Deere Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Lisa Levin
Deere & Company (NYSE:DE) is expected to report Q4 2023 earnings of $7.47 per share, slightly up from $7.44 a year ago, with revenue forecasted at $13.69 billion, down from $14.35 billion. The company had exceeded Q3 expectations and raised its FY23 net income outlook. Shares closed up 0.6% at $382.65. Analysts have revised their ratings and price targets, with changes ranging from downgrades to maintaining current ratings and adjusting price targets both up and down.
November 22, 2023 | 7:03 am
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NEUTRAL IMPACT
Deere & Company is anticipated to report a marginal increase in Q4 earnings per share with a decrease in revenue compared to last year. Analysts have mixed views, with some downgrading and others maintaining their ratings, but with varied price target adjustments.
The expected slight increase in EPS may be viewed positively, but the projected decrease in revenue could raise concerns about growth. The mixed analyst ratings and price target revisions suggest uncertainty, which could lead to a neutral short-term impact on DE's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100