Deere & Co. (DE) Tops Q2 EPS by 66c; Cuts net income forecast
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Go back to Deere & Co. (DE) Tops Q2 EPS by 66c; Cuts net income forecast
May 17, 2024 1:57 PM EDT
Goldman Sachs analyst Jerry Revich reiterated a Buy rating and $466.00 price target on Deere (NYSE: DE).
The analyst comments "We reduce our 2024-26 EPS estimates by 13% on average following 2Q results pointed Deere taking sharper production cuts to combat rising used... More
May 16, 2024 1:43 PM EDT
Deutsche Bank analyst Nicole DeBlase raised the price target on Deere (NYSE: DE) to $402.00 (from $401.00) while maintaining a Hold rating.
The analyst comments "Despite a sizeable MSD 2Q24 core segment income beat vs. consensus/DBe, DE cut its FY24 net income guidance by 8%... More
May 16, 2024 6:26 AM EDT
Deere & Co. (NYSE: DE) reported a notable second-quarter earnings beat on Thursday, but shares fell, currently down over 3%, as the company cut its full-year net income forecast, signaling caution amid softening global agricultural demand and stable construction markets.
The world's leading tractor manufacturer posted adjusted earnings per share (EPS) of $8.53 for the quarter, surpassing analysts' expectations of $7.87. Revenue also exceeded forecasts, coming in at $15.24 billion against the consensus estimate of $13.3 billion. Despite the strong performance, the company's revised full-year net income forecast to approximately $7.0 billion, down from the previous range of $7.5-7.75 billion,... More
