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720700.0
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2023-03-13 00:00:00 UTC
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Donaldson (DCI) Exhibits Strong Prospects Despite Headwinds
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DE
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https://www.nasdaq.com/articles/donaldson-dci-exhibits-strong-prospects-despite-headwinds
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nan
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Donaldson Company, Inc. DCI is benefiting from its presence in diverse end markets, including construction, mining, aerospace, defense, and food & beverage. Also, a strong product portfolio, solid demand and a focus on innovation are other tailwinds for DCI.
Mobile Solutions’ sales are driven by growth in On-Road and Off-Road sales, supported by elevated levels of medium and heavy-duty equipment production. Aftermarket sales are benefiting from improved global supply-chain conditions. Sales growth in industrial filtration solutions and aerospace and defense is aiding Industrial Solutions sales.
The company’s acquisition of Isolere Bio (February 2023) enabled it to create leading separation and filtration solutions for emerging genetic-based drugs. Also, the buyout of Purilogics, LLC (June 2022) strengthened DCI’s life sciences portfolio by leveraging the acquired entity’s unique product offerings. The acquisition of Solaris Biotechnology (in November 2021) strengthened its presence across several end markets, including food and beverage, biopharma and other major life sciences. Also, DCI acquired Pearson Arnold Industrial Services in the same month. Acquired assets are strengthening DCI’s top line.
DCI’s efforts to reward its shareholders through dividend payments and share repurchases are noteworthy. Donaldson paid out dividends worth $110.1 million and repurchased shares worth $170.6 million during fiscal 2022 (ended July 2022). In the first six months of fiscal 2023 (ended Jan 31, 2023), its dividend payments totaled $56.2 million. The company bought back shares worth $115.2 million in the same period. The board also announced a 4.5% hike in its quarterly dividend rate in May 2022.
However, Donaldson’s Life Sciences Segment is experiencing weakness due to continued disk drive market weakness. For fiscal 2023, management anticipates sales in the Life Sciences Segment to decline 5-9%. Supply-chain issues are added concerns for the company. High costs of raw materials, labor and freight are also weighing on Donaldson. For fiscal 2023, the company expects continued pressures from the high costs of raw materials, freight and labor.
Given DCI’s global presence, it is exposed to various environmental laws and regulations in the countries it operates. Also, Donaldson remains vulnerable to foreign currency and geopolitical issues. In second-quarter fiscal 2023, foreign currency translation had a negative impact of 4.3% on sales. The company anticipates foreign exchange headwinds to have an adverse impact of approximately 4% on its sales in fiscal 2023 (ending July 2023).
In the past six months, this current Zacks Rank #3 (Hold) stock has gained 23.2% compared with the industry’s rise of 4.7%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
Deere & Company DE presently sports a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, Deere & Company’s earnings estimates have increased 8.7% for fiscal 2023. The stock has rallied 9.8% in the past six months.
Ingersoll Rand Inc. IR presently carries a Zacks Rank #2 (Buy). IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, Ingersoll Rand’s earnings estimates have increased 1.7% for 2023. The stock has gained 12.4% in the past six months.
AGCO Corporation AGCO presently has a Zacks Rank of 2. AGCO’s earnings surprise in the last four quarters was 13.4%, on average.
In the past 60 days, AGCO’s earnings estimates have increased 2.2% for 2023. The stock has rallied 21.7% in the past six months.
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Deere & Company (DE) : Free Stock Analysis Report
AGCO Corporation (AGCO) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
Donaldson Company, Inc. (DCI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Donaldson Company, Inc. DCI is benefiting from its presence in diverse end markets, including construction, mining, aerospace, defense, and food & beverage. Also, a strong product portfolio, solid demand and a focus on innovation are other tailwinds for DCI. Sales growth in industrial filtration solutions and aerospace and defense is aiding Industrial Solutions sales.
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Donaldson Company, Inc. DCI is benefiting from its presence in diverse end markets, including construction, mining, aerospace, defense, and food & beverage. Donaldson paid out dividends worth $110.1 million and repurchased shares worth $170.6 million during fiscal 2022 (ended July 2022). Click to get this free report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report Donaldson Company, Inc. (DCI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Stocks to Consider Some better-ranked companies from the Industrial Products sector are discussed below: Click to get this free report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report Donaldson Company, Inc. (DCI) : Free Stock Analysis Report To read this article on Zacks.com click here. Donaldson Company, Inc. DCI is benefiting from its presence in diverse end markets, including construction, mining, aerospace, defense, and food & beverage.
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Sales growth in industrial filtration solutions and aerospace and defense is aiding Industrial Solutions sales. In the past 60 days, Deere & Company’s earnings estimates have increased 8.7% for fiscal 2023. Donaldson Company, Inc. DCI is benefiting from its presence in diverse end markets, including construction, mining, aerospace, defense, and food & beverage.
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6b688d3e-28bb-4c11-a714-6a76be73f30b
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720701.0
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2023-03-13 00:00:00 UTC
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Is Deere (DE) a Buy as Wall Street Analysts Look Optimistic?
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DE
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https://www.nasdaq.com/articles/is-deere-de-a-buy-as-wall-street-analysts-look-optimistic-0
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The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?
Let's take a look at what these Wall Street heavyweights have to say about Deere (DE) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
Deere currently has an average brokerage recommendation (ABR) of 1.74, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 19 brokerage firms. An ABR of 1.74 approximates between Strong Buy and Buy.
Of the 19 recommendations that derive the current ABR, 12 are Strong Buy, representing 63.2% of all recommendations.
Brokerage Recommendation Trends for DE
Check price target & stock forecast for Deere here>>>
The ABR suggests buying Deere, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABR
In spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Is DE a Good Investment?
Looking at the earnings estimate revisions for Deere, the Zacks Consensus Estimate for the current year has increased 9.2% over the past month to $30.47.
Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Deere. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, the Buy-equivalent ABR for Deere may serve as a useful guide for investors.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, the Buy-equivalent ABR for Deere may serve as a useful guide for investors. The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
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Looking at the earnings estimate revisions for Deere, the Zacks Consensus Estimate for the current year has increased 9.2% over the past month to $30.47. The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
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Deere currently has an average brokerage recommendation (ABR) of 1.74, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, the Buy-equivalent ABR for Deere may serve as a useful guide for investors. The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock.
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You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, the Buy-equivalent ABR for Deere may serve as a useful guide for investors. The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
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a1dbcacd-793a-4d48-9f69-e70d6f512fe6
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720702.0
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2023-03-12 00:00:00 UTC
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Caterpillar union workers vote in favor of six-year labor agreement
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DE
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https://www.nasdaq.com/articles/caterpillar-union-workers-vote-in-favor-of-six-year-labor-agreement
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nan
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Adds details, background
March 12 (Reuters) - The United Auto Workers (UAW) union said members at four local chapters working at Caterpillar CAT.N have voted in favor of a new six-year labor contract with the firm, preventing a strike at the world's largest construction and mining equipment-maker.
Unionized workers unanimously accepted the deal that outlined a 27% combined wage increase and lump sums over the six-year period, a bump in employer contributions to retirement plans, and a $6,000 bonus.
"The terms of the contract are effective immediately (March 13)," UAW said in a statement on Sunday.
Additionally, the latest deal included a moratorium on plant closures after years of CAT shifting production to other U.S. facilities and shuttering its Aurora, Illinois factory in 2017.
The contract covers roughly 7,000 union workers at plants in central Illinois and a parts distribution center in York, Pennsylvania. It wasn't immediately clear how many members voted to ratify the contract.
Local union leaders at Caterpillar said in a statement that they were pleased to have reached an agreement with management to avoid a strike that its rivals Deere & Co. DE.N and CNH Industrial went through.
Rank and file union workers at the company have expressed anger and frustration over the deal, saying that wage increases weren't commensurate in the face of rising inflation.
But some members believe the new contract is the best CAT has offered in years, after they agreed to company concessions in previous deals that froze wages during the great recession.
"It's a decent contract and I just want it behind us at this point," a 40-year-old lathe operator who has worked at a Caterpillar plant in Peoria, IL since 2006 told Reuters, but the operator was not authorised to speak to the media.
The UAW's contract ratification with Caterpillar comes just six months ahead of the deadline for the union and the three Detroit automakers concluding new master contracts covering roughly 143,000 workers.
(Reporting by Bianca Flowers and Mrinmay Dey in Bengaluru; Editing by Rashmi Aich)
((Mrinmay.Dey@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details, background March 12 (Reuters) - The United Auto Workers (UAW) union said members at four local chapters working at Caterpillar CAT.N have voted in favor of a new six-year labor contract with the firm, preventing a strike at the world's largest construction and mining equipment-maker. Unionized workers unanimously accepted the deal that outlined a 27% combined wage increase and lump sums over the six-year period, a bump in employer contributions to retirement plans, and a $6,000 bonus. Rank and file union workers at the company have expressed anger and frustration over the deal, saying that wage increases weren't commensurate in the face of rising inflation.
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Adds details, background March 12 (Reuters) - The United Auto Workers (UAW) union said members at four local chapters working at Caterpillar CAT.N have voted in favor of a new six-year labor contract with the firm, preventing a strike at the world's largest construction and mining equipment-maker. The UAW's contract ratification with Caterpillar comes just six months ahead of the deadline for the union and the three Detroit automakers concluding new master contracts covering roughly 143,000 workers. Unionized workers unanimously accepted the deal that outlined a 27% combined wage increase and lump sums over the six-year period, a bump in employer contributions to retirement plans, and a $6,000 bonus.
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Adds details, background March 12 (Reuters) - The United Auto Workers (UAW) union said members at four local chapters working at Caterpillar CAT.N have voted in favor of a new six-year labor contract with the firm, preventing a strike at the world's largest construction and mining equipment-maker. The UAW's contract ratification with Caterpillar comes just six months ahead of the deadline for the union and the three Detroit automakers concluding new master contracts covering roughly 143,000 workers. Unionized workers unanimously accepted the deal that outlined a 27% combined wage increase and lump sums over the six-year period, a bump in employer contributions to retirement plans, and a $6,000 bonus.
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Rank and file union workers at the company have expressed anger and frustration over the deal, saying that wage increases weren't commensurate in the face of rising inflation. But some members believe the new contract is the best CAT has offered in years, after they agreed to company concessions in previous deals that froze wages during the great recession. Adds details, background March 12 (Reuters) - The United Auto Workers (UAW) union said members at four local chapters working at Caterpillar CAT.N have voted in favor of a new six-year labor contract with the firm, preventing a strike at the world's largest construction and mining equipment-maker.
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48020a09-ddbb-4421-a4e9-f13cc94e5bc4
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720703.0
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2023-03-10 00:00:00 UTC
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Here's Why It is Worth Retaining Barnes (B) Stock Now
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DE
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https://www.nasdaq.com/articles/heres-why-it-is-worth-retaining-barnes-b-stock-now
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nan
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nan
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Barnes Group Inc. B is benefiting from its focus on innovation, strategic marketing and commercial excellence, and solid operational execution despite challenges related to supply chain and inflationary pressures.
Healthy aftermarket business, including maintenance, repair, and overhaul (MRO) and spare parts (RSP programs) sales growth is benefiting the Aerospace segment. Also, robust Original Equipment Manufacturing (OEM) order bodes well for the segment. The company anticipates adjusted earnings of $2.10-$2.30 per share for 2023, reflecting an increase of 6-16% from the year-ago reported figure.
Barnes’ efforts to reward its shareholders through dividend payments and share buybacks are encouraging. It paid out dividends worth $32.4 million to its shareholders in 2022. Also, while exiting the fourth quarter of 2022, the company was left to repurchase 3.4 million shares under its previously approved share buyback program. In 2021, Barnes paid out dividends worth $32.4 million to its shareholders and repurchased shares worth $5.2 million. The buybacks were made to neutralize the impact of equity compensation dilution.
The company’s efforts to reduce debt levels bode well. Its cash and cash equivalents at the end of the fourth quarter were $76.9 million, higher than the current portion of long-term debt of $1.4 million. This implies that the company has sufficient cash to meet its short-term debt obligations.
In light of the above-mentioned positives, we believe, investors should retain B stock for now, as suggested by its current Zacks Rank #3 (Hold). In the past six months, the stock has rallied 20.6% compared to the industry’s 9% increase.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
Deere & Company DE presently sports a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, earnings estimates for Deere & Company have increased 8% for fiscal 2023. The stock has rallied 12.6% in the past six months.
Ingersoll Rand Inc. IR presently carries a Zacks Rank #2 (Buy). IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 3%. The stock has gained 12.8% in the past six months.
AGCO Corporation AGCO presently has a Zacks Rank of 2. AGCO’s earnings surprise in the last four quarters was 13.4%, on average.
In the past 60 days, earnings estimates for AGCO have increased 2.2% for 2023. The stock has rallied 19.8% in the past six months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
AGCO Corporation (AGCO) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
Barnes Group, Inc. (B) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Barnes Group Inc. B is benefiting from its focus on innovation, strategic marketing and commercial excellence, and solid operational execution despite challenges related to supply chain and inflationary pressures. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. Also, robust Original Equipment Manufacturing (OEM) order bodes well for the segment.
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In 2021, Barnes paid out dividends worth $32.4 million to its shareholders and repurchased shares worth $5.2 million. In the past 60 days, earnings estimates for Deere & Company have increased 8% for fiscal 2023. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report Barnes Group, Inc. (B) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Also, while exiting the fourth quarter of 2022, the company was left to repurchase 3.4 million shares under its previously approved share buyback program. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report Barnes Group, Inc. (B) : Free Stock Analysis Report To read this article on Zacks.com click here. Barnes Group Inc. B is benefiting from its focus on innovation, strategic marketing and commercial excellence, and solid operational execution despite challenges related to supply chain and inflationary pressures.
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In the past 60 days, earnings estimates for Deere & Company have increased 8% for fiscal 2023. Barnes Group Inc. B is benefiting from its focus on innovation, strategic marketing and commercial excellence, and solid operational execution despite challenges related to supply chain and inflationary pressures. Also, robust Original Equipment Manufacturing (OEM) order bodes well for the segment.
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7a75c207-cf63-4e2e-87dc-a6b83322e8e7
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720704.0
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2023-03-10 00:00:00 UTC
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Why 2 Giant Industrial Stocks Dropped Like a Rock Friday
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DE
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https://www.nasdaq.com/articles/why-2-giant-industrial-stocks-dropped-like-a-rock-friday
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nan
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The stock market had another tough day on Friday as investors responded to the failure of another sizable U.S. bank. The Nasdaq Composite (NASDAQINDEX: ^IXIC) was the big loser once again, but declines for the Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) amounted to more than 1%.
INDEX
DAILY PERCENTAGE CHANGE
DAILY POINT CHANGE
Dow
(1.07%)
(345)
S&P 500
(1.45%)
(57)
Nasdaq
(1.76%)
(199)
Data source: Yahoo! Finance.
With questions arising about the stability of the financial system, it wasn't a big surprise to see weakness in the banking sector. Yet what did come as a shock to some was that industrial giants Caterpillar (NYSE: CAT) and Deere (NYSE: DE) were both down as well. The moves lower show that availability of capital is something that matters not just among financial stocks but across the economy, and it shows that there can be exposure in places many investors wouldn't expect to see it.
Caterpillar gets a downgrade
Shares of Caterpillar fell 6% on Friday. The maker of heavy construction equipment got negative comments from Wall Street analysts, albeit with only modest expectations for share-price declines from current levels.
Analysts at UBS downgraded shares of Caterpillar from neutral to sell. They also reduced their share price target by $5 to $225 per share. The analysts believe that shareholders aren't fully appreciating the likelihood of a cyclical downturn that could hurt revenue and earnings going forward, particularly given that backlog levels aren't growing as fast as they have been recently.
The day's decline brought Caterpillar's stock price to $227, just above the revised price target UBS set. Therefore, it's unclear whether analysts would expect the story ahead to justify a further drop in the stock, even if a sell rating would normally imply that expectation.
Caterpillar combines a sizable dividend with growth potential going forward, and in the long run, few doubt the construction equipment manufacturer's ability to excel. However, that doesn't make the business immune from economic problems, and that's a big part of why the stock dropped today.
Are investors worried about credit?
However, there was another facet to the decline in Caterpillar, and it helps explain why rival Deere was also sharply lower. The farm equipment specialist matched Caterpillar's 6% stock decline.
