News & Analysis

Shares of Deere rise as financial results exceed expectations

24 November 2022 By Klavs Valters

Share

Shares of Deere rise as financial results exceed expectations

Deere & Company (NYSE: DE) announced financial results on Wednesday for the fourth quarter that ended on October 30, 2022.

The US manufacturer of farm machinery and industrial equipment reported revenue of $15.536 billion for the quarter, which was above analyst forecast of $13.443 billion.

Earnings per share reported at $7.44 per share vs. $7.112 per share expected.

”Deere’s strong performance for both the fourth quarter and full year is a tribute to our dedicated team of employees, dealers, and suppliers throughout the world,” John C. May, CEO of the company said in a statement.

”We’re proud of their extraordinary efforts to overcome supply-chain constraints, increase factory production, and deliver products to our customers,” he added.

The stock was up by around 5% on Wednesday, trading at $441.33.

 

Stock performance

  • 1 month: +12.79%
  • 3 month: +69%
  • Year-to-date: +67%
  • 1 year: +94%

Deere & Company price targets

  • Deutsche Bank: $374
  • Goldman Sachs: $420
  • Argus Research: $420
  • Citigroup: $425
  • Morgan Stanley: $424
  • Credit Suisse: $447
  • Wells Fargo: $423
  • Oppenheimer: $365
  • Jefferies: $400
  • JP Morgan: $325

Deere & Company is the 84th largest company in the world with a market cap of $132.90 billion.

You can trade Deere & Company (NYSE: DE) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.

Sources: Deere & Company, TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap

Ready to start trading?

Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.