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In the latest trading session, Deere (DE) closed at $400.32, marking a -0.07% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq lost 2.05%.

Prior to today's trading, shares of the agricultural equipment manufacturer had gained 0.74% over the past month. This has outpaced the Industrial Products sector's loss of 0.97% and the S&P 500's loss of 2.57% in that time.

The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. The company is predicted to post an EPS of $7.81, indicating a 19.07% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $13.22 billion, reflecting a 17.76% fall from the equivalent quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $27.40 per share and a revenue of $47.25 billion, representing changes of -20.88% and -14.96%, respectively, from the prior year.

Any recent changes to analyst estimates for Deere should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% lower. Deere is holding a Zacks Rank of #4 (Sell) right now.

From a valuation perspective, Deere is currently exchanging hands at a Forward P/E ratio of 14.62. Its industry sports an average Forward P/E of 13.26, so one might conclude that Deere is trading at a premium comparatively.

We can also see that DE currently has a PEG ratio of 1.5. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Manufacturing - Farm Equipment industry had an average PEG ratio of 0.93 as trading concluded yesterday.

The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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