Both Caterpillar and Deere have financial arms that assist customers and dealers with financing options for equipment purchases. The equipment that the two companies sell is expensive, and so it's typical for customers to need viable ways to pay off their purchases over time.
Cat Financial posted a profit of $535 million in 2022 on revenue of $2.73 billion, making a significant contribution to Caterpillar's overall earnings. Similarly, Deere's financial services segment made an $880 million contribution to net income, which was between 12% and 13% of Deere's overall net income for fiscal 2022.
Liquidity is an important aspect of financing operations, and if the banking environment leads to less liquidity in the financial system, it could eventually pose challenges for the financing arms of Deere and Caterpillar. Add to that the general nervousness about the state of the consumer and business economy and the potential impact on purchases of big-ticket heavy equipment in 2023, and it's natural to see some concern about the near-term prospects for these two stocks.
Few market participants believe that a systemic shock of the magnitude of the financial crisis in 2008 and 2009 lies ahead. However, even a smaller disruption could be enough to show up in the results of some companies that many might think wouldn't have exposure to it.
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Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool recommends Deere. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The maker of heavy construction equipment got negative comments from Wall Street analysts, albeit with only modest expectations for share-price declines from current levels. Caterpillar combines a sizable dividend with growth potential going forward, and in the long run, few doubt the construction equipment manufacturer's ability to excel. The stock market had another tough day on Friday as investors responded to the failure of another sizable U.S. bank.
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Yet what did come as a shock to some was that industrial giants Caterpillar (NYSE: CAT) and Deere (NYSE: DE) were both down as well. The day's decline brought Caterpillar's stock price to $227, just above the revised price target UBS set. Both Caterpillar and Deere have financial arms that assist customers and dealers with financing options for equipment purchases.
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Liquidity is an important aspect of financing operations, and if the banking environment leads to less liquidity in the financial system, it could eventually pose challenges for the financing arms of Deere and Caterpillar. The stock market had another tough day on Friday as investors responded to the failure of another sizable U.S. bank. The Nasdaq Composite (NASDAQINDEX: ^IXIC) was the big loser once again, but declines for the Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) amounted to more than 1%.
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The stock market had another tough day on Friday as investors responded to the failure of another sizable U.S. bank. Analysts at UBS downgraded shares of Caterpillar from neutral to sell. The Nasdaq Composite (NASDAQINDEX: ^IXIC) was the big loser once again, but declines for the Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) amounted to more than 1%.
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6445aa6a-aa9f-4aea-95b7-b9bddc73ca57
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720705.0
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2023-03-10 00:00:00 UTC
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Notable ETF Outflow Detected - IVV, UNH, LIN, DE
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DE
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https://www.nasdaq.com/articles/notable-etf-outflow-detected-ivv-unh-lin-de
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P 500 ETF (Symbol: IVV) where we have detected an approximate $177.1 million dollar outflow -- that's a 0.1% decrease week over week (from 746,800,000 to 746,350,000). Among the largest underlying components of IVV, in trading today UnitedHealth Group Inc (Symbol: UNH) is up about 0.3%, Linde PLC (Symbol: LIN) is up about 0.1%, and Deere & Co. (Symbol: DE) is lower by about 3.2%. For a complete list of holdings, visit the IVV Holdings page » The chart below shows the one year price performance of IVV, versus its 200 day moving average:
Looking at the chart above, IVV's low point in its 52 week range is $349.53 per share, with $464.05 as the 52 week high point — that compares with a last trade of $390.84. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
Institutional Holders of SCHC
GET Historical Stock Prices
Funds Holding JHMB
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. Click here to find out which 9 other ETFs experienced notable outflows » Also see: Institutional Holders of SCHC GET Historical Stock Prices Funds Holding JHMB The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For a complete list of holdings, visit the IVV Holdings page » The chart below shows the one year price performance of IVV, versus its 200 day moving average: Looking at the chart above, IVV's low point in its 52 week range is $349.53 per share, with $464.05 as the 52 week high point — that compares with a last trade of $390.84. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed).
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P 500 ETF (Symbol: IVV) where we have detected an approximate $177.1 million dollar outflow -- that's a 0.1% decrease week over week (from 746,800,000 to 746,350,000). For a complete list of holdings, visit the IVV Holdings page » The chart below shows the one year price performance of IVV, versus its 200 day moving average: Looking at the chart above, IVV's low point in its 52 week range is $349.53 per share, with $464.05 as the 52 week high point — that compares with a last trade of $390.84. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P 500 ETF (Symbol: IVV) where we have detected an approximate $177.1 million dollar outflow -- that's a 0.1% decrease week over week (from 746,800,000 to 746,350,000). For a complete list of holdings, visit the IVV Holdings page » The chart below shows the one year price performance of IVV, versus its 200 day moving average: Looking at the chart above, IVV's low point in its 52 week range is $349.53 per share, with $464.05 as the 52 week high point — that compares with a last trade of $390.84. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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8ca0463b-b561-450e-b37f-a29ff0923dd1
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720706.0
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2023-03-10 00:00:00 UTC
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General Electric (GE) Shares Jump on Bullish Aerospace Outlook
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DE
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https://www.nasdaq.com/articles/general-electric-ge-shares-jump-on-bullish-aerospace-outlook
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nan
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nan
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General Electric’s GE shares popped 5.3% at the close of business on Mar 9, as the company provided a bullish long-term view for its Aerospace segment at the annual investor conference. The stock rose 9.2% intraday on Mar 9, reaching its highest level since 2018.
GE’s Aerospace segment is growing on the back of a continued increase in commercial air-travel demand and higher spending in the defense market due to heightened global instability. For 2025, the company expects the segment’s revenues to increase in the low double digits to mid-teens. It expects a profit margin of 25% for the year and a free cash flow conversion of more than 100%.
For the long term, General Electric predicts mid-single to high-single-digit revenue growth for the Aerospace segment. It expects to continue margin expansion for the unit over the long term. Free cash is estimated to be in line with net income over the long term.
General Electric Company Price
General Electric Company price | General Electric Company Quote
For 2023, General Electric has reiterated its guidance for the Aerospace segment. It expects organic growth of mid-to-high teens in the year. Operating profit is anticipated to be between $5.3 billion and $5.7 billion. Free cash flow is expected to increase year over year in 2023 for the unit.
General Electric also expects long-term growth and improving margins across GE Vernova (combined operations of Power and Renewable Energy). After months of softness, Power segment demand rebounded in the fourth quarter of 2022, with onshore orders in North America more than doubling and higher aeroderivative unit shipments. However, the Renewable Energy segment remains weak due to lower US onshore wind volumes and continued pressure from onshore North American market dynamics. Revenues in the segment fell 17% year over year in 2022, with a 19% decline in orders.
For 2023, General Electric expects a loss of $200-$600 million for GE Vernova. Organic revenue growth is forecasted to be in the low-single-digit to mid-single-digit range for the ongoing year. It expects the division to be profitable in 2024 with a mid-single-digit profit margin. Over the long term, the company expects mid-single-digit revenue growth for the division and a high-single-digit profit margin. Free cash flow conversion is expected to be 90-110% over the long term.
As part of its portfolio reshaping actions, General Electric plans to split its business into three independent companies — GE Healthcare, GE Aviation, and GE Vernova — combining the operations of Renewable Energy and GE Power.
The healthcare business separation has already been completed in January. The separation of GE Vernova is expected to be completed in 2024, following which GE will operate as an aviation-focused company. The tax-free spin-offs are expected to strengthen each company’s operating performance and financial position.
2023 Guidance Reaffirmed
Despite persistent supply-chain headwinds and raw material cost inflation, General Electric has reiterated its 2023 guidance. The company expects high-single-digit organic revenue growth in the year. Adjusted earnings are expected to more than double to $1.60-$2.00 per share. Free cash flow is estimated to be $3.4-$4.2 billion in the year.
Zacks Rank & Key Picks
General Electric currently carries a Zacks Rank #5 (Strong Sell).
Here are some better-ranked stocks for your consideration:
Deere & Company DE currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Deere has an estimated earnings growth rate of 30% for the current fiscal year. The stock has gained 13% in the past six months.
Ingersoll Rand IR presently carries a Zacks Rank #2 (Buy). The company delivered a four-quarter earnings surprise of 8.5%, on average.
Ingersoll Rand has an estimated earnings growth rate of approximately 3% for the current year. The stock has rallied approximately 13% in the past six months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
General Electric Company (GE) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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General Electric’s GE shares popped 5.3% at the close of business on Mar 9, as the company provided a bullish long-term view for its Aerospace segment at the annual investor conference. GE’s Aerospace segment is growing on the back of a continued increase in commercial air-travel demand and higher spending in the defense market due to heightened global instability. After months of softness, Power segment demand rebounded in the fourth quarter of 2022, with onshore orders in North America more than doubling and higher aeroderivative unit shipments.
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Click to get this free report General Electric Company (GE) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. General Electric’s GE shares popped 5.3% at the close of business on Mar 9, as the company provided a bullish long-term view for its Aerospace segment at the annual investor conference. GE’s Aerospace segment is growing on the back of a continued increase in commercial air-travel demand and higher spending in the defense market due to heightened global instability.
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As part of its portfolio reshaping actions, General Electric plans to split its business into three independent companies — GE Healthcare, GE Aviation, and GE Vernova — combining the operations of Renewable Energy and GE Power. Click to get this free report General Electric Company (GE) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. General Electric’s GE shares popped 5.3% at the close of business on Mar 9, as the company provided a bullish long-term view for its Aerospace segment at the annual investor conference.
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General Electric’s GE shares popped 5.3% at the close of business on Mar 9, as the company provided a bullish long-term view for its Aerospace segment at the annual investor conference. GE’s Aerospace segment is growing on the back of a continued increase in commercial air-travel demand and higher spending in the defense market due to heightened global instability. After months of softness, Power segment demand rebounded in the fourth quarter of 2022, with onshore orders in North America more than doubling and higher aeroderivative unit shipments.
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a0e6f62e-a7bc-4403-b85c-5b4fe7f4177e
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720707.0
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2023-03-10 00:00:00 UTC
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Honeywell (HON), Marriott Unite to Boost Guest Experience
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https://www.nasdaq.com/articles/honeywell-hon-marriott-unite-to-boost-guest-experience
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nan
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Honeywell International Inc. HON recently entered into a partnership with Marriott International to enhance in-room control and comfort for guests staying at Marriott hotels.
Honeywell and the Marriott Design Lab will analyze various opportunities to test and deploy personalized guestroom control offerings, building on the Honeywell INNCOM product suite, which includes features like guestroom automation, energy management and operational efficiency offerings.
Honeywell and Marriott Design Lab will inspect how a guest’s interactions with technology can affect mood and energy and will predict a guest’s desire to offer them a solution that will be dedicated only to them. The two companies will also work together to create a guestroom experience that is more accessible, customized and inclusive.
Honeywell International Inc. Price
Honeywell International Inc. price | Honeywell International Inc. Quote
“Technology can help create a more intuitive in-room experience for guests. Imagine arriving to your hotel room after a long day of travel and it’s already adjusted to your preferred settings – from temperature, lighting and even the drapes,” said Steve Kenny, vice president and general manager of building management systems, Honeywell Building Technologies. “Together with Marriott, we have an opportunity to create a next-generation guest experience that is intuitive, engaging and authentic. We want travelers to feel like they are not just staying somewhere but have a personalized experience.”
Zacks Rank and Stocks to Consider
HON currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
Deere & Company DE presently sports a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, estimates for Deere & Company’s 2023 earnings have increased 8%. The stock has rallied 12.6% in the past six months.
Ingersoll Rand Inc. IR presently carries a Zacks Rank #2 (Buy). IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 3%. The stock has gained 12.8% in the past six months.
AGCO Corporation AGCO presently has a Zacks Rank of 2. AGCO’s earnings surprise in the last four quarters was 13.4%, on average.
In the past 60 days, estimates for AGCO’s 2023 earnings have increased 2.2%. The stock has rallied 19.8% in the past six months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Honeywell International Inc. (HON) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
AGCO Corporation (AGCO) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Honeywell and the Marriott Design Lab will analyze various opportunities to test and deploy personalized guestroom control offerings, building on the Honeywell INNCOM product suite, which includes features like guestroom automation, energy management and operational efficiency offerings. Imagine arriving to your hotel room after a long day of travel and it’s already adjusted to your preferred settings – from temperature, lighting and even the drapes,” said Steve Kenny, vice president and general manager of building management systems, Honeywell Building Technologies. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Click to get this free report Honeywell International Inc. (HON) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. Honeywell and the Marriott Design Lab will analyze various opportunities to test and deploy personalized guestroom control offerings, building on the Honeywell INNCOM product suite, which includes features like guestroom automation, energy management and operational efficiency offerings. Honeywell and Marriott Design Lab will inspect how a guest’s interactions with technology can affect mood and energy and will predict a guest’s desire to offer them a solution that will be dedicated only to them.
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We want travelers to feel like they are not just staying somewhere but have a personalized experience.” Zacks Rank and Stocks to Consider HON currently carries a Zacks Rank #3 (Hold). Click to get this free report Honeywell International Inc. (HON) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. Honeywell and the Marriott Design Lab will analyze various opportunities to test and deploy personalized guestroom control offerings, building on the Honeywell INNCOM product suite, which includes features like guestroom automation, energy management and operational efficiency offerings.
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Honeywell and the Marriott Design Lab will analyze various opportunities to test and deploy personalized guestroom control offerings, building on the Honeywell INNCOM product suite, which includes features like guestroom automation, energy management and operational efficiency offerings. Honeywell and Marriott Design Lab will inspect how a guest’s interactions with technology can affect mood and energy and will predict a guest’s desire to offer them a solution that will be dedicated only to them. Imagine arriving to your hotel room after a long day of travel and it’s already adjusted to your preferred settings – from temperature, lighting and even the drapes,” said Steve Kenny, vice president and general manager of building management systems, Honeywell Building Technologies.
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5066e105-8027-4957-b644-704b2db0fbc9
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720708.0
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2023-03-09 00:00:00 UTC
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2 Stocks to Buy Now After Powell Flips the Narrative... Again
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DE
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https://www.nasdaq.com/articles/2-stocks-to-buy-now-after-powell-flips-the-narrative...-again
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nan
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nan
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After his two-day testimony in front of Congress, Federal Reserve Chair Jerome Powell brought some much need clarity to the markets. Since October, when the market hit extreme lows, the market narrative has slowly shifted to a Fed pivot. This means that market participants believed that the rate hiking cycle was near completion, and by the end of 2023, we would begin to see rate cuts.
But this narrative hinged on lower inflation led by a weakening economy and consumer. While inflation has begun to slow, it is not yet enough, and employment is still as strong as it has been in decades, even with all the tech lay-offs. Because disinflation has been slow to take hold, the Fed is likely going to raise rates more than the market has been expecting.
Thus, the narrative is shifting again, from “Fed Pivot,” to “higher for longer.” The likelihood of a soft-landing for the economy also begins to fade as it is clear the Fed will need to do more to slow consumption and the economy.
Expectations for the next FOMC meeting have seen odds of a 50bps rate hike go from extremely unlikely to highly likely. This comes after Powell stated that he believed it was possible there would be a 50bps hike. Although he did stress “that no decision has been made,” he included that “if the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes.”
Image Source: CME Group
Friday morning the U.S. employment report will come out, and it is absolutely critical to Powell and the Fed’s decision on interest rates. Last month the report showed that the economy added over 500,000 jobs, which blew away expectations of 200,000 new jobs. A strong jobs market would mean strong wage inflation, which is ultimately bad for the economy.
Analysts are expecting 225,000 new jobs to be reported in tomorrow’s data. Whether the report shows hot, cold, or in line results will be a major determinant of policy at the next FOMC meeting.
Stocks
One way to avoid the volatility of changing policy is to focus on stocks with improving earnings expectations, and relative strength.
One stock with promising prospects is Deere and Company DE. Deere is the world’s largest producer of agricultural equipment and manufacturing machinery and was founded in 1837. It operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services.
DE boasts a Zacks Rank #1 (Strong Buy) right now, indicating upward trending earnings revisions. Deere is expecting current quarter sales to grow 23% YoY to $14.8 billion and current quarter earnings to climb 24% to $8.45 per share. Over the last 60 days only a single analyst has revised earnings expectations lower. Across all timeframes earnings have been revised higher by 5-10%.
