Deere & Company (DE) reported quarterly earnings results on Friday, Aug-19-2016. The company said it had a profit of $1.55 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.61. Analysts had a consensus of $0.94. The company posted revenue of $5861.00 million in the period, compared to analysts expectations of $6026.59 million. The company’s revenue was down -14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 EPS.
Many Wall Street Analysts have commented on Deere & Company. Shares were Downgraded by UBS on Jul 29, 2016 to ” Neutral” and Lowered the Price Target to $ 80 from a previous price target of $94 .Deere & Company was Downgraded by Piper Jaffray to ” Underweight” on Jul 25, 2016. Deere & Company was Upgraded by Goldman to ” Buy” on Jun 3, 2016.
Deere & Company closed down -0.72 points or -0.92% at $77.43 with 27,64,648 shares getting traded on Wednesday. Post opening the session at $78, the shares hit an intraday low of $77.24 and an intraday high of $78.31 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Dec 2, 2015, Rajesh Kalathur (Senior Vice President & CFO) sold 4,366 shares at $79.52 per share price. According to the SEC, on Jul 1, 2015, Jean H Gilles (Senior Vice President) sold 4,463 shares at $98.21 per share price. On Jun 30, 2015, Max A Guinn (President, WW C&F, Lbr Rltns) sold 14,374 shares at $97.32 per share price, according to the Form-4 filing with the securities and exchange commission.
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf construction and forestry and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts. The Company’s construction and forestry segment primarily manufactures and distributes a range of machines and service parts used in construction earthmoving material handling and timber harvesting. The Company’s financial services segment primarily provides credit services which include finance sales and leases by John Deere dealers of new and used agriculture and turf equipment and construction and forestry equipment.