Deere Q3 Earnings Beat View; Forecast Boosted (DE)

By
A A A
Share |

Farming and construction equipment maker Deere & Company ( DE ) on Wednesday posted better-than-expected fiscal third quarter earnings results and raised its full-year profit forecast.

The Moline, IL-based company reported fiscal third quarter net income of $712.3 million, or $1.69 per share, compared with $617 million, or $1.44 per share, in the year-ago period.

Revenue rose 22% from last year to $8.37 billion.

On average, Wall Street analysts expected a smaller profit of $1.67 per share on lower revenue of $7.50 billion.

Looking ahead, the company raised its full-year profit forecast to $2.7 billion, up from $2.65 billion, but still below analyst estimates for $2.72 billion.

Deere shares fell 61 cents, or -0.8%, in premarket trading Wednesday.

The Bottom Line
Shares of Deere ( DE ) have a 2.18% dividend yield, based on last night's closing stock price of $75.16. The stock has technical support in the $67-$70 price area. If the shares can firm up, we see overhead resistance around the $78-$80 price levels.

Deere & Company ( 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.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: DE

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

67%

Most Active by Volume

64,159,633
  • $100.86 ▼ 0.76%
63,552,623
  • $16.71 ▼ 0.18%
60,140,251
  • $42.71 ▲ 0.38%
52,385,870
  • $17.51 ▲ 5.86%
50,329,585
  • $13.75 ▲ 29.84%
43,337,551
  • $16.16 ▼ 1.40%
40,126,911
  • $3.605 ▲ 0.56%
39,836,742
  • $3.81 ▼ 2.56%
As of 9/16/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com