Image Source: Zacks Investment Research
Furthermore, DE has a compelling technical setup. Over the last two years Deere stock has built out an epic cup and handle pattern. A breakout above 440 can easily send the stock 10% higher. Alternatively, below 400 the setup is invalidated.
Image Source: Zacks Investment Research
Deere stock is trading at a very reasonable valuation as well. At 14x one-year forward earnings the stock is below its 10-year median of 16x, and below the market average.
Image Source: Zacks Investment Research
Another interesting stock is Amphastar Pharmaceuticals AMPH. Amphastar focuses primarily on developing, manufacturing, marketing, and selling generic and proprietary injectable and inhalation products. These include treatments for asthma, deep vein thrombosis, and opioid overdose among others.
If markets were to get dicey again like last year, healthcare stocks can be a defensive way to stay involved. Whether the economy is strong or not, people need healthcare and medicine. Furthermore, as a producer of generic pharmaceuticals, AMPH products are the cheapest options for those who need medicine, making Amphastar the choice when budgets are tight.
AMPH is a Zacks Rank #1 (Strong Buy) stock, indicating a strong upwards earnings revision trend. Analysts are in unanimous agreement in upgrading earnings expectations across timeframes.
Image Source: Zacks Investment Research
At 22x one-year forward earnings, AMPH is trading above its three-year median of 18x. The stock shows strong performance this year, already up 26% YTD.
Image Source: Zacks Investment Research
Conclusion
The future is uncertain in these markets, and one change in phrasing from the Fed can completely flip the script. Remain focused on what Powell says, look for stocks with improving expectations, and always manage your risk.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Although he did stress “that no decision has been made,” he included that “if the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes.” Image Source: CME Group Friday morning the U.S. employment report will come out, and it is absolutely critical to Powell and the Fed’s decision on interest rates. After his two-day testimony in front of Congress, Federal Reserve Chair Jerome Powell brought some much need clarity to the markets.
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Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report To read this article on Zacks.com click here. After his two-day testimony in front of Congress, Federal Reserve Chair Jerome Powell brought some much need clarity to the markets. While inflation has begun to slow, it is not yet enough, and employment is still as strong as it has been in decades, even with all the tech lay-offs.
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Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report To read this article on Zacks.com click here. After his two-day testimony in front of Congress, Federal Reserve Chair Jerome Powell brought some much need clarity to the markets. While inflation has begun to slow, it is not yet enough, and employment is still as strong as it has been in decades, even with all the tech lay-offs.
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After his two-day testimony in front of Congress, Federal Reserve Chair Jerome Powell brought some much need clarity to the markets. While inflation has begun to slow, it is not yet enough, and employment is still as strong as it has been in decades, even with all the tech lay-offs. Thus, the narrative is shifting again, from “Fed Pivot,” to “higher for longer.” The likelihood of a soft-landing for the economy also begins to fade as it is clear the Fed will need to do more to slow consumption and the economy.
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e6d818ef-e7e3-4b4f-8bd0-ede7b011706e
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720709.0
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2023-03-09 00:00:00 UTC
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Here's Why Hold Strategy is Beneficial for IDEX (IEX) Stock
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DE
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https://www.nasdaq.com/articles/heres-why-hold-strategy-is-beneficial-for-idex-iex-stock
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nan
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nan
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IDEX Corporation IEX is gaining from its solid product portfolio, execution abilities and growth investments (including increased exposure in emerging markets, productivity enhancement and digitization) despite supply-chain woes, unfavorable price/cost impacts and higher discretionary expenses.
IDEX expects its Fluid & Metering Technologies segment to benefit from strength in agriculture, water, energy, industrial and Chemical end markets. Solid business in life science, AI, auto, Semicon, pharma and industrial markets will be beneficial for the Health & Science Technologies segment. For the Fire, Safety & Diversified product segment, solid momentum in the fire and rescue, auto and aero end market is expected to aid in the near term.
IDEX has been strengthening and expanding its businesses through asset additions for a while. The acquisition of Muon Group in November 2022, expanded IDEX’s growing platform of precision technology business within the Health & Science Technologies segment. Also, the commercial synergy potential from the combined entities will likely boost offerings for new and existing customers.
The company’s acquisition of KZValve (May 2022) solidified fluid-management solutions in its Banjo Corporation business. The Nexsight, LLC acquisition and its WinCan, Envirosight, MyTana and Pipeline Renewal Technologies businesses (March 2022) drove IEX’s position in the intelligent water technologies market. Also, its purchase of Airtech Group, US Valve Corporation and other entities aided the Health & Science Technology segment. It expects buyout synergies to boost sales 9% for the first quarter and 5% for 2023.
IDEX’s efforts to reward its shareholders through dividend payments and share buybacks are encouraging. The company paid out dividends worth $177.4 million and repurchased shares worth $ $148.1 million in 2022. Its board also announced an 11% hike in its quarterly dividend rate in May 2022.
In light of the above-mentioned positives, we believe, investors should hold on to the IDEX stock for now, as suggested by its current Zacks Rank #3 (Hold). In the past six months, the stock has rallied 5.8%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
Deere & Company DE presently sports a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, Deere & Company’s earnings estimates have increased 8% for fiscal 2023. The stock has rallied 14% in the past six months.
Ingersoll Rand Inc. IR presently carries a Zacks Rank #2 (Buy). IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, Ingersoll Rand’s earnings estimates have increased 3% for 2023. The stock has gained 18.4% in the past six months.
AGCO Corporation AGCO presently has a Zacks Rank of 2. AGCO’s earnings surprise in the last four quarters was 13.4%, on average.
In the past 60 days, AGCO’s earnings estimates have increased 2.2% for 2023. The stock has rallied 23.2% in the past six months.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
AGCO Corporation (AGCO) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
IDEX Corporation (IEX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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IDEX expects its Fluid & Metering Technologies segment to benefit from strength in agriculture, water, energy, industrial and Chemical end markets. Also, its purchase of Airtech Group, US Valve Corporation and other entities aided the Health & Science Technology segment. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked companies from the Industrial Products sector are discussed below:
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In the past 60 days, Deere & Company’s earnings estimates have increased 8% for fiscal 2023. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report IDEX Corporation (IEX) : Free Stock Analysis Report To read this article on Zacks.com click here. IDEX Corporation IEX is gaining from its solid product portfolio, execution abilities and growth investments (including increased exposure in emerging markets, productivity enhancement and digitization) despite supply-chain woes, unfavorable price/cost impacts and higher discretionary expenses.
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In light of the above-mentioned positives, we believe, investors should hold on to the IDEX stock for now, as suggested by its current Zacks Rank #3 (Hold). Image Source: Zacks Investment Research Stocks to Consider Some better-ranked companies from the Industrial Products sector are discussed below: Click to get this free report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report IDEX Corporation (IEX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The acquisition of Muon Group in November 2022, expanded IDEX’s growing platform of precision technology business within the Health & Science Technologies segment. In the past 60 days, Deere & Company’s earnings estimates have increased 8% for fiscal 2023. IDEX Corporation IEX is gaining from its solid product portfolio, execution abilities and growth investments (including increased exposure in emerging markets, productivity enhancement and digitization) despite supply-chain woes, unfavorable price/cost impacts and higher discretionary expenses.
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a5227899-0465-41e2-aa1d-7f7079cde5ed
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720710.0
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2023-03-09 00:00:00 UTC
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ABB Collaborates With DEP to Promote Energy Transformation
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https://www.nasdaq.com/articles/abb-collaborates-with-dep-to-promote-energy-transformation
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ABB Ltd ABB has entered into a strategic partnership with Direct Energy Partners ("DEP") to accelerate energy transformation. DEP is a startup focusing on accelerating the adoption of Direct Current (DC) microgrids.
As part of the partnership, ABB will make a minority investment in DEP through its venture capital unit, ABB Technology Ventures (ATV). Financial details of the investment have been kept under wraps. Since its inception in 2009, ATV has invested around $300 million in startups related to its electrification, robotics, automation and motion portfolio.
The partnership advances ABB’s strategy of expanding its ecosystem of digital energy services for Direct Current applications. Previously, in August 2022, the company unveiled the SACE Infinitus solid-state circuit breaker, a key enabler for direct current power systems.
ABB Ltd Price
ABB Ltd price | ABB Ltd Quote
DEP focuses on local energy generation and distribution with scalable DC microgrids that help to increase customers operational autonomy while simultaneously reducing their overall energy and operating costs. Megawatt-scale and low-voltage DC energy networks will play a vital role in this energy transformation.
Through this partnership with DEP, ABB expects to deliver a digital platform, enabling energy professionals to design and deliver DC microgrids effortlessly.
Zacks Rank & Other Key Picks
ABB currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks within the broader Industrial Products sector are as follows:
Deere & Company DE currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Deere has an estimated earnings growth rate of 30% for the current fiscal year. The stock has gained 13% in the past six months.
Ingersoll Rand IR presently carries a Zacks Rank #2. The company delivered a four-quarter earnings surprise of 8.5%, on average.
Ingersoll Rand has an estimated earnings growth rate of approximately 3% for the current year. The stock has rallied 15.3% in the past six months.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
ABB Ltd (ABB) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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ABB Ltd ABB has entered into a strategic partnership with Direct Energy Partners ("DEP") to accelerate energy transformation. DEP is a startup focusing on accelerating the adoption of Direct Current (DC) microgrids. As part of the partnership, ABB will make a minority investment in DEP through its venture capital unit, ABB Technology Ventures (ATV).
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ABB Ltd ABB has entered into a strategic partnership with Direct Energy Partners ("DEP") to accelerate energy transformation. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report ABB Ltd (ABB) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. DEP is a startup focusing on accelerating the adoption of Direct Current (DC) microgrids.
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ABB Ltd ABB has entered into a strategic partnership with Direct Energy Partners ("DEP") to accelerate energy transformation. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report ABB Ltd (ABB) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. DEP is a startup focusing on accelerating the adoption of Direct Current (DC) microgrids.
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ABB Ltd ABB has entered into a strategic partnership with Direct Energy Partners ("DEP") to accelerate energy transformation. Through this partnership with DEP, ABB expects to deliver a digital platform, enabling energy professionals to design and deliver DC microgrids effortlessly. Deere & Company DE currently sports a Zacks Rank #1 (Strong Buy).
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720711.0
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2023-03-09 00:00:00 UTC
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Johnson Controls (JCI) Increases Quarterly Dividend by 2.9%
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https://www.nasdaq.com/articles/johnson-controls-jci-increases-quarterly-dividend-by-2.9
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In a shareholder-friendly move, Johnson Controls International plc JCI has announced a hike in its dividend payout. JCI raised its quarterly dividend by 2.9% to 36 cents per share (annually: $1.44). The new dividend will be paid out on Apr 14 to shareholders of record as of Mar 20.
The move underscores Johnson Controls’ sound financial health as it utilizes free cash flow to enhance its shareholders’ returns. The company has been paying a consecutive dividend since the year 1887.
The dividend yield, based on the new payout and its Mar 8 closing price of $65.02, is 2.2%%.
Prior to this, Johnson Controls had hiked its dividends by 2.9% to 35 cents per share in March 2022.
Johnson Controls International plc Price
Johnson Controls International plc price | Johnson Controls International plc Quote
Sound Capital-Allocation Strategies
Strong cash flows allow Johnson Controls to effectively deploy capital for making acquisitions, repurchasing shares and paying out dividends. In fiscal 2022 (ended Sep 30, 2022), the company repurchased 21.7 million shares for approximately $1.4 billion.
Also, in the first three months of fiscal 2023 (ended Dec 31, 2022), JCI repurchased and retired $154 million worth of shares. It rewarded its shareholders with $241 million via dividend payments. We believe such disbursements highlight the company’s operational strength and commitment to enhancing shareholders’ wealth.
Zacks Rank and Stocks to Consider
JCI currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
Deere & Company DE presently sports a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, Deere & Company’s earnings estimates have increased 8% for fiscal 2023. The stock has rallied 14% in the past six months.
Ingersoll Rand Inc. IR presently carries a Zacks Rank #2 (Buy). IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, Ingersoll Rand’s earnings estimates have increased 3% for 2023. The stock has gained 18.4% in the past six months.
AGCO Corporation AGCO presently has a Zacks Rank of 2. AGCO’s earnings surprise in the last four quarters was 13.4%, on average.
In the past 60 days, AGCO’s earnings estimates have increased 2.2% for 2023. The stock has rallied 23.2% in the past six months.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Johnson Controls International plc (JCI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
AGCO Corporation (AGCO) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In a shareholder-friendly move, Johnson Controls International plc JCI has announced a hike in its dividend payout. The move underscores Johnson Controls’ sound financial health as it utilizes free cash flow to enhance its shareholders’ returns. JCI raised its quarterly dividend by 2.9% to 36 cents per share (annually: $1.44).
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Johnson Controls International plc Price Johnson Controls International plc price | Johnson Controls International plc Quote Sound Capital-Allocation Strategies Strong cash flows allow Johnson Controls to effectively deploy capital for making acquisitions, repurchasing shares and paying out dividends. Click to get this free report Johnson Controls International plc (JCI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. In a shareholder-friendly move, Johnson Controls International plc JCI has announced a hike in its dividend payout.
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Johnson Controls International plc Price Johnson Controls International plc price | Johnson Controls International plc Quote Sound Capital-Allocation Strategies Strong cash flows allow Johnson Controls to effectively deploy capital for making acquisitions, repurchasing shares and paying out dividends. Zacks Rank and Stocks to Consider JCI currently carries a Zacks Rank #3 (Hold). Click to get this free report Johnson Controls International plc (JCI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The move underscores Johnson Controls’ sound financial health as it utilizes free cash flow to enhance its shareholders’ returns. In the past 60 days, Deere & Company’s earnings estimates have increased 8% for fiscal 2023. In a shareholder-friendly move, Johnson Controls International plc JCI has announced a hike in its dividend payout.
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720712.0
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2023-03-09 00:00:00 UTC
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Mercuria leads funding round for engine tech firm ClearFlame
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By Simon Jessop
LONDON, March 9 (Reuters) - U.S.-based ClearFlame Engine Technologies has raised $30 million in a funding round led by global energy trader Mercuria and with backing from new investors including miner Rio Tinto RIO.L, its chief executive told Reuters.
ClearFlame, whose technology allows diesel engines to run on more climate-friendly fuels, said the Series B round was also backed by WIND Ventures, the venture arm of Chile's COPEC COPEC.SN, and existing investor Breakthrough Energy Ventures.
As the world's biggest automakers race to electrify passenger vehicles, the engines most commonly used by trucking companies, trains, farmers and utilities remain largely powered by diesel, a fossil fuel that also causes heavy air pollution.
To help accelerate the shift to a low-carbon economy, ClearFlame modifies the engine design by switching out 10-15% of the engine parts to allow it to run on a variety of fuels, including ethanol and ammonia.
"Effectively...it's a higher-temperature combustion process It's very easy to integrate into the manufacturing and the maintenance process," which helps keep costs down, said ClearFlame CEO and co-founder BJ Johnson.
The $50,000-$60,000 cost of retrofitting a Class-8 truck, for example, could be recovered in 12-15 months, he said, which would likely prove attractive to the many companies which have pledged to cut fleet emissions.
"Our carbon impact per mile is actually lower than that of driving an electric vehicle; the fuels we use are cleaner than the electrical grid," Johnson said, making the switch more cost-effective.
Diesel accounts for around 26% of carbon emissions from the transport sector, ClearFlame said, and is also responsible for particulates and black soot. A fuel like ethanol can cut emissions by 45-50% and soot by more than 90%, Johnson said.
The company, which already counts U.S. farm equipment maker Deere & Co DE.N as an investor, is working with five of the biggest U.S. truck fleets to pilot the technology, and looking at branching out into the mining, agriculture, and power generation sectors, Johnson said.
Mercuria's Boris Bystrov said in a statement that its investment reflected a belief that ClearFlame's technology can "economically decarbonise the heavy-duty industry".
