What to Expect From Deere Earnings

According to Thomson Reuters, consensus analyst estimates for earnings per share is $2.20, which — if hit — would represent a decrease from the previous year’s quarter earnings per share of $2.56. Revenue for the quarter is projected to be $8.75 billion, which would represent a 6.1% drop from the previous year’s quarter revenue of $9.32 billion.

Deere earned $2.65 per share in the previous quarter, beating the $2.48 earnings per share estimate, but this did little to slow the steady fall of Deere’s shares. Perhaps the projected 7% decline in sales after a prior decline of 6% was the culprit then, but the global growth story that would support Deere and its peers has been very choppy.

Deere’s 52-week range is $80.76 to $94.89. It has consistently stayed below the $90 mark for a majority of the year. The consensus target price from analysts is $89.00.

The 200-day moving average had consistently supported the stock over this quarter until the end of July where it broke support and has remained above Deere. The 50-day moving average has restricted growth over the past quarter and every time Deere has tested this restriction it has fallen back under.