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Deere (DE) Leading In Pre-Market Activity

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Deere ( DE) as a pre-market leader candidate. In addition to specific proprietary factors, Trade-Ideas identified Deere as such a stock due to the following factors:

  • DE has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $271.4 million.
  • DE traded 70,184 shares today in the pre-market hours as of 8:00 AM.
  • DE is up 2.9% today from yesterday's close.

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More details on DE:

Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The stock currently has a dividend yield of 2.4%. DE has a PE ratio of 9.5. Currently there are 2 analysts that rate Deere a buy, 7 analysts rate it a sell, and 9 rate it a hold.

The average volume for Deere has been 3.2 million shares per day over the past 30 days. Deere has a market cap of $32.1 billion and is part of the industrial goods sector and industrial industry. The stock has a beta of 1.27 and a short float of 4.8% with 5.91 days to cover. Shares are down 4.3% year-to-date as of the close of trading on Monday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Deere as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, good cash flow from operations, impressive record of earnings per share growth and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:

  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and greatly outperformed compared to the Machinery industry average. The net income increased by 17.3% when compared to the same quarter one year prior, going from $687.60 million to $806.80 million.
  • Net operating cash flow has increased to $2,666.50 million or 15.77% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 0.15%.
  • Despite the weak revenue results, DE has outperformed against the industry average of 18.3%. Since the same quarter one year prior, revenues slightly dropped by 3.5%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • DEERE & CO has improved earnings per share by 20.6% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. However, we anticipate underperformance relative to this pattern in the coming year. During the past fiscal year, DEERE & CO increased its bottom line by earning $9.08 versus $7.64 in the prior year. For the next year, the market is expecting a contraction of 6.9% in earnings ($8.45 versus $9.08).
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Machinery industry and the overall market, DEERE & CO's return on equity significantly exceeds that of both the industry average and the S&P 500.

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