(Reporting by Simon Jessop; Editing by Kirsten Donovan)
((simon.jessop@thomsonreuters.com; +44 (0) 207 542 5052; Reuters Messaging: Reuters Messaging: simon.jessop.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The company, which already counts U.S. farm equipment maker Deere & Co DE.N as an investor, is working with five of the biggest U.S. truck fleets to pilot the technology, and looking at branching out into the mining, agriculture, and power generation sectors, Johnson said. Mercuria's Boris Bystrov said in a statement that its investment reflected a belief that ClearFlame's technology can "economically decarbonise the heavy-duty industry". By Simon Jessop LONDON, March 9 (Reuters) - U.S.-based ClearFlame Engine Technologies has raised $30 million in a funding round led by global energy trader Mercuria and with backing from new investors including miner Rio Tinto RIO.L, its chief executive told Reuters.
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By Simon Jessop LONDON, March 9 (Reuters) - U.S.-based ClearFlame Engine Technologies has raised $30 million in a funding round led by global energy trader Mercuria and with backing from new investors including miner Rio Tinto RIO.L, its chief executive told Reuters. To help accelerate the shift to a low-carbon economy, ClearFlame modifies the engine design by switching out 10-15% of the engine parts to allow it to run on a variety of fuels, including ethanol and ammonia. "Effectively...it's a higher-temperature combustion process It's very easy to integrate into the manufacturing and the maintenance process," which helps keep costs down, said ClearFlame CEO and co-founder BJ Johnson.
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By Simon Jessop LONDON, March 9 (Reuters) - U.S.-based ClearFlame Engine Technologies has raised $30 million in a funding round led by global energy trader Mercuria and with backing from new investors including miner Rio Tinto RIO.L, its chief executive told Reuters. To help accelerate the shift to a low-carbon economy, ClearFlame modifies the engine design by switching out 10-15% of the engine parts to allow it to run on a variety of fuels, including ethanol and ammonia. "Effectively...it's a higher-temperature combustion process It's very easy to integrate into the manufacturing and the maintenance process," which helps keep costs down, said ClearFlame CEO and co-founder BJ Johnson.
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By Simon Jessop LONDON, March 9 (Reuters) - U.S.-based ClearFlame Engine Technologies has raised $30 million in a funding round led by global energy trader Mercuria and with backing from new investors including miner Rio Tinto RIO.L, its chief executive told Reuters. The company, which already counts U.S. farm equipment maker Deere & Co DE.N as an investor, is working with five of the biggest U.S. truck fleets to pilot the technology, and looking at branching out into the mining, agriculture, and power generation sectors, Johnson said. To help accelerate the shift to a low-carbon economy, ClearFlame modifies the engine design by switching out 10-15% of the engine parts to allow it to run on a variety of fuels, including ethanol and ammonia.
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720713.0
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2023-03-09 00:00:00 UTC
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Is Markel a Buy?
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https://www.nasdaq.com/articles/is-markel-a-buy
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One stock that's made its way on my radar recently is Markel (NYSE: MKL). Last year, Warren Buffett and his team at Berkshire Hathaway bought a lot of stocks. One stock they purchased was specialty insurer Markel, spending about $600 million for more than 467,000 shares.
Markel underwrites insurance policies, but it's so much more than that. It has a vast investment portfolio spread across publicly traded companies and private businesses. Its investing style has earned it the nickname "Baby Berkshire" because its business model mirrors that of Berkshire Hathaway.
Given the similarities, it wasn't surprising to see Berkshire begin building a position in the insurer. Is what's good for Buffett good for your portfolio? Read on and decide for yourself.
Image source: Getty Images.
Markel's insurance niche can be highly profitable
First and foremost, Markel is a specialty insurance company that operates in a niche market called excess and surplus (E&S) insurance. E&S insurance is a small portion of the total property and casualty (P&C) insurance industry, representing just 10% of this market.
E&S, or specialty, insurance differs from standard insurance. Specialty insurance covers hard-to-place risks and follows different rules from standard insurance policies. With traditional insurance, rates and forms are highly regulated. As a result, insurance products are highly uniform, and companies end up competing mostly on price.
Specialty insurers write unique policies that limit their exposure and don't face regulations limiting the premiums they are allowed to charge. As a result, insurer such as Markel compete by writing unique policies on things they have expertise in covering that other insurers won't touch. This specialized market knowledge and fewer regulations can make specialty insurance a highly profitable business when times are good.
Its industry-beating performance
If you want to judge the quality of an insurance company, one great metric to use is the combined ratio. This ratio is foundational for how management evaluates an insurer's underwriting performance.
The ratio takes the sum of losses and expenses divided by premiums earned. A ratio of less than 100% is good, and the lower, the better.
Over the past decade, the P&C industry average combined ratio was 99%. Markel's combined ratio is a solid 95% in comparison. This figure shows Markel is doing an excellent job balancing risks and beating out most competitors.
Why it's earned the nickname "Baby Berkshire"
Markel's investment portfolio, which includes numerous publicly traded companies, sets it apart from other insurers. Last year, Markel had more than $22 billion in investments, spread across fixed-maturity investments such as government bonds, equities, and short-term investments. Nearly 35% of its investments are in stocks, including large investments in Berkshire Hathaway, Deere, Home Depot, Brookfield, and Google parent Alphabet, rounding out the top five.
Data source: Markel regulatory filing. Chart by author.
Markel's investment portfolio is very diversified. It holds investments across 138 stocks, whereas Berkshire Hathaway has investments in 49 stocks. Markel's top 10 holdings make up 39% of its holdings, while Berkshire's top 10 stocks are 89% of its portfolio.
The company's investment performance has been solid, but not spectacular. Markel's equities have returned 13.2% annually over the past decade, while its total portfolio return, which includes bonds, returned 4.8% annually during that period.
Is it a buy?
Markel has been a solid long-term performer. Over the past two decades, the stock has had an annual return of 9.5%, not all that far from Berkshire's 10.6%.
Markel has done a solid job of underwriting insurance policies and investing in stocks and other private businesses, giving it good cash flows. Its comparison to Berkshire is well deserved, although it isn't as aggressively concentrated in a few companies.
MKL Total Return Level. Data source: YCharts
E&S insurance can be a stable source of cash flows, but like many businesses, insurance is cyclical. Insurers have faced pressures on their profitability and rising catastrophe costs in recent years. This has created a favorable underwriting environment where insurers can raise premiums and face less competition. With inflation high and continuing losses from environmental catastrophes, this "hard" insurance environment will likely persist.
Although Markel isn't going to have eye-opening returns, it's a well-run insurance business with a solid investment portfolio that will hold up for the long haul. It's well positioned to take advantage of rising interest rates, and worth considering for a buy the dip on any stock market sell-offs.
10 stocks we like better than Markel
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Markel wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of February 8, 2023
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Courtney Carlsen has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Berkshire Hathaway, Brookfield Corporation, Home Depot, and Markel. The Motley Fool recommends Brookfield and Deere. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Why it's earned the nickname "Baby Berkshire" Markel's investment portfolio, which includes numerous publicly traded companies, sets it apart from other insurers. Markel has done a solid job of underwriting insurance policies and investing in stocks and other private businesses, giving it good cash flows. One stock that's made its way on my radar recently is Markel (NYSE: MKL).
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Why it's earned the nickname "Baby Berkshire" Markel's investment portfolio, which includes numerous publicly traded companies, sets it apart from other insurers. Markel's equities have returned 13.2% annually over the past decade, while its total portfolio return, which includes bonds, returned 4.8% annually during that period. The Motley Fool has positions in and recommends Alphabet, Berkshire Hathaway, Brookfield Corporation, Home Depot, and Markel.
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Why it's earned the nickname "Baby Berkshire" Markel's investment portfolio, which includes numerous publicly traded companies, sets it apart from other insurers. Markel has done a solid job of underwriting insurance policies and investing in stocks and other private businesses, giving it good cash flows. One stock that's made its way on my radar recently is Markel (NYSE: MKL).
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Markel has done a solid job of underwriting insurance policies and investing in stocks and other private businesses, giving it good cash flows. The Motley Fool has positions in and recommends Alphabet, Berkshire Hathaway, Brookfield Corporation, Home Depot, and Markel. One stock that's made its way on my radar recently is Markel (NYSE: MKL).
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2023-03-08 00:00:00 UTC
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7 Stocks That Will Bring Success to the Dividend Investor
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https://www.nasdaq.com/articles/7-stocks-that-will-bring-success-to-the-dividend-investor
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
With the market likely to encounter myriad variables this year, investors should really consider dividend stocks to buy. Fundamentally, companies that provide passive income to their stakeholders tend to weather down cycles better than their growth-centric counterparts. Mainly, this is because dividends come from profits – and profitable enterprises tend to enjoy well-established businesses.
Another factor that will benefit dividend stocks to buy centers on economic realities. Recently, Federal Reserve Chair Jerome Powell testified before Congress, opening the door for more and quicker-paced rate hikes. Naturally, the rise in borrowing costs will impose headwinds on growth enterprises. And while dividend payers will suffer too, they should be able to ride the storm better. Finally, to ramp up the probabilities of success, all of the market ideas below enjoy analyst price targets that imply double-digit gains. Therefore, these dividend stocks to buy play both sides of the profitability aisle.
RBA Ritchie Bros Auctioneers $60.09
DOX Amdocs $91.10
DE Deere $424.29
PSA Public Storage $300.87
CSCO Cisco $49.11
GRMN Garmin $98.13
KELYA Kelly Services $16.98
Dividend Stocks to Buy: Ritchie Bros Auctioneers (RBA)
Source: jittawit21/Shutterstock.com
A global asset management and disposition company, Ritchie Bros Auctioneers (NYSE:RBA) offers customers end-to-end solutions for buying and selling used heavy equipment, trucks, and other assets in numerous industries. On the surface, the troubled global economy might seem to imply a poor performance for RBA. However, the stock gained nearly 7% of equity value in the trailing year.
Interestingly, RBA offers an enticing financial profile. Operationally, its three-year revenue growth rate of 10% and a net margin of 18.17% rank within the top 30% of the underlying sector. Also, the company’s price-earnings-growth (PEG) ratio sits at 0.95 times. In contrast, the industry median pings at 1.56 times. In terms of passive income, Ritchie isn’t the most generous with a forward yield of 1.8%. However, its payout ratio sits at 38.93%, presenting confidence for sustainability.
Finally, Wall Street analysts peg RBA as a consensus moderate buy. Further, their average price target stands at $66.60, implying nearly 11% upside potential. Thus, it’s one of the dividend stocks to buy.
Dividend Stocks to Buy: Amdocs (DOX)
Source: Dmitry Lobanov/Shutterstock.com
A multinational corporation, Amdocs (NASDAQ:DOX) specializes in software and services for communications, media, and financial services providers and digital enterprises. So far this year, DOX encountered some choppy waters, dipping down almost 2%. However, in the past 365 days, DOX returned shareholders nearly 15% of equity value.
As with Ritchie, Amdocs presents some attractive fiscal attributes. Perhaps most notably, DOX enjoys an objectively undervalued profile. Presently, the market prices DOX at a trailing multiple of 20.3. As a discount to earnings, Amdocs ranks better than 61.4% of the competition. In addition, shares trade at a forward multiple of 16. In contrast, the sector median value stands at 24.39. Presently, Amdocs carries a forward yield of 1.93%. Its payout ratio sits below 27%, facilitating confidence regarding yield sustainability.
Turning to Wall Street, analysts peg DOX as a consensus moderate buy. Their average price target pings at $99.75, implying almost 11% upside potential. This too attracts as one of the dividend stocks to buy.
Dividend Stocks to Buy: Deere (DE)
Source: Shutterstock
A manufacturer of agricultural machinery and heavy equipment, Deere (NYSE:DE) represents a critical tangential component of national infrastructure. Further, with greater emphasis on core needs such as farming, DE ranks among the most relevant dividend stocks to buy. It’s also a strong performer in the charts. In the past 365 days, DE returned stakeholders almost 15% of equity value.
Overall, this fairly valued enterprise should appeal both for its burgeoning narrative and its operational dominance. For example, its three-year revenue growth rate stands at 11.7%, outpacing 77.35% of its peers. Also, its book growth rate during the same period pings at 23%, above nearly 90% of the industry.
To be fair, the less-than-appealing side for Deere is its passive income. With a forward yield of 1.2%, it’s not the most generous company. However, its payout ratio is only 15.63%, so it can deliver on this passive income convincingly. But don’t go away yet. Analysts peg DE as a consensus moderate buy. As well, their average price target is $472.33, implying 13% upside potential.
Public Storage (PSA)
Source: Shutterstock
A self-explanatory business, Public Storage (NYSE:PSA) owns self-storage facilities throughout the U.S. The company structures itself as a real estate investment trust (REIT). Fundamentally, Public Storage addresses the needs of baby boomers looking to downsize but keep certain items. As well, it offers solutions for millennials also looking to downsize to save on escalated residential rents.
To be sure, PSA rates as a more volatile investment among dividend stocks to buy, shedding nearly 18% of value in the trailing year. However, it also might make for an undervalued opportunity. According to Gurufocus.com’s discounted cash flow (DCF) analysis, PSA’s fair value comes out to $488.50. However, the stock’s time-of-writing price sits at $302.35. At the moment, Public Storage carries a forward yield of 3.97%. While more generous than many other companies, its payout ratio is 96.4%. Therefore, caution is warranted. Still, covering analysts peg PSA as a consensus moderate buy. Moreover, their average price target stands at $348, implying 15% upside potential.
Cisco (CSCO)
Source: Shutterstock
A multinational digital communications technology firm, Cisco (NASDAQ:CSCO) develops, manufactures, and sells networking hardware, software, telecommunications equipment, and other high-technology services and products. It’s a powerhouse in specialized tech markets such as the Internet of Things. However, it does rank as one of the higher-risk, higher-reward dividend stocks to buy.
In the trailing year, CSCO dropped 10% in equity value. Still, this underperformance probably represents a buy-the-dip opportunity. In the trailing five years, shares gained nearly 8%. Looking at the financials, Cisco benefits from outstanding profit margins. As well, CSCO trades at a forward multiple of 13. As a discount to earnings, Cisco ranks better than 61.63% of the competition. In terms of passive income, Cisco offers a forward yield of 3.19%. Further, its payout ratio is only 38.69%, affording credibility and confidence. Looking to Wall Street, covering analysts peg CSCO as a consensus moderate buy. Moreover, their average price target stands at $56.88, implying over 16% upside potential.
Garmin (GRMN)
Source: Shutterstock
A multinational tech firm, Garmin (NYSE:GRMN) specializes in GPS technology for automotive, aviation, marine, outdoor, and sports activities. Furthermore, the company invested heavily in wearable technologies such as activity trackers and smartwatches. Since the Jan. opener, GRMN posted a decent performance, gaining 5% of equity value. However, in the past 365 days, it’s down almost 11%.
According to Gurufocus.com’s proprietary calculations for fair market value (FMV), Garmin represents a modestly undervalued investment. For me, the operational strengths distinguish themselves. As an example, its three-year book growth rate stands at 8.8%, outpacing 63.45% of the field. Also, the company’s net margin is 20%, above 92.38% of sector peers.
Right now, the company carries a forward yield of 2.97%. Its payout ratio of 51.48% is a bit elevated but still a decent sustainable figure. Lastly, covering analysts peg GRMN as a consensus moderate buy. As well, their average price target stands at $119, implying 21% upside potential. Therefore, it’s an enticing candidate for dividend stocks to buy.
Kelly Services (KELYA)
Source: Shutterstock
An American office staffing company, Kelly Services (NASDAQ:KELYA) also operates globally. Fundamentally, with mass layoffs accelerating, Kelly Services offers natural relevancies. As well, the company doesn’t just focus on white-collar work but also warehouse opportunities. You never know – office worker bees might get tired of sitting in front of a computer all day.
To be fair, though, prospective investors will need patience with KELYA. In the past 365 days, shares dropped over 12% in equity value. However, it’s also objectively undervalued. Presently, KELYA trades at a forward multiple of 10.93. As a discount to earnings, Kelly Services ranks better than 70.19% of its rivals. Also, the market prices KELYA at 0.13 times trailing sales. In contrast, the sector median value is 1.18 times. Currently, Kelly carries a forward yield of 1.78%. Though a bit low, its payout ratio sits at 16.85%, giving stakeholders plenty of confidence.
Finally, the big reason to consider KELYA as one of the dividend stocks to buy. Analysts anticipate shares hitting $24, implying upside potential of over 42%.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
The post 7 Stocks That Will Bring Success to the Dividend Investor appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Finally, to ramp up the probabilities of success, all of the market ideas below enjoy analyst price targets that imply double-digit gains. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. InvestorPlace - Stock Market News, Stock Advice & Trading Tips With the market likely to encounter myriad variables this year, investors should really consider dividend stocks to buy.
