Deere cuts 2024 profit forecast as sliding farm income stifles demand
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/23/2026
- S&P 500, Nasdaq close lower, dragged by Alphabet and megacap tech; focus on Iran
- Oil settles down more 3% after US-Iran talks signal easing supply risks
- Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
- Alan Greenspan, influential former Federal Reserve chair, dies at 100
- Buy gold stocks as valuations are cheap amid macro tension: BofA
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
- Spain's ex-transport minister sentenced to 24 years for corruption
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
- Qtrex Quantum executives plan to buy up to 2M shares over 12 months
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
Goldman Sachs Reiterates Buy Rating on Deere (DE)
May 17, 2024 1:57 PM EDTGoldman 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
Deere (DE) PT Raised to $402 at Deutsche Bank
May 16, 2024 1:43 PM EDTDeutsche 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
Deere & Co. (DE) stock falls on guidance cut despite earnings beat
May 16, 2024 6:26 AM EDTDeere & 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
