|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||128.13 - 129.17|
|52-week range||85.62 - 132.50|
|PE ratio (TTM)||21.45|
|Earnings date||22 Nov 2017|
|Forward Dividend & Yield||2.40 (1.87%)|
|1y target est||130.37|
It took 107 pages to publish a ruling that bans any farm-machinery maker except Deere & Co. from using green in combination with yellow for their equipment.
Deere & Co reported quarterly sales below estimates and its full-year farm equipment sales forecast indicated sluggish demand for its trademark green tractors and harvesting combines in the United States, sending its shares down 9 percent. While analysts have said the weakness in the farm sector has bottomed out, bumper corn and soybeans harvests in the United States have kept prices low, leaving farmers with less cash to spend on farm equipment. "Investors have rewarded Deere shares with meaningful multiple expansion as (agriculture) markets have bottomed and management made visible and meaningful progress on cost reduction," Dobre noted.
Deere & Co raised its full-year sales and profit forecast for the second time, as demand improves for its farm and construction equipment, particularly in South America, sending its shares to a record high of $122.22. The company said it expected fiscal 2017 industry sales of tractors and combined harvesters in South America to be at the high-end of its earlier forecast of about 15-20 percent rise, buoyed by improving economic conditions in Brazil and Argentina. While farmers in South America have been complaining about low prices, they have enjoyed big gains in corn and soybean output.