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RBA Ritchie Bros Auctioneers $60.09 DOX Amdocs $91.10 DE Deere $424.29 PSA Public Storage $300.87 CSCO Cisco $49.11 GRMN Garmin $98.13 KELYA Kelly Services $16.98 Dividend Stocks to Buy: Ritchie Bros Auctioneers (RBA) Source: jittawit21/Shutterstock.com A global asset management and disposition company, Ritchie Bros Auctioneers (NYSE:RBA) offers customers end-to-end solutions for buying and selling used heavy equipment, trucks, and other assets in numerous industries. Dividend Stocks to Buy: Amdocs (DOX) Source: Dmitry Lobanov/Shutterstock.com A multinational corporation, Amdocs (NASDAQ:DOX) specializes in software and services for communications, media, and financial services providers and digital enterprises. Cisco (CSCO) Source: Shutterstock A multinational digital communications technology firm, Cisco (NASDAQ:CSCO) develops, manufactures, and sells networking hardware, software, telecommunications equipment, and other high-technology services and products.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips With the market likely to encounter myriad variables this year, investors should really consider dividend stocks to buy. RBA Ritchie Bros Auctioneers $60.09 DOX Amdocs $91.10 DE Deere $424.29 PSA Public Storage $300.87 CSCO Cisco $49.11 GRMN Garmin $98.13 KELYA Kelly Services $16.98 Dividend Stocks to Buy: Ritchie Bros Auctioneers (RBA) Source: jittawit21/Shutterstock.com A global asset management and disposition company, Ritchie Bros Auctioneers (NYSE:RBA) offers customers end-to-end solutions for buying and selling used heavy equipment, trucks, and other assets in numerous industries. Dividend Stocks to Buy: Amdocs (DOX) Source: Dmitry Lobanov/Shutterstock.com A multinational corporation, Amdocs (NASDAQ:DOX) specializes in software and services for communications, media, and financial services providers and digital enterprises.
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Thus, it’s one of the dividend stocks to buy. Since the Jan. opener, GRMN posted a decent performance, gaining 5% of equity value. InvestorPlace - Stock Market News, Stock Advice & Trading Tips With the market likely to encounter myriad variables this year, investors should really consider dividend stocks to buy.
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4b5bff77-73e7-4101-afb2-ab61054b19cb
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720715.0
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2023-03-08 00:00:00 UTC
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Does Honeywell Stock Have Any Room For Growth?
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DE
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https://www.nasdaq.com/articles/does-honeywell-stock-have-any-room-for-growth
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nan
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nan
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Honeywell stock (NYSE: HON) has seen a fall of 4% in a month, compared with -3% returns for the broader S&P500 index. The company reported upbeat Q4 results last month, with revenue falling in line but earnings coming in above our estimates. Still, HON stock trended lower due to lower-than-expected guidance for Q1 2023 and the overall weakness in the broader market. Despite its recent fall, we believe HON stock has little room for growth.
Honeywell’s revenue of $9.2 billion in Q4 2022 reflected a 6% y-o-y rise, led by an 11% rise in Aerospace, an 8% rise in Building Technologies, and a 10% rise in Performance Materials, while Safety & Productivity segment sales fell 8%. Continued growth in commercial air travel will aid Honeywell’s aftermarket sales in the near term. The company expects its aerospace sales to rise in low double-digits in 2023. Performance Materials and Building Technologies segments have benefited from pricing actions, a trend expected to continue in the near term.
The company has guided its overall top line to fall between $36 and $37 billion and its adjusted EPS to be between $8.80 and $9.20 in 2023. It expects a 50 to 90 basis points improvement in segment margin in 2023. Our model considers the company’s mid-single-digit top and bottom-line growth guidance, partly driven by slight operating margin expansion.
But, looking at valuation, at its current level of $197, HON stock is already trading at 22x its forward expected earnings of $9.00 (which is at the mid-point of the guided range), compared to its last five-year average of 23x, implying that HON stock has only a little room for growth. We estimate Honeywell’s Valuation to be around $209 per share, 6% above the current market price. This represents a 23x forward P/E multiple, aligning with its historical average mentioned above.
may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. For example, you'll be surprised how counter-intuitive the stock valuation is for Pfizer vs Merck. \n\nBased on article theme, variations to \"While may have moved\" can be (a) While may be overvalued (or undervalued) (b) While can move (c) Although may not be attractive (d) While is worth considering"}" data-sheets-userformat="{"2":1049345,"3":{"1":0},"11":4,"12":0,"23":1}" data-sheets-textstyleruns="{"1":0}{"1":210,"2":{"2":{"1":2,"2":1136076},"5":1,"9":1}}{"1":225}{"1":229,"2":{"4":8}}{"1":267,"2":{"4":8,"6":1}}{"1":299,"2":{"4":8}}" data-sheets-hyperlinkruns="{"1":210,"2":"https://dashboards.trefis.com/data/companies/PFE/no-login-required/HMIwIvym/Pfizer-vs-Merck-PFE-stock-s-similar-valuation-vs-MRK-stock-is-counter-intuitive"}{"1":225}">While HON stock may have little room for growth, the Covid-19 crisis has created many pricing discontinuities, which can offer attractive trading opportunities. For example, you’ll be surprised at how counter-intuitive the stock valuation is for Carrier Global vs. Tempur Sealy.
Despite higher inflation and rising interest rates, HON stock has risen 8% in the last twelve months. But can it drop from here? See how low Honeywell stock can go by comparing its decline in previous market crashes. Here is a performance summary of all stocks in previous market crashes.
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
Returns Mar 2023
MTD [1] 2023
YTD [1] 2017-23
Total [2]
HON Return 3% -8% 78%
S&P 500 Return 2% 5% 81%
Trefis Multi-Strategy Portfolio 2% 10% 245%
[1] Month-to-date and year-to-date as of 3/7/2023
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Our model considers the company’s mid-single-digit top and bottom-line growth guidance, partly driven by slight operating margin expansion. Honeywell stock (NYSE: HON) has seen a fall of 4% in a month, compared with -3% returns for the broader S&P500 index. Still, HON stock trended lower due to lower-than-expected guidance for Q1 2023 and the overall weakness in the broader market.
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\n\nBased on article theme, variations to \"While may have moved\" can be (a) While may be overvalued (or undervalued) (b) While can move (c) Although may not be attractive (d) While is worth considering"}" data-sheets-userformat="{"2":1049345,"3":{"1":0},"11":4,"12":0,"23":1}" data-sheets-textstyleruns="{"1":0}{"1":210,"2":{"2":{"1":2,"2":1136076},"5":1,"9":1}}{"1":225}{"1":229,"2":{"4":8}}{"1":267,"2":{"4":8,"6":1}}{"1":299,"2":{"4":8}}" data-sheets-hyperlinkruns="{"1":210,"2":"https://dashboards.trefis.com/data/companies/PFE/no-login-required/HMIwIvym/Pfizer-vs-Merck-PFE-stock-s-similar-valuation-vs-MRK-stock-is-counter-intuitive"}{"1":225}">While HON stock may have little room for growth, the Covid-19 crisis has created many pricing discontinuities, which can offer attractive trading opportunities. Honeywell stock (NYSE: HON) has seen a fall of 4% in a month, compared with -3% returns for the broader S&P500 index. Still, HON stock trended lower due to lower-than-expected guidance for Q1 2023 and the overall weakness in the broader market.
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But, looking at valuation, at its current level of $197, HON stock is already trading at 22x its forward expected earnings of $9.00 (which is at the mid-point of the guided range), compared to its last five-year average of 23x, implying that HON stock has only a little room for growth. \n\nBased on article theme, variations to \"While may have moved\" can be (a) While may be overvalued (or undervalued) (b) While can move (c) Although may not be attractive (d) While is worth considering"}" data-sheets-userformat="{"2":1049345,"3":{"1":0},"11":4,"12":0,"23":1}" data-sheets-textstyleruns="{"1":0}{"1":210,"2":{"2":{"1":2,"2":1136076},"5":1,"9":1}}{"1":225}{"1":229,"2":{"4":8}}{"1":267,"2":{"4":8,"6":1}}{"1":299,"2":{"4":8}}" data-sheets-hyperlinkruns="{"1":210,"2":"https://dashboards.trefis.com/data/companies/PFE/no-login-required/HMIwIvym/Pfizer-vs-Merck-PFE-stock-s-similar-valuation-vs-MRK-stock-is-counter-intuitive"}{"1":225}">While HON stock may have little room for growth, the Covid-19 crisis has created many pricing discontinuities, which can offer attractive trading opportunities. Honeywell stock (NYSE: HON) has seen a fall of 4% in a month, compared with -3% returns for the broader S&P500 index.
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Honeywell stock (NYSE: HON) has seen a fall of 4% in a month, compared with -3% returns for the broader S&P500 index. But, looking at valuation, at its current level of $197, HON stock is already trading at 22x its forward expected earnings of $9.00 (which is at the mid-point of the guided range), compared to its last five-year average of 23x, implying that HON stock has only a little room for growth. Still, HON stock trended lower due to lower-than-expected guidance for Q1 2023 and the overall weakness in the broader market.
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c80c1160-1bff-4738-b2d9-e0556bf1d2ca
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720716.0
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2023-03-08 00:00:00 UTC
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Honeywell (HON) Launches Fire System With Self-Test Detectors
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DE
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https://www.nasdaq.com/articles/honeywell-hon-launches-fire-system-with-self-test-detectors
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nan
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nan
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Honeywell International HON has launched a first-of-its-kind fire alarm system with UL-approved self-testing smoke detectors aimed at creating a safer building environment for people.
The NOTIFIER INSPIRE fire alarm system with self-test detectors equips service providers with digital self-testing tools that streamline maintenance and support regulatory compliance and system uptime.
NOTIFIER INSPIRE with self-test detectors can be tested automatically and offer reliable protection, scalability, efficient monitoring, as well as flexible and timely reporting. Designed per the buildings' needs, it minimizes the need for equipment changes and provides secure connectivity, thus enhancing fire technician efficiency.
Honeywell International Inc. Price
Honeywell International Inc. price | Honeywell International Inc. Quote
Honeywell’s latest fire alarm system is integrated with its Connected Life Safety Services cloud-based platform, which provides real-time visibility into the fire system to installers, service technicians and facility managers. This helps technicians identify and troubleshoot problems ahead of time, improving first-time fix rates and reducing time spent on-site.
The NOTIFIER Self-Test is designed in a way that it can even test hard-to-access areas, such as, locked rooms, high ceilings and the like, by introducing small amounts of heat and smoke into their detection chambers. This would test both photo and thermal sensors as well as verify that smoke entry points are free of obstruction.
Currently available only in the United States, the NOTIFIER INSPIRE series, with the self-test detector, will be introduced to other places in the near future.
Zacks Rank & Key Picks
Honeywell currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks worth considering are as follows:
Deere & Company DE currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Deere has an estimated earnings growth rate of 30% for the current fiscal year. The stock has gained 13.5% in the past six months.
Ingersoll Rand IR presently carries a Zacks Rank #2 (Buy). The company delivered a four-quarter earnings surprise of 8.5%, on average.
Ingersoll Rand has an estimated earnings growth rate of approximately 3% for the current year. The stock has rallied 20.4% in the past six months.
Parker-Hannifin Corporation PH presently carries a Zacks Rank #2. The company delivered a trailing four-quarter earnings surprise of 9.1%, on average.
Parker-Hannifin has an estimated earnings growth rate of 4.7% for the current fiscal year. The stock has gained 30.9% in the past six months.
This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation
Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.
>>Yes, I Want to Help Protect My Portfolio During the Recession
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Honeywell International Inc. (HON) : Free Stock Analysis Report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Honeywell International HON has launched a first-of-its-kind fire alarm system with UL-approved self-testing smoke detectors aimed at creating a safer building environment for people. NOTIFIER INSPIRE with self-test detectors can be tested automatically and offer reliable protection, scalability, efficient monitoring, as well as flexible and timely reporting. The NOTIFIER Self-Test is designed in a way that it can even test hard-to-access areas, such as, locked rooms, high ceilings and the like, by introducing small amounts of heat and smoke into their detection chambers.
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The NOTIFIER INSPIRE fire alarm system with self-test detectors equips service providers with digital self-testing tools that streamline maintenance and support regulatory compliance and system uptime. Click to get this free report Honeywell International Inc. (HON) : Free Stock Analysis Report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. Honeywell International HON has launched a first-of-its-kind fire alarm system with UL-approved self-testing smoke detectors aimed at creating a safer building environment for people.
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The NOTIFIER INSPIRE fire alarm system with self-test detectors equips service providers with digital self-testing tools that streamline maintenance and support regulatory compliance and system uptime. Click to get this free report Honeywell International Inc. (HON) : Free Stock Analysis Report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. Honeywell International HON has launched a first-of-its-kind fire alarm system with UL-approved self-testing smoke detectors aimed at creating a safer building environment for people.
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Honeywell International HON has launched a first-of-its-kind fire alarm system with UL-approved self-testing smoke detectors aimed at creating a safer building environment for people. NOTIFIER INSPIRE with self-test detectors can be tested automatically and offer reliable protection, scalability, efficient monitoring, as well as flexible and timely reporting. The NOTIFIER INSPIRE fire alarm system with self-test detectors equips service providers with digital self-testing tools that streamline maintenance and support regulatory compliance and system uptime.
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389119fb-f0aa-4d53-bd82-5a7915ec6225
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720717.0
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2023-03-08 00:00:00 UTC
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Why Wall Street Is Still So Constructive on Aecom Stock
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DE
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https://www.nasdaq.com/articles/why-wall-street-is-still-so-constructive-on-aecom-stock
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nan
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nan
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During the pandemic crash of March 2020, AECOM (NYSE: ACM) stock returned to its IPO level of 13 years prior. It’s been all uphill since.
Shares of the Los Angeles-based infrastructure services provider rebounded for a 15% gain in 2021, surged 55% in 2021 and rose 10% last year in a down market. Up another 6% year-to-date, the rally may be far from over.
Despite the stock has quadrupled in three years, Wall Street is unanimously bullish on AECOM. Since Credit Suisse upgraded the company to Outperform in January 2023, a half-dozen other firms have agreed. A strong fourth quarter in which revenue and profits topped Street expectations is only the tip of the iceberg.
AECOM is shifting to a new business model focused on professional services. These include planning, consulting, design and construction management for airport, bridge, building, highway and mass transit projects.
Given the U.S. government’s planned $1 trillion infrastructure spending spree, the move positions AECOM for multi-year growth. Increasing demand for engineering and architectural services stands to create a sustained uptrend in revenue. It is these growth drivers along with a reasonable valuation, that have analysts expecting a smooth road ahead.
How Did AECOM Perform in Fiscal 2023 Q1?
AECOM grew total revenue by 3.5% in its first fiscal quarter of 2023, but it is the figures related to the net services model that the Street views more closely. Net service revenue, or NSR, increased 8% year-over-year to approximately $1.6 billion. The growth marked an acceleration from the previous quarter, and the amount was the highest in more than a decade. Adjusted earnings per share (EPS) was down 3% but ahead of consensus.
Many investors found the performance to be disappointing — understandable after AECOM posted 20% adjusted EPS growth in fiscal 2022. The stock slipped in heavy volume on the day of the report, extending the pre-release slide to nine days. It has since bounced off support at the 50-day moving average, with the market rediscovering its longer-term potential.
What Is AECOM’s Outlook for 2023?
Management is anticipating EPS of $3.55 to $3.75 in the current fiscal year, representing 5% growth. Growth is expected to be skewed to the back half of the year when AECOM’s seasonally stronger periods kick in. This is important for investors to remember as financial results and stock momentum tends to build alongside a ramp in summer road and waterway projects.
While much of the recent interest in AECOM is tied to the domestic infrastructure plans, nearly one-fourth of revenue comes from international markets. With aging infrastructure a common issue worldwide, projects in Canada, Europe and Asia also account for much of its $39 billion order backlog. Urbanization trends in developing countries should serve as an especially powerful tailwind for overseas expansion and complement the U.S. growth story.
