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Shares of Deere rise as financial results exceed expectations

24 November 2022 By Klavs Valters

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Shares of Deere rise as financial results exceed expectations

Deere & Company (NYSE: DE) announced financial results on Wednesday for the fourth quarter that ended on October 30, 2022.

The US manufacturer of farm machinery and industrial equipment reported revenue of $15.536 billion for the quarter, which was above analyst forecast of $13.443 billion.

Earnings per share reported at $7.44 per share vs. $7.112 per share expected.

”Deere’s strong performance for both the fourth quarter and full year is a tribute to our dedicated team of employees, dealers, and suppliers throughout the world,” John C. May, CEO of the company said in a statement.

”We’re proud of their extraordinary efforts to overcome supply-chain constraints, increase factory production, and deliver products to our customers,” he added.

The stock was up by around 5% on Wednesday, trading at $441.33.

 

Stock performance

  • 1 month: +12.79%
  • 3 month: +69%
  • Year-to-date: +67%
  • 1 year: +94%

Deere & Company price targets

  • Deutsche Bank: $374
  • Goldman Sachs: $420
  • Argus Research: $420
  • Citigroup: $425
  • Morgan Stanley: $424
  • Credit Suisse: $447
  • Wells Fargo: $423
  • Oppenheimer: $365
  • Jefferies: $400
  • JP Morgan: $325

Deere & Company is the 84th largest company in the world with a market cap of $132.90 billion.

You can trade Deere & Company (NYSE: DE) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.

Sources: Deere & Company, TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap

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