimistic outlook for FY24 and the decrease in sales and revenue are the main factors contributing to the downward movement of DE's stock today.

15.01.2024 - DE Stock was down 5.1%

• DE experienced a decrease in net sales and revenue during the first quarter of fiscal 2024, which may have influenced the bearish movement.
• Notably, the decline in net sales was observed in the Production & Precision Agriculture and Small Agriculture & Turf segments.
• Negatively impacting DE's stock price was the less optimistic outlook for FY24.
• The market's volatility and bearish sentiment may have been further exacerbated by the anticipation of DE's upcoming earnings report.

16.01.2024 - DE Stock was down 5.3%

• Deere shares declined after the company adjusted its full-year guidance, citing customer fleet replenishment delays.
• Ford CEO, Jim Farley, advised investors to shift their focus to Ford's "Pro" unit, which he believes is the future of the auto industry. This shift in attention could have impacted DE's bearish movement.
• The S&P 500 saw gains despite a report indicating a decline in retail sales. This suggests that DE's bearish movement may be specific to the company rather than a broader market trend.
• The bearish sentiment towards DE could be linked to concerns about customer demand and competition within the industry.

15.01.2024 - DE Stock was down 5.3%

• Deere shares slid after the company adjusted its full-year outlook, potentially suggesting a slowdown in the demand for agricultural equipment.
• The performance of the non-residential construction sector, closely tied to Deere's business, expanded by approximately 20% in 2023. However, this positive trend may not have directly impacted Deere's performance, as the company's outlook for construction was downgraded.
• The decrease in retail sales in January, exceeding expectations, could have contributed to the bearish movement in Deere's stock, indicating a potentially weaker overall economic environment.
• Disappointment over Deere's lowered net income guidance for FY24 may have led to a negative market response from investors.

14.11.2023 - DE Stock was up 5.5%

• The bullish movement in DE's stock today can be attributed to the following factors:
• 1. Bullish options trends: Deep-pocketed investors have adopted a bullish approach towards DE, as indicated by significant moves in public options records. This positive sentiment could have contributed to the stock's upward movement.
• 2. Institutional investors' activity: Sustainable Insight Capital Management LLC raised its position in DE during the second quarter, while California State Teachers Retirement System trimmed its position. These contrasting moves by institutional investors might have influenced the market movement.
• 3. Overall market sentiment: The bullish movement in DE's stock could also be influenced by positive market sentiment towards the industrial products sector. As the market shows optimism in this sector, DE, being a prominent player, might have benefited from the positive sentiment.
• 4. Other factors: While not directly mentioned in the provided articles, it's worth considering that any positive news or developments related to DE's products, financial performance, or industry trends could have contributed to the bullish movement.

22.10.2023 - DE Stock was down 5.4%

• The bearish movement in DE's stock today could be attributed to the following factors:
• 1. Market Sentiment: The slight decline in overall market sentiment, as indicated by the CNN Money Fear and Greed index, may have contributed to the bearish movement in DE's stock. This suggests a cautious or negative sentiment among investors.
• 2. Earnings Expectations: With Deere & Company scheduled to release its financial results for the fourth quarter, there might be anticipation or speculation regarding the earnings report. If the market has lower expectations for the company's performance, it could lead to a bearish movement in the stock.
• 3. Mixed Trading Futures: The mixed trading futures in the U.S. stock market on Wednesday could have also influenced the bearish movement in DE's stock. Uncertainty or lack of clear direction in the broader market can impact individual stocks.
• 4. Sector Focus: The news articles primarily focus on Deere & Company, indicating that the market movement may be driven by factors specific to the company rather than broader industry trends.
• Overall, the bearish movement in DE's stock today could be a result of cautious market sentiment, anticipation of earnings release, mixed trading futures, and company-specific factors.

16.01.2024 - DE Stock was down 5.3%

• The bearish movement in DE's stock can be attributed to the following factors:
• 1. Reduced profit outlook: Deere shares slid after the company lowered its full-year guidance due to customers holding off on replenishing their fleets. This cautious approach by customers could have raised concerns about future sales and profitability, leading to a decline in the stock price.
• 2. Weaker retail sales: Despite the S&P 500 gaining, retail sales in January showed a sharper-than-anticipated decline. This negative economic data could have impacted investor sentiment and contributed to the bearish movement in DE's stock.
• 3. Construction sector performance: While the construction sector has been booming, with a 20% expansion in 2023, there were no specific positive news or developments mentioned regarding Deere's performance in this sector. This lack of positive catalysts may have also influenced the bearish movement in DE's stock.
• 4. Mixed equities market: The overall market was mixed, with U.S. equities experiencing a bearish sentiment after disappointing retail sales data. This broader market sentiment could have had a spillover effect on DE's stock, contributing to its decline.
• Overall, the bearish movement in DE's stock today can be attributed to the company's reduced profit outlook, weaker retail sales, and the broader market sentiment.

15.07.2024 - DE Stock was up 6.6%

• DE stock experienced a strong bullish movement today.
• The positive earnings report for the third quarter of 2024, where Deere beat both EPS and revenue expectations, contributed to the bullish market movement.
• The resilient consumer spending indicated by the retail sales data for July also played a role in boosting investor confidence in Deere's performance.
• Despite a year-over-year decline in net income expectations due to low volumes, Deere's ability to surpass profit targets through strong pricing strategies and cost-cutting measures impressed investors, leading to the bullish market movement.

15.07.2024 - DE Stock was up 6.8%

• Third-quarter earnings of Deere & Company (DE) surpassed expectations despite a decrease in sales and revenue, demonstrating strength through effective pricing strategies and cost controls.
• The company anticipates a 31% year-over-year drop in net income for fiscal 2024 due to soft demand in its end markets, but the market reacted positively to the earnings outperformance.
• Despite facing tough conditions in key markets, Deere's ability to exceed profit projections and uphold its annual net income forecast fueled the bullish trend in its stock.
• The market appeared more focused on the company's adeptness in cost management and pricing strategies, overshadowing worries about lower revenue and profits in the third quarter.

15.07.2024 - DE Stock was up 5.3%

• Deere & Company (DE) reported third-quarter earnings that beat estimates, despite facing challenging conditions in key markets. This positive financial performance contributed to the bullish movement in the stock.
• Despite a 17% year-over-year decline in net sales and revenue, the company's earnings per share (EPS) of $6.29 surpassed expectations. This resilience in profitability likely boosted investor confidence and drove the stock higher.
• The reaffirmation of the annual net income outlook for 2024 by Deere further reassured investors about the company's future prospects, potentially fueling the bullish momentum.
• Strong agricultural margins and the company's ability to deliver value amid market fluctuations highlighted in the earnings report likely played a significant role in driving the stock price up, despite the challenging environment in the industry.

15.07.2024 - DE Stock was up 7.2%

• Deere & Company (DE) reported third-quarter earnings that surpassed both EPS and revenue estimates, showcasing the company's strong performance in a challenging economic environment.
• The positive earnings report contributed to the bullish movement in DE stock, as investors reacted favorably to the company's ability to outperform expectations.
• The overall market sentiment was also positive, with Wall Street's main indexes rising about 1% on the back of resilient consumer spending, which allayed fears of an imminent recession. This positive economic outlook likely further supported the bullish movement in DE stock.
• Despite anticipating a year-over-year decline in net income due to weak demand in its end markets, Deere's ability to beat earnings estimates for the quarter boosted investor confidence and drove the stock higher.