Last month, AECOM was awarded a contract from the U.S. Navy to provide critical environmental services along the Pacific coast as part of its CLEAN program. The contract is worth as much as $239 million, 15% of AECOM’s revenue last quarter.
2023’s second major new business win came from Dallas's 277-acre Fair Park entertainment complex. Although a contract amount wasn’t disclosed, it will be substantial given the scope of the program management services AECOM will provide to upgrade the park’s facilities and infrastructure.
Does AECOM Stock Pay a Dividend?
Last week, AECOM’s board declared a $0.18 per share quarterly dividend that goes ex-dividend on April 5th. This equates to a 0.8% forward yield that, while modest, has ample room for growth. Less than 20% of AECOM’s profits are returned to shareholders as cash dividends.
AECOM’s mix of price and income growth potential makes it one of the Street’s favorite large-cap industrial plays. A P/E ratio of 24x this year’s earnings estimate is also a positive because it represents a discount to the sector average.
Revised analyst price targets since AECOM’s last report sit in a relatively tight range of $94 to $105. This suggests good visibility into earnings and the services transition. With much attention on earth moving equipment companies like Caterpillar and Deere, AECOM remains under-the-radar infrastructure services play.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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AECOM grew total revenue by 3.5% in its first fiscal quarter of 2023, but it is the figures related to the net services model that the Street views more closely. This is important for investors to remember as financial results and stock momentum tends to build alongside a ramp in summer road and waterway projects. Although a contract amount wasn’t disclosed, it will be substantial given the scope of the program management services AECOM will provide to upgrade the park’s facilities and infrastructure.
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AECOM grew total revenue by 3.5% in its first fiscal quarter of 2023, but it is the figures related to the net services model that the Street views more closely. Although a contract amount wasn’t disclosed, it will be substantial given the scope of the program management services AECOM will provide to upgrade the park’s facilities and infrastructure. During the pandemic crash of March 2020, AECOM (NYSE: ACM) stock returned to its IPO level of 13 years prior.
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AECOM grew total revenue by 3.5% in its first fiscal quarter of 2023, but it is the figures related to the net services model that the Street views more closely. Although a contract amount wasn’t disclosed, it will be substantial given the scope of the program management services AECOM will provide to upgrade the park’s facilities and infrastructure. During the pandemic crash of March 2020, AECOM (NYSE: ACM) stock returned to its IPO level of 13 years prior.
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AECOM grew total revenue by 3.5% in its first fiscal quarter of 2023, but it is the figures related to the net services model that the Street views more closely. During the pandemic crash of March 2020, AECOM (NYSE: ACM) stock returned to its IPO level of 13 years prior. Shares of the Los Angeles-based infrastructure services provider rebounded for a 15% gain in 2021, surged 55% in 2021 and rose 10% last year in a down market.
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d9cbbc81-681c-4950-bae3-3b3b85a9ce91
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720718.0
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2023-03-08 00:00:00 UTC
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Guru Fundamental Report for DEERE COMPANY - Partha Mohanram
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DE
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https://www.nasdaq.com/articles/guru-fundamental-report-for-deere-company-partha-mohanram
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nan
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nan
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Below is Validea's guru fundamental report for DEERE & COMPANY (DE). Of the 22 guru strategies we follow, DE rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
DEERE & COMPANY (DE) is a large-cap growth stock in the Constr. & Agric. Machinery industry. The rating using this strategy is 88% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: FAIL
CAPITAL EXPENDITURES TO ASSETS: PASS
RESEARCH AND DEVELOPMENT TO ASSETS: PASS
Detailed Analysis of DEERE & COMPANY
DE Guru Analysis
DE Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Factor-Based Stock Portfolios
Factor-Based ETF Portfolios
Harry Browne Permanent Portfolio
Ray Dalio All Weather Portfolio
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. Below is Validea's guru fundamental report for DEERE & COMPANY (DE).
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Below is Validea's guru fundamental report for DEERE & COMPANY (DE). Of the 22 guru strategies we follow, DE rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing.
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Of the 22 guru strategies we follow, DE rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Additional Research Links Factor-Based Stock Portfolios Factor-Based ETF Portfolios Harry Browne Permanent Portfolio Ray Dalio All Weather Portfolio About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends.
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Of the 22 guru strategies we follow, DE rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing.
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a9cdd80f-6ac2-4bd4-809b-e61acf3a8d99
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720719.0
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2023-03-08 00:00:00 UTC
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Tetra Tech (TTEK) Wins $105M Watershed Assessment Contract
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DE
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https://www.nasdaq.com/articles/tetra-tech-ttek-wins-%24105m-watershed-assessment-contract
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Tetra Tech TTEK has secured a five-year, $105 million Blanket Purchase Agreement (BPA) from the U.S. Environmental Protection Agency ("EPA") Office of Water to restore and protect watersheds and water bodies across the United States.
As part of the agreement, Tetra Tech will identify, analyze and evaluate surface water and coastal ecosystems to safeguard human health and aquatic environments from the effects of pollution and climate change, including ocean acidification.
TTEK’s scientists will design monitoring programs, develop predictive models, and prepare technical guidance documents to ascertain the chemical, physical, and biological integrity of water bodies. The company’s technical specialists will analyze the model results and manage spatial datasets to develop effective management strategies for inland and coastal regions, which are impacted by land-use-related activities, stormwater and runoff, habitat loss and invasive species.
Tetra Tech, Inc. Price
Tetra Tech, Inc. price | Tetra Tech, Inc. Quote
In February, Tetra Tech secured a five-year, multiple-award, $200 million contract from the U.S. Army Corps of Engineers, Far East District, to offer architect-engineer services throughout the Republic of Korea.
Previously, in January, TTEK secured a ceiling increase of $42 million to the $17 million, single-award four-year contract from the U.S. Agency for International Development to boost energy security in the Republic of Moldova. The initial $17 million contract was awarded in March 2022.
Zacks Rank & Other Key Picks
Tetra Tech presently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks within the broader Industrial Products sector are as follows:
Deere & Company DE currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Deere has an estimated earnings growth rate of 30% for the current fiscal year. The stock has gained 13.5% in the past six months.
Ingersoll Rand IR presently carries a Zacks Rank #2. The company delivered a four-quarter earnings surprise of 8.5%, on average.
Ingersoll Rand has an estimated earnings growth rate of approximately 3% for the current year. The stock has rallied 20.4% in the past six months.
Parker-Hannifin Corporation PH presently carries a Zacks Rank #2. The company delivered a trailing four-quarter earnings surprise of 9.1%, on average.
Parker-Hannifin has an estimated earnings growth rate of 4.7% for the current fiscal year. The stock has gained 30.9% in the past six months.
This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation
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>>Yes, I Want to Help Protect My Portfolio During the Recession
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Tetra Tech, Inc. (TTEK) : Free Stock Analysis Report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As part of the agreement, Tetra Tech will identify, analyze and evaluate surface water and coastal ecosystems to safeguard human health and aquatic environments from the effects of pollution and climate change, including ocean acidification. TTEK’s scientists will design monitoring programs, develop predictive models, and prepare technical guidance documents to ascertain the chemical, physical, and biological integrity of water bodies. The company’s technical specialists will analyze the model results and manage spatial datasets to develop effective management strategies for inland and coastal regions, which are impacted by land-use-related activities, stormwater and runoff, habitat loss and invasive species.
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Click to get this free report Tetra Tech, Inc. (TTEK) : Free Stock Analysis Report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. As part of the agreement, Tetra Tech will identify, analyze and evaluate surface water and coastal ecosystems to safeguard human health and aquatic environments from the effects of pollution and climate change, including ocean acidification. TTEK’s scientists will design monitoring programs, develop predictive models, and prepare technical guidance documents to ascertain the chemical, physical, and biological integrity of water bodies.
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Click to get this free report Tetra Tech, Inc. (TTEK) : Free Stock Analysis Report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. As part of the agreement, Tetra Tech will identify, analyze and evaluate surface water and coastal ecosystems to safeguard human health and aquatic environments from the effects of pollution and climate change, including ocean acidification. TTEK’s scientists will design monitoring programs, develop predictive models, and prepare technical guidance documents to ascertain the chemical, physical, and biological integrity of water bodies.
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As part of the agreement, Tetra Tech will identify, analyze and evaluate surface water and coastal ecosystems to safeguard human health and aquatic environments from the effects of pollution and climate change, including ocean acidification. TTEK’s scientists will design monitoring programs, develop predictive models, and prepare technical guidance documents to ascertain the chemical, physical, and biological integrity of water bodies. The company’s technical specialists will analyze the model results and manage spatial datasets to develop effective management strategies for inland and coastal regions, which are impacted by land-use-related activities, stormwater and runoff, habitat loss and invasive species.
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70696014-6a4f-4322-9ac9-ec2bbf1398f7
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720720.0
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2023-03-07 00:00:00 UTC
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DE June 2024 Options Begin Trading
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DE
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https://www.nasdaq.com/articles/de-june-2024-options-begin-trading
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nan
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nan
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Investors in Deere & Co. (Symbol: DE) saw new options begin trading today, for the June 2024 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 472 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the DE options chain for the new June 2024 contracts and identified one put and one call contract of particular interest.
The put contract at the $420.00 strike price has a current bid of $41.45. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $420.00, but will also collect the premium, putting the cost basis of the shares at $378.55 (before broker commissions). To an investor already interested in purchasing shares of DE, that could represent an attractive alternative to paying $423.03/share today.
Because the $420.00 strike represents an approximate 1% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 9.87% return on the cash commitment, or 7.63% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Deere & Co., and highlighting in green where the $420.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $440.00 strike price has a current bid of $55.95. If an investor was to purchase shares of DE stock at the current price level of $423.03/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $440.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 17.24% if the stock gets called away at the June 2024 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if DE shares really soar, which is why looking at the trailing twelve month trading history for Deere & Co., as well as studying the business fundamentals becomes important. Below is a chart showing DE's trailing twelve month trading history, with the $440.00 strike highlighted in red:
Considering the fact that the $440.00 strike represents an approximate 4% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 13.23% boost of extra return to the investor, or 10.23% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $423.03) to be 35%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
Also see:
TNET YTD Return
Funds Holding CQB
ISTR shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if DE shares really soar, which is why looking at the trailing twelve month trading history for Deere & Co., as well as studying the business fundamentals becomes important. Below is a chart showing DE's trailing twelve month trading history, with the $440.00 strike highlighted in red: Considering the fact that the $440.00 strike represents an approximate 4% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Deere & Co. (Symbol: DE) saw new options begin trading today, for the June 2024 expiration.
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Below is a chart showing DE's trailing twelve month trading history, with the $440.00 strike highlighted in red: Considering the fact that the $440.00 strike represents an approximate 4% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Deere & Co. (Symbol: DE) saw new options begin trading today, for the June 2024 expiration.
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Below is a chart showing the trailing twelve month trading history for Deere & Co., and highlighting in green where the $420.00 strike is located relative to that history: Turning to the calls side of the option chain, the call contract at the $440.00 strike price has a current bid of $55.95. Below is a chart showing DE's trailing twelve month trading history, with the $440.00 strike highlighted in red: Considering the fact that the $440.00 strike represents an approximate 4% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted).
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At Stock Options Channel, our YieldBoost formula has looked up and down the DE options chain for the new June 2024 contracts and identified one put and one call contract of particular interest. Below is a chart showing DE's trailing twelve month trading history, with the $440.00 strike highlighted in red: Considering the fact that the $440.00 strike represents an approximate 4% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Deere & Co. (Symbol: DE) saw new options begin trading today, for the June 2024 expiration.
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9e12da32-f9e1-46da-941d-d2071d727d71
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720721.0
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2023-03-06 00:00:00 UTC
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Here's Why You Should Hold on to Honeywell (HON) for Now
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DE
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https://www.nasdaq.com/articles/heres-why-you-should-hold-on-to-honeywell-hon-for-now
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nan
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nan
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Honeywell International HON is backed by multiple tailwinds despite some volume softness due to supply-chain disruptions. While raw material cost inflation poses a threat to the bottom line, pricing actions augur well for the company’s top-line growth.
Strength in long-cycle businesses is driving growth in Honeywell’s commercial aviation, building products, advanced materials and UOP businesses. Despite cost inflation, pricing actions and cost-control measures are driving the company’s margin performance. For 2022, operating margin expanded 10 basis points (bps) year over year while the segment margin expanded 70 bps. For 2023, the company expects a segment margin of 22.2-22.6%, indicating a year-over-year rise of 50-90 bps.
This Zacks Rank #3 (Hold) company’s bullish 2023 guidance holds promise. For 2023, the company expects sales of $36-$37 billion, which reflects an organic sales growth of 2-5%. The company anticipates adjusted earnings of $9.35-$9.75 per share, indicating a year-over-year increase of 7-11%. The company expects moderation in raw material inflation (thanks to deceleration in inflation) and improved supply chains to drive top-line growth in 2023.
While Honeywell’s Safety and Productivity Solutions segment is experiencing weakness due to lower personal protective equipment and warehouse automation volume, its Aerospace segment is witnessing robust growth on the back of strong commercial aftermarket demand. Continued improvement in flight hours, especially in wide body, should continue to drive the segment’s performance. For 2023, the company expects segmental organic growth to be in the high single-digit to the low double-digit range.
Strength in advanced materials business and UOP operations is fueling growth of HON’s Performance Materials and Technologies (PMT) segment. An improvement in the process technologies business, which returned to growth in the fourth quarter, robust catalyst shipments and demand for energy capacity should drive the PMT segment’s growth in 2023. Within PMT, growth in the advanced materials business is expected to continue owing to strong demand for solstice products. For 2023, the company expects sales to improve in the mid-single digits for PMT.
Honeywell has been committed to handsomely rewarding its shareholders through dividends and share buybacks. In 2022, HON rewarded shareholders with $2.7 billion in dividends and $4.2 billion in share buybacks. The quarterly dividend rate was hiked by 5.1% in September 2022. Strong free cash flow generation supports the company’s shareholder-friendly activities. The company expects an operating cash flow of $4.9-$5.3 billion for 2023, while the free cash flow is anticipated to be $3.9-$4.3 billion.
Backed by these tailwinds, shares of Honeywell have gained 8.1% in a year, outperforming the industry’s 4.2% decline.
Image Source: Zacks Investment Research
Key Picks
Some better-ranked stocks worth considering are as follows:
Deere & Company DE currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Deere has an estimated earnings growth rate of 30% for the current fiscal year. The stock has gained 15.9% in the past six months.
Ingersoll Rand IR presently carries a Zacks Rank #2 (Buy). The company delivered a four-quarter earnings surprise of 8.5%, on average.
Ingersoll Rand has an estimated earnings growth rate of approximately 3% for the current year. The stock has rallied 22% in the past six months.
Parker-Hannifin Corporation PH presently carries a Zacks Rank #2. The company delivered a trailing four-quarter earnings surprise of 9.1%, on average.
Parker-Hannifin has an estimated earnings growth rate of 4.5% for the current fiscal year. The stock has gained 32% in the past six months.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Honeywell International Inc. (HON) : Free Stock Analysis Report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Honeywell International HON is backed by multiple tailwinds despite some volume softness due to supply-chain disruptions. Within PMT, growth in the advanced materials business is expected to continue owing to strong demand for solstice products. Despite cost inflation, pricing actions and cost-control measures are driving the company’s margin performance.
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Click to get this free report Honeywell International Inc. (HON) : Free Stock Analysis Report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. Honeywell International HON is backed by multiple tailwinds despite some volume softness due to supply-chain disruptions. Despite cost inflation, pricing actions and cost-control measures are driving the company’s margin performance.
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The company expects moderation in raw material inflation (thanks to deceleration in inflation) and improved supply chains to drive top-line growth in 2023. An improvement in the process technologies business, which returned to growth in the fourth quarter, robust catalyst shipments and demand for energy capacity should drive the PMT segment’s growth in 2023. Click to get this free report Honeywell International Inc. (HON) : Free Stock Analysis Report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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An improvement in the process technologies business, which returned to growth in the fourth quarter, robust catalyst shipments and demand for energy capacity should drive the PMT segment’s growth in 2023. Click to get this free report Honeywell International Inc. (HON) : Free Stock Analysis Report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. Honeywell International HON is backed by multiple tailwinds despite some volume softness due to supply-chain disruptions.
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aeca3bbc-e241-4ef2-b705-353610a1aecc
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720722.0
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2023-03-06 00:00:00 UTC
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Is Trending Stock Deere & Company (DE) a Buy Now?
