What to Expect From Deere Earnings

Deere & Co. (NYSE: DE) is scheduled to report its fiscal first-quarter financial results before the markets open on Friday. The consensus estimates from Thomson Reuters are $0.70 in earnings per share (EPS) on $4.94 billion in revenue. The same period from the previous year had $1.12 in EPS on revenue of $5.6 billion.

This company has seen some headwinds from the strong dollar, but it remains a very solid long-term buy. Deere manufactures and distributes agriculture, construction and forestry equipment worldwide.

Its Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium and utility tractors; loaders; combines, corn pickers, cotton and sugarcane harvesters, and related front-end equipment and sugarcane loaders; and tillage, seeding and application equipment, including sprayers, nutrient management and soil preparation machinery.

Deere’s Construction and Forestry segment provides backhoe loaders; crawler dozers and loaders; four-wheel-drive loaders; excavators; motor graders; articulated dump trucks; landscape loaders; skid-steer loaders; and log skidders, feller bunchers, log loaders, log forwarders, log harvesters and related attachments that are used in construction, earth moving, material handling and timber harvesting applications.
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A few analysts decided to weigh in on Deere ahead of its earnings report:

• William Blair has an Underperform rating.
• UBS has a Neutral rating.
• S&P Capital IQ has a Sell Rating.
• Piper Jaffray has a Neutral rating.

So far in 2016, Deere has outperformed the market, with the stock up nearly 7% year to date. Over the past 52 weeks, the stock is down about 7%.

Shares of Deere were traded up 2.1% at $79.76 on Thursday, with a consensus analyst price target of $77.14 and a 52-week trading range of $70.16 to $98.23.