Deere’s Q2 Profit & Revenue Beat the Street; Forecast Raised (DE)

By
A A A
Share |

Farming and construction equipment maker Deere & Company ( DE ) on Wednesday posted an uptick in fiscal second quarter earnings and lifted its full-year outlook.

The Moline, IL-based company reported fiscal second quarter net income of $1.06 billion, or $2.61 per share, compared with $904 million, or $2.12 per share, in the year-ago period.

Revenue rose 12% from last year to $10 billion.

On average, Wall Street analysts expected a smaller profit of $2.53 per share, on lower revenue of $9.70 billion.

Looking ahead, DE said it now expects full-year 2012 profits of $3.35 billion, up from a prior outlook of $3.28 billion.

Deere shares rose $1.08, or +1.4%, in premarket trading Wednesday.

The Bottom Line
Shares of Deere & Company ( DE ) have a 2.40% dividend yield, based on last night's closing stock price of $76.62. The stock has technical support in the $70-$72 price area. If the shares can firm up, we see overhead resistance around the $80-$83 price levels.

Deere & Company ( DE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 0.0 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

80%

Most Active by Volume

20,700,215
  • $4.52 ▲ 3.43%
19,481,216
  • $15.64 ▲ 1.69%
16,746,983
  • $14.86 ▲ 4.43%
16,544,800
  • $96.44 ▲ 1.28%
15,299,829
  • $67.90 ▲ 2.35%
15,115,272
  • $48.726 ▲ 3.67%
13,754,795
  • $15.895 ▲ 4.64%
11,519,761
  • $54.47 ▼ 0.89%
As of 7/14/2014, 11:05 AM