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DE
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https://www.nasdaq.com/articles/is-trending-stock-deere-company-de-a-buy-now-1
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nan
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nan
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Deere (DE) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Shares of this agricultural equipment manufacturer have returned +6% over the past month versus the Zacks S&P 500 composite's -2% change. The Zacks Manufacturing - Farm Equipment industry, to which Deere belongs, has gained 6.1% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings Estimates
Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Deere is expected to post earnings of $8.45 per share for the current quarter, representing a year-over-year change of +24.1%. Over the last 30 days, the Zacks Consensus Estimate has changed +4.3%.
For the current fiscal year, the consensus earnings estimate of $30.27 points to a change of +30% from the prior year. Over the last 30 days, this estimate has changed +8.5%.
For the next fiscal year, the consensus earnings estimate of $31.52 indicates a change of +4.1% from what Deere is expected to report a year ago. Over the past month, the estimate has changed +7.7%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Deere.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue Growth
Even though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
In the case of Deere, the consensus sales estimate of $14.8 billion for the current quarter points to a year-over-year change of +23%. The $54.47 billion and $55.16 billion estimates for the current and next fiscal years indicate changes of +13.7% and +1.3%, respectively.
Last Reported Results and Surprise History
Deere reported revenues of $11.4 billion in the last reported quarter, representing a year-over-year change of +33.7%. EPS of $6.55 for the same period compares with $2.92 a year ago.
Compared to the Zacks Consensus Estimate of $11.31 billion, the reported revenues represent a surprise of +0.84%. The EPS surprise was +18.44%.
Over the last four quarters, Deere surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.
Valuation
Without considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Deere is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom Line
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Deere. However, its Zacks Rank #1 does suggest that it may outperform the broader market in the near term.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. Bottom Line The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Deere. Deere (DE) has recently been on Zacks.com's list of the most searched stocks.
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Last Reported Results and Surprise History Deere reported revenues of $11.4 billion in the last reported quarter, representing a year-over-year change of +33.7%. While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price. Deere (DE) has recently been on Zacks.com's list of the most searched stocks.
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The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Deere. While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price. Deere (DE) has recently been on Zacks.com's list of the most searched stocks.
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The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Deere. Deere (DE) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
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be7d188a-1710-4010-8a49-35d60cba2f57
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720723.0
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2023-03-05 00:00:00 UTC
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This Blue Chip Dividend Stock Continues to Deliver on Its Promises
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DE
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https://www.nasdaq.com/articles/this-blue-chip-dividend-stock-continues-to-deliver-on-its-promises
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nan
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nan
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Deere & Company (NYSE: DE) stock surged over 7% on Feb. 17 in response to better-than-expected first-quarter earnings and an increase in full-year guidance. Since then, Deere has given up some of those gains, but the stock is still up over 167% in the last three years -- easily outperforming the broader indices.
Let's look at why Deere's business is booming, some challenges ahead, and determine whether Deere is a buy even if its growth cools off.
Image source: Getty Images.
Deere's success in a nutshell
Deere has been one of the best-performing major industrial stocks over the last three years. A big reason for that is that Deere is heavily concentrated in both production and precision agriculture and small agriculture and turf -- which made up two-thirds of its fiscal 2022 operating profit. The rest comes from the company's construction and forestry segment and its highly profitable financial services arm.
Precision agriculture is larger in scale and is focused on sustainable business practices and cost savings to boost crop yield over time. Whereas the small agriculture and turf segment is more focused on small- and midsize customers. Both segments sell farm equipment and technology, tools and used equipment, tractors, and utility vehicles.
Unlike most of the industrial sector, the agriculture industry wasn't hit too hard by the COVID-19 pandemic. The table below shows that Deere's fiscal 2020 performance suffered only a slight slowdown compared to fiscal 2019. Deere's fiscal years end in October.
METRIC
2018
2019
2020
2021
2022
Revenue
$37 billion
$38.9 billion
$35.3 billion
$43.6 billion
$51.9 billion
Net income
$2.4 billion
$3.3 billion
$2.8 billion
$6.0 billion
$7.1 billion
Operating income
$4.1 billion
$4.2 billion
$3.9 billion
$7.6 billion
$8.8 billion
Data source: Deere & Company.
Global supply chain disruptions led to a boom in agriculture prices, which put more money in farmers' pockets and encouraged spending on new machinery. A healthy customer base supported Deere's ability to grow sales volumes and raise prices. Deere's customers had no issue absorbing Deere's higher prices in fiscal 2021 and fiscal 2022, contributing to a surge in profits.
Deere is forecasting higher price realization across the board in fiscal 2023, including a 14% increase for production and precision agriculture, an 8% increase for small agriculture and turf, and a 9% increase for construction and forestry.
If you've tuned into a Deereearnings call chances are you've heard the term "price realization" frequently mentioned. And while it's not the same thing as price increases, the end result is quite similar.
Original equipment manufacturers (OEMs) like Deere set prices for their dealers like an auto OEM will have a suggested retail price for a car. However, due to negotiations and different financing options, the dealership rarely sells that product for the exact suggested price.
Higher price realization means customers are paying more for Deere's products. This could be because the difference between the list price and the sale price is narrowing. Or it could be because Deere is raising the list price and the dealers are also raising their prices too.
Either way, higher price realization is a good sign that demand for Deere's products is strong and that the company can help to offset rising costs through higher sale prices.
Price increases, paired with flat to moderate volume growth across Deere's core markets led to the company boosting its full-year fiscal 2023 net income guidance from a prior estimate of $8 billion to $8.5 billion to its new forecast of $8.75 billion to $9.25 billion. If Deere achieves these numbers, it would mean the company more than tripled net income in three years and grew net income by over 250% from its pre-COVID 19 annual high of $3.54 billion in fiscal 2013.
What to watch for Deere in the current fiscal year
Deere's brand power, high margins, impressive execution, and vertical integration have allowed it to capitalize on a booming agriculture industry. The test going forward will be whether Deere can keep raising prices without the hikes impacting sales.
It's also important to remember that Deere is a cyclical stock whose performance can ebb and flow based on its industry's performance.
Based on its market cap of $124 billion and 2023 fiscal net income guidance of $9 billion at the midpoint, Deere has a forward price to earnings ratio of roughly 14, which is inexpensive relative to the S&P 500. Moreover, Deere has a trailing price-to-earnings ratio of 15.5, which is below its 10-year median P/E ratio of 17.1. This is a green flag for Deere investors as during a growth cycle, a cyclical stock's P/E ratio should be well below the median, and likely above the median during a downturn.
Put another way, Deere stock still isn't expensive despite the fact it has surged so much over the last few years. However, if growth slows or if Deere has to reel in its price hikes, the stock could begin to look expensive.
Deere remains a compelling long-term stock
Deere deserves a lot of credit for surpassing its already impressive expectations and boosting guidance. The company continues to grow at a rapid pace on top of multiple years of phenomenal results. But in the short term, it's hard to imagine Deere will be able to sustain its pace. Its market in North America remains strong, but the company is already guiding for weakness in Europe and Asia.
That being said, Deere remains a very well-run company, a strong brand, and an industry leader. Its long-term investments in artificial intelligence and autonomous tractors open the door to disrupting a legacy industry by helping its customers save money and improve performance.
There's no reason to sell Deere stock, but there's also no rush to buy given the company's valuation and the challenges with sustaining its current growth rate.
10 stocks we like better than Deere
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Daniel Foelber has no position in any of the stocks mentioned. The Motley Fool recommends Deere. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Deere & Company (NYSE: DE) stock surged over 7% on Feb. 17 in response to better-than-expected first-quarter earnings and an increase in full-year guidance. Since then, Deere has given up some of those gains, but the stock is still up over 167% in the last three years -- easily outperforming the broader indices. Let's look at why Deere's business is booming, some challenges ahead, and determine whether Deere is a buy even if its growth cools off.
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2018 2019 2020 2021 2022 Revenue $37 billion $38.9 billion $35.3 billion $43.6 billion $51.9 billion Net income $2.4 billion $3.3 billion $2.8 billion $6.0 billion $7.1 billion Operating income $4.1 billion $4.2 billion $3.9 billion $7.6 billion $8.8 billion Data source: Deere & Company. Price increases, paired with flat to moderate volume growth across Deere's core markets led to the company boosting its full-year fiscal 2023 net income guidance from a prior estimate of $8 billion to $8.5 billion to its new forecast of $8.75 billion to $9.25 billion. Based on its market cap of $124 billion and 2023 fiscal net income guidance of $9 billion at the midpoint, Deere has a forward price to earnings ratio of roughly 14, which is inexpensive relative to the S&P 500.
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2018 2019 2020 2021 2022 Revenue $37 billion $38.9 billion $35.3 billion $43.6 billion $51.9 billion Net income $2.4 billion $3.3 billion $2.8 billion $6.0 billion $7.1 billion Operating income $4.1 billion $4.2 billion $3.9 billion $7.6 billion $8.8 billion Data source: Deere & Company. Deere's customers had no issue absorbing Deere's higher prices in fiscal 2021 and fiscal 2022, contributing to a surge in profits. Price increases, paired with flat to moderate volume growth across Deere's core markets led to the company boosting its full-year fiscal 2023 net income guidance from a prior estimate of $8 billion to $8.5 billion to its new forecast of $8.75 billion to $9.25 billion.
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Deere's fiscal years end in October. Deere is forecasting higher price realization across the board in fiscal 2023, including a 14% increase for production and precision agriculture, an 8% increase for small agriculture and turf, and a 9% increase for construction and forestry. Put another way, Deere stock still isn't expensive despite the fact it has surged so much over the last few years.
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2023-03-05 00:00:00 UTC
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7 Agriculture Stocks That Can Ride Out Market Volatility
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
With myriad chokepoints weighing on food-related commodities, agriculture stocks to buy may rise in demand. Fundamentally, the needs associated with the agricultural industry largely benefit from inelasticity. That is, no matter what’s going on with the economy, civilizations need access to sustenance.
Specifically, one of the biggest (albeit cynical) catalysts for agriculture stocks to buy centers on Russia’s invasion of Ukraine. Since both nations represent major producers of wheat, grain production will likely be reduced significantly. Unfortunately, that’s not the only factor to consider. Even Mother Nature seems upset these days.
With damaging winter wheat crop prospects impacting areas from Argentina to southern Europe and from the U.S. to North Africa, the supply of core goods will probably be strained. Again, it’s not a holistically uplifting narrative. However, the wildness of the events associated with the new normal may keep these agriculture stocks running for a while.
TTC Toro $113.83
FMC FMC Corp. $128.40
DE Deere $430.28
ANDE Andersons $46.32
NTR Nutrien $82.81
CF CF Industries $86.16
BG Bunge $98.77
Toro (TTC)
Source: Vova Shevchuk / Shutterstock.com
Based in Bloomington, Minnesota, Toro (NYSE:TTC) designs, manufactures, and markets lawnmowers, snow blowers, and irrigation system supplies for commercial and residential, agricultural, and public sector use. Presently, the company commands a market capitalization of $11.6 billion. Since the start of the year, TTC slipped by 2%. However, in the trailing year, shares gained over 14%.
Financially, Toro’s greatest strengths lie in its operational attributes. For example, its three-year revenue growth rate stands at 13.8%, outpacing over 77% of the competition. On the bottom line, the company features a net margin of 9.82%, above 72.54% of the industry.
To be fair, it’s not that much of a source of passive income, carrying a forward yield of only 1.23%. However, Toro’s payout ratio stands at 24.65%, making it very sustainable. As well, the company is on a 19-year streak for consecutive annual dividend increases. Interestingly, Wall Street analysts peg TTC as a consensus moderate buy. Also, their average price target stands at $123, implying 11% upside potential. Therefore, it’s a solid idea for agriculture stocks to buy.
FMC Corp (FMC)
Source: Epic Cure / Shutterstock
Headquartered in Philadelphia, Pennsylvania, FMC Corp (NYSE:FMC) is an agricultural sciences company that advances farming through innovative and sustainable crop protection technologies, per its website. At the moment, FMC carries a market cap of $16 billion. Since the January opener, FMC gained over 2%. And in the trailing year, it’s up over 7%.
As with Toro above, FMC’s greatest strengths lie in its operations. In particular, its three-year book growth rate stands at 11.2%, outpacing 62.56% of its peers. On the bottom line, the company features a net margin of 12.69%, above 72.81% of the underlying sector. For dividend lovers, FMC rates a tad bit more generous than Toro, though not by much. Its forward yield sits at 1.81%. However, the company’s payout ratio pings at just under 26%, indicating a sustainable yield.
Turning to Wall Street, covering analysts peg FMC as a consensus strong buy. As well, their average price target stands at $144.30, implying nearly 13% upside potential. Again, it makes for a solid idea for agriculture stocks to buy.
Deere (DE)
Source: Zurijeta / Shutterstock.com
A manufacturer of agricultural equipment, Deere (NYSE:DE) is an indirect play among agriculture stocks to buy. However, as demand in the space picks up, Deere could be a natural beneficiary. Presently, the company commands a market cap of $124.38 billion. Since the January opener, DE slipped by 1%. However, in the trailing year, shares gained nearly 12% of equity value.
As with other agriculture stocks to buy, Deere rates best in the operational department. However, it does make for objectively solid value. Presently, DE’s price-earnings-growth (PEG) ratio sits at 0.97 times, below the sector median PEG of 1.19. For operations, the company features a three-year revenue growth rate of 11.7%, outrunning 78% of the field. In terms of net margin, it posted 14.9%, blowing past nearly 92% of its rivals. Looking to the Street, covering analysts peg DE as a consensus moderate buy. As well, their average price target stands at $473.53, implying nearly 13% upside potential.
Andersons (ANDE)
Source: shutterstock.com/CC7
Headquartered in Maumee, Ohio, Andersons (NASDAQ:ANDE) is a diversified organization conducting business in the commodity merchandising, renewables, and plant nutrient sectors. Currently, the enterprise features a market cap of $1.54 billion. Since the Jan. opener, ANDE gained almost 36% of its equity value. In the past 365 days, though, it slipped nearly 4%.
A good chunk of its resurgence centers on the company’s strong fourth-quarter earnings report. As well, the company delivers a set of intriguing valuation metrics. First up, the market prices ANDE at a trailing multiple of 12.12. As a discount to earnings, Andersons ranks better than 68.53% of its peers. Moreover, ANDE trades at a trailing sales multiple of 0.09. This stat ranks better than 92% of the industry.
Similar to other direct agriculture stocks to buy, Andersons doesn’t deliver much in the way of passive income. Its forward yield sits at 1.61%. However, just like the others, its payout ratio is 21.45%, indicating sustainability. Also, the company features 25 years of consecutive dividend increases. Lastly, covering analysts peg ANDE as a consensus moderate buy. Further, their average price target stands at $52.50, implying 14% upside potential.
Nutrien (NTR)
Source: Freedom365day / Shutterstock.com
A Canadian fertilizer company, Nutrien (NYSE:NTR) is the largest producer of potash and the third-largest producer of nitrogen fertilizer in the world, per its public profile. Naturally, these stats afford the enterprise incredible relevancy. Currently, Nutrien carries a market cap of 53.36 billion CAD (about $39.18 billion). Since the January opener, NTR gained almost 10% of its equity value.
Still, in the trailing year, NTR dropped almost 11%, possibly making it undervalued. Indeed, the market prices NTR at a trailing multiple of 5.58. As a discount to earnings, Nutrien ranks better than 81.72% of the competition. Also, its PEG ratio sits at 0.11 times, lower than over 96% of sector players. One notable feature of NTR compared to other agriculture stocks to buy focuses on passive income. Nutrien carries a forward yield of 2.7, very close to the sector average of 2.82%. And just like the other enterprises, Nutrien features a low payout ratio of 25.27%.
Finally, covering analysts peg NTR as a consensus moderate buy. Moreover, their average price target stands at $91.36, implying over 16% upside potential.
CF Industries (CF)
Source: Chompoo Suriyo / Shutterstock.com
Based in Deerfield, Illinois, CF Industries (NYSE:CF) is a manufacturer and distributor of agricultural fertilizers, including ammonia, urea, and ammonium nitrate products. Currently, the company commands a market cap of $16.67 billion. Since the January opener, CF gained nearly 4% of its equity value. In the past 365 days, CF moved up a modest half a percent.
