Last Updated: 15 Sep 2024
Executive Summary
Deere & Company (DE), a leading manufacturer of agricultural and construction equipment, has a strong financial position with a market capitalization of $107.98 billion. The company's fundamentals are solid, with a trailing P/E ratio of 13.46, a PEG ratio of 2.77, and a dividend yield of 1.49%. Technically, DE is trading below its 52-week high but above its 50-day and 200-day moving averages. Analysts are generally bullish on the stock, with a consensus target price of $416.17.
Company Overview
Deere & Company is a global corporation that manufactures and distributes agricultural, construction, and forestry machinery, diesel engines, drivetrains, and lawn care equipment. The company's products are used in a variety of industries, including agriculture, construction, mining, and forestry. Deere & Company has a long history of innovation and is known for its high-quality products.
Fundamental Analysis
Deere & Company's financial performance has been strong in recent years. The company's revenue has grown steadily, and its profit margins have improved. In fiscal 2023, Deere & Company reported revenue of $55.96 billion and net income of $6.7 billion. The company's EPS was $29.32, and its ROE was 35.5%.
Deere & Company's balance sheet is also strong. The company has a low level of debt and a high level of cash and equivalents. Deere & Company's current ratio is 1.5, and its debt-to-equity ratio is 0.3.
Technical Analysis
Deere & Company's stock price has been trading in a range between $340.2 and $415.84 over the past 52 weeks. The stock is currently trading at $394.68, which is below its 52-week high but above its 50-day and 200-day moving averages. The stock's RSI is 55, which indicates that it is neither overbought nor oversold.
Short Term Outlook
In the short term, Deere & Company's stock price is likely to continue trading in a range. The stock's technical indicators are neutral, and there are no major catalysts on the horizon. However, if the stock price breaks above its 52-week high, it could rally to the analyst target price of $416.17.
Long Term Outlook
In the long term, Deere & Company's stock price is likely to continue to rise. The company's fundamentals are strong, and the demand for its products is expected to grow in the coming years. Deere & Company is a well-managed company with a strong brand name. The company is well-positioned to continue to grow its business and generate shareholder value.
Analyst Recommendations
Analysts are generally bullish on Deere & Company's stock. The consensus target price is $416.17, which represents a potential upside of 5.5% from the current price. Five analysts have a strong buy rating on the stock, eight have a buy rating, and 11 have a hold rating. There are no sell or strong sell ratings on the stock.
