More from Dividend.com
Referenced Stocks

Deere & Co. Reports a 3% Rise in Profit, But Misses Estimates; Sales Rise 14%

By Dividend.com,  November 21, 2012, 08:25:55 AM EDT

On Wednesday farming and construction equipment manufacturer Deere & Co. ( DE ) saw a rise in fourth quarter profit and sales, but earnings missed Wall Street expectations.

The Moline, Illinois-based company reported a 3% rise in fourth quarter profit to $687.6 million, or $1.75 per share, up from $669.6 million, or $1.62 per share, in the same quarter a year ago.

The company saw its sales rise 14% to $9.79 billion from the year ago period.

According to analysts polled by FactSet, DE was expected to earn $1.88 per share on sales of $8.93 billion.

Looking forward, Deere forecasts that its sales will rise about 10% in the first quarter of fiscal 2013, with sales rising 5% for the entire 2013 fiscal year. The company expects fiscal 2013 profit to be about $3.2 billion, up from $3.07 billion in 2012. On average, Wall Street expects DE to earn $3.26 billion.

Deere & Co. shares were down $2.21, or -2.57%, in premarket trading on Wednesday.

The Bottom Line
Shares of Deere & Co. ( DE ) have a 2.14% dividend yield, based on last night's closing stock price of $85.99. The stock has technical support in the $80-$81 price area. If the shares can firm up, we see overhead resistance around the $89-$91 price levels.

Deere & Co. ( DE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: DE



Latest News Video

'Black Widow' Suicide Bomber Attacks Russian Police
'Black Widow' Suicide Bomber Attack...
Allen West Will "Look Into Getting Back Into the Political Framework'
Allen West Will "Look Into Getting ...
Man Plays Guitar During Brain Surgery
Man Plays Guitar During Brain Surge...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.24 0.03  0.23%
FB $ 24.32 0.74  2.95%
SIRI $ 3.58 0.04  0.99%
GE $ 23.53 0.13  0.55%
PFE $ 29.04 0.07  0.24%
MSFT $ 34.27 0.12  0.35%
INTC $ 23.93 0.12  0.50%
P $ 16.43 0.73  4.25%