Immediately, bargain hunters of agriculture stocks to buy may notice the value proposition. Presently, the market prices CF at a trailing multiple of 5.22. As a discount to earnings, CF ranks better than 84.95% of the competition. Further, CF trades at a forward multiple of 6.99, lower than 61.9% of the field.
As for the passive income department, it could use some work. CF carries a forward yield of 1.88%; it’s not great but not terrible either. Plus, the company features an ultra-low payout ratio of 18.71%. Turning to Wall Street, covering analysts peg CF as a consensus moderate buy. Further, their average price target stands at $104.43, implying over 19% upside potential. Thus, it could be a growth opportunity among agriculture stocks to buy.
Bunge (BG)
Source: ImageFlow/Shutterstock.com
An agribusiness and food company, Bunge (NYSE:BG) focuses on the international soybean export industry. As well, it’s involved in food processing, grain trading, and fertilizer. Presently, the company carries a market cap of $14.27 billion. Since the Jan. opener, BG dipped almost half a percent. In the trailing year, shares gave up nearly 12% of equity value.
Again, bargain hunters will appreciate the value proposition that Bunge brings to the table. Right now, the market prices BG at a trailing multiple of 9.05. As a discount to earnings, Bunge ranks better than 76.36% of the competition. Further, BG trades hands at 8.04-times forward earnings, which sits well south of the industry median of 16.97 times. Aside from the discount, Bunge provides some decent passive income with a forward yield of 2.63%. As well, the company’s payout ratio sits at 22.1%, indicating a sustainable yield.
Lastly, Wall Street analysts peg BG as a consensus strong buy. Moreover, their average price target stands at $123, implying over 29% upside potential. Thus, it’s a compelling example of agriculture stocks to buy.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
The post 7 Agriculture Stocks That Can Ride Out Market Volatility appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. InvestorPlace - Stock Market News, Stock Advice & Trading Tips With myriad chokepoints weighing on food-related commodities, agriculture stocks to buy may rise in demand. Unfortunately, that’s not the only factor to consider.
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TTC Toro $113.83 FMC FMC Corp. $128.40 DE Deere $430.28 ANDE Andersons $46.32 NTR Nutrien $82.81 CF CF Industries $86.16 BG Bunge $98.77 Toro (TTC) Source: Vova Shevchuk / Shutterstock.com Based in Bloomington, Minnesota, Toro (NYSE:TTC) designs, manufactures, and markets lawnmowers, snow blowers, and irrigation system supplies for commercial and residential, agricultural, and public sector use. CF Industries (CF) Source: Chompoo Suriyo / Shutterstock.com Based in Deerfield, Illinois, CF Industries (NYSE:CF) is a manufacturer and distributor of agricultural fertilizers, including ammonia, urea, and ammonium nitrate products. InvestorPlace - Stock Market News, Stock Advice & Trading Tips With myriad chokepoints weighing on food-related commodities, agriculture stocks to buy may rise in demand.
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TTC Toro $113.83 FMC FMC Corp. $128.40 DE Deere $430.28 ANDE Andersons $46.32 NTR Nutrien $82.81 CF CF Industries $86.16 BG Bunge $98.77 Toro (TTC) Source: Vova Shevchuk / Shutterstock.com Based in Bloomington, Minnesota, Toro (NYSE:TTC) designs, manufactures, and markets lawnmowers, snow blowers, and irrigation system supplies for commercial and residential, agricultural, and public sector use. Deere (DE) Source: Zurijeta / Shutterstock.com A manufacturer of agricultural equipment, Deere (NYSE:DE) is an indirect play among agriculture stocks to buy. CF Industries (CF) Source: Chompoo Suriyo / Shutterstock.com Based in Deerfield, Illinois, CF Industries (NYSE:CF) is a manufacturer and distributor of agricultural fertilizers, including ammonia, urea, and ammonium nitrate products.
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As with other agriculture stocks to buy, Deere rates best in the operational department. Similar to other direct agriculture stocks to buy, Andersons doesn’t deliver much in the way of passive income. InvestorPlace - Stock Market News, Stock Advice & Trading Tips With myriad chokepoints weighing on food-related commodities, agriculture stocks to buy may rise in demand.
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2023-03-04 00:00:00 UTC
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Deere Stock Gallops Toward an All-Time High, but Is It a Buy?
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Deere & Company (NYSE: DE) stock came close to eclipsing its previous all-time high last month after the industrial company reported better-than-expected results for its fiscal 2023 first quarter and raised its guidance for the full fiscal year.
However, the stock has sold off since then along with the broader market. Let's look at the company's most recently reported quarter -- including its balance sheet, dividend, spending, and valuation -- to determine if Deere is a good buy now.
Image source: Getty Images.
A phenomenal quarter
For the quarter, which ended Jan. 29, net sales were up 34% year over year, net income more than doubled from $903 million to $1.96 billion, and diluted earnings per share pole-vaulted by 124% to $6.55.
The company also raised its fiscal 2023 net income forecast from a prior range of $8 billion-$8.5 billion to a new estimated range of $8.75 billion-$9.25 billion. The company expects net operating cash flow from equipment operations to be between $9.25 billion and $9.75 billion.
Though it has been experiencing weakness in Asia and Europe, Deere remains confident that it will be able to implement further sizable price hikes, just as it did in fiscal 2021 and 2022. Deere has been successful in growing order volumes despite higher prices. Management noted that inventories remain low and customer demand is strong.
The strength of the agriculture price index points to relatively high corn, wheat, and soybean prices, though these commodities are down from their recent peaks.
DE data by YCharts.
It's worth noting that in 2022, Deere stock initially fell in lockstep with the index's slump. But Deere has since surged back toward all-time highs even as the agriculture price index has kept declining -- a testament to Deere's brand power and the strength of its customer base.
Even though the index is down around 14% from its all-time high, it is still up by around 30% over the last five years. Sustained higher crop prices cause food inflation. But at the same time, these higher crop prices directly benefit farmers -- and, in turn, Deere.
Financial strength
Deere's total net long-term debt is at an all-time high. But that's because Deere is a far larger business today than it was just five or 10 years ago.
DE Net Total Long Term Debt (Quarterly) data by YCharts.
In fact, the company's debt-to-capital and financial-debt-to-equity ratios are both at 10-year lows, which illustrates that the company isn't overly leveraged and has a healthy capital structure.
Returning value, increasing spending
Deere management has repeatedly said that it prioritizes operational performance and long-term growth over the dividend or share buybacks. Even so, it has doubled the dividend in the last five years, and decreased its outstanding share count by 8.4%. The reason the dividend yield is just 1.2% is mostly due to the rapidly rising stock price. Had Deere stock been flat over the last three years, its yield would be closer to 3%.
Just as Deere's debt levels have gone up, so too has its spending. Deere expects selling, general, and administrative (SG&A) expenses to rise by 16% in fiscal 2023 and research and development (R&D) spending to increase by 14%. Yet despite those increases, the cost of goods sold remains by far the most dominant spending category for Deere.
DE Revenue (Annual) data by YCharts.
And even though SG&A and R&D outlays are on the rise, they are growing at a slower rate than the cost of goods sold -- which shows that Deere isn't being overly aggressive with its spending. In fact, Deere is in a great position because it can support a growing dividend and buybacks, plus higher spending across the board without hurting its balance sheet.
If Deere grows its R&D budget by 14% in fiscal 2023, it would exceed $2 billion annually for the first time ever. It's a costly endeavor, but Deere values R&D because it believes in the adoption of artificial intelligence (AI) and autonomous tractors to improve efficiency and lower costs for its customers. Few companies have $2 billion a year lying around to spend on R&D. If Deere keeps investing wisely, it stands a good chance to take advantage of this industry evolution if and when it occurs.
A not-so-cheap valuation
As impressive as Deere's performance is, the stock isn't cheap. Deere's price-to-cash-flow-from-operations ratio and price-to-book-value ratio are above their 10-year medians. And its price-to-earnings ratio is close to the 10-year median.
DE PE Ratio data by YCharts.
With Deere's earnings and cash flow from operations at all-time highs, we would normally expect these ratios to be below their averages. The issue is that Deere's stock price has surged so much.
An excellent company, but the stock isn't a screaming buy
Deere is a classic example of a company that is doing just about everything right, but its stock price already reflects that fact. It isn't a good value stock because it isn't inexpensive. And it's not a particularly compelling dividend stock because its yield is too low.
Rather, Deere is a cyclical stock undergoing explosive growth due to factors both outside and within its control. It has a multi-decade growth runway and the potential to transform its industry. But it remains to be seen how receptive its customers will be to AI and automation.
Add it all up, and Deere seems to be a stock worth watching or maybe opening a starter position in. But there's no reason to go out and buy the stock hand over fist at this time.
10 stocks we like better than Deere
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Deere wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of February 8, 2023
Daniel Foelber has no position in any of the stocks mentioned. The Motley Fool recommends Deere. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Let's look at the company's most recently reported quarter -- including its balance sheet, dividend, spending, and valuation -- to determine if Deere is a good buy now. Returning value, increasing spending Deere management has repeatedly said that it prioritizes operational performance and long-term growth over the dividend or share buybacks. And even though SG&A and R&D outlays are on the rise, they are growing at a slower rate than the cost of goods sold -- which shows that Deere isn't being overly aggressive with its spending.
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Let's look at the company's most recently reported quarter -- including its balance sheet, dividend, spending, and valuation -- to determine if Deere is a good buy now. Financial strength Deere's total net long-term debt is at an all-time high. Returning value, increasing spending Deere management has repeatedly said that it prioritizes operational performance and long-term growth over the dividend or share buybacks.
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Deere & Company (NYSE: DE) stock came close to eclipsing its previous all-time high last month after the industrial company reported better-than-expected results for its fiscal 2023 first quarter and raised its guidance for the full fiscal year. But Deere has since surged back toward all-time highs even as the agriculture price index has kept declining -- a testament to Deere's brand power and the strength of its customer base. An excellent company, but the stock isn't a screaming buy Deere is a classic example of a company that is doing just about everything right, but its stock price already reflects that fact.
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Even though the index is down around 14% from its all-time high, it is still up by around 30% over the last five years. Yet despite those increases, the cost of goods sold remains by far the most dominant spending category for Deere. Deere & Company (NYSE: DE) stock came close to eclipsing its previous all-time high last month after the industrial company reported better-than-expected results for its fiscal 2023 first quarter and raised its guidance for the full fiscal year.
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2023-03-03 00:00:00 UTC
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Timken (TKR) Stock Scales 52-Week High: What's Driving It?
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Shares of The Timken Company TKR scaled a new 52-week high of $87.94 on Mar 2, before closing the session a tad lower at $87.66.
TKR has a market capitalization of $6.35 billion and a Zacks Rank #3 (Hold), currently.
In the past year, Timken’s shares have gained 32.7% compared with the industry’s 3.5% growth.
Image Source: Zacks Investment Research
Driving Factors
Underlying customer demand and end-market momentum remain strong across most of Timken’s sectors. TKR continues to witness business wins in new markets and regions. Apart from strong demand, earnings growth continues to be supported by benefits from price realization and growth initiatives. The company has managed to offset the impacts of inflationary cost pressure through pricing actions and operational excellence initiatives. Timken has been adding to its inventory to meet the high customer demand and to accommodate supply-chain issues. This has helped in mitigating internal and external supply-chain constraints and inefficiencies.
Timken reported record adjusted EPS of $6.02 in 2022, which increased 28% year over year. The year-over-year improvement is primarily due to favorable pricing actions and higher volume, which are partially offset by higher operating costs and interest expenses, a higher tax rate, and the net unfavorable impact of impairment charges and other special items.
Total revenues in 2022 were $4.5 billion, 8.8% higher on a year-over-year basis. The upside was due to organic growth across most end-market sectors, and the impacts of higher pricing and acquisitions, partially offset by unfavorable foreign currency translation.
Backed by the healthy demand in its end markets, Timken expects 2023 total revenues to be up 6% at the mid-point from the 2022 reported levels. The company anticipates adjusted EPS between $6.50 and $7.10 per share for the year. TKR expects to benefit from favorable price-cost, organic outgrowth initiatives, improving operational execution and the impacts of recent acquisitions.
Earnings estimates for Timken have also moved up over the past month. The Zacks Consensus Estimate for 2023 bottom line has increased 3% and the same for 2024 has moved up 4%. The favorable estimate revisions instill investor’s confidence in the stock.
Key Picks
Some better-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS sport a Zacks Rank #1 (Strong Buy) at present, and DE has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.57 per share. This indicates an 11.7% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 16% north in the past 60 days. OI’s shares gained 71.3% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $6.04 per share. This indicates a 39.5% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 17% in the past 60 days. Its shares gained 29.7% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 4.7%. Its shares gained 15.9% in the last year.
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O-I Glass, Inc. (OI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Timken Company (The) (TKR) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Image Source: Zacks Investment Research Driving Factors Underlying customer demand and end-market momentum remain strong across most of Timken’s sectors. The upside was due to organic growth across most end-market sectors, and the impacts of higher pricing and acquisitions, partially offset by unfavorable foreign currency translation. Apart from strong demand, earnings growth continues to be supported by benefits from price realization and growth initiatives.
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The upside was due to organic growth across most end-market sectors, and the impacts of higher pricing and acquisitions, partially offset by unfavorable foreign currency translation. Key Picks Some better-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Timken Company (The) (TKR) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Timken Company (The) (TKR) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Image Source: Zacks Investment Research Driving Factors Underlying customer demand and end-market momentum remain strong across most of Timken’s sectors.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Image Source: Zacks Investment Research Driving Factors Underlying customer demand and end-market momentum remain strong across most of Timken’s sectors. Apart from strong demand, earnings growth continues to be supported by benefits from price realization and growth initiatives.
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8afa13aa-663a-4199-b286-416cbd47474c
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720727.0
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2023-03-03 00:00:00 UTC
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Noteworthy Friday Option Activity: TOL, NKE, DE
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Toll Brothers Inc. (Symbol: TOL), where a total of 7,291 contracts have traded so far, representing approximately 729,100 underlying shares. That amounts to about 46.2% of TOL's average daily trading volume over the past month of 1.6 million shares. Particularly high volume was seen for the $45 strike put option expiring September 15, 2023, with 2,989 contracts trading so far today, representing approximately 298,900 underlying shares of TOL. Below is a chart showing TOL's trailing twelve month trading history, with the $45 strike highlighted in orange:
Nike (Symbol: NKE) options are showing a volume of 23,464 contracts thus far today. That number of contracts represents approximately 2.3 million underlying shares, working out to a sizeable 45.4% of NKE's average daily trading volume over the past month, of 5.2 million shares. Especially high volume was seen for the $110 strike put option expiring April 21, 2023, with 1,278 contracts trading so far today, representing approximately 127,800 underlying shares of NKE. Below is a chart showing NKE's trailing twelve month trading history, with the $110 strike highlighted in orange:
And Deere & Co. (Symbol: DE) options are showing a volume of 7,391 contracts thus far today. That number of contracts represents approximately 739,100 underlying shares, working out to a sizeable 45.2% of DE's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $415 strike put option expiring March 10, 2023, with 390 contracts trading so far today, representing approximately 39,000 underlying shares of DE. Below is a chart showing DE's trailing twelve month trading history, with the $415 strike highlighted in orange:
For the various different available expirations for TOL options, NKE options, or DE options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
S&P 500 Components Hedge Funds Are Buying
ETFs Holding DLX
CIG Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $45 strike put option expiring September 15, 2023, with 2,989 contracts trading so far today, representing approximately 298,900 underlying shares of TOL. Especially high volume was seen for the $110 strike put option expiring April 21, 2023, with 1,278 contracts trading so far today, representing approximately 127,800 underlying shares of NKE. Particularly high volume was seen for the $415 strike put option expiring March 10, 2023, with 390 contracts trading so far today, representing approximately 39,000 underlying shares of DE.
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That number of contracts represents approximately 2.3 million underlying shares, working out to a sizeable 45.4% of NKE's average daily trading volume over the past month, of 5.2 million shares. Below is a chart showing NKE's trailing twelve month trading history, with the $110 strike highlighted in orange: And Deere & Co. (Symbol: DE) options are showing a volume of 7,391 contracts thus far today. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Toll Brothers Inc. (Symbol: TOL), where a total of 7,291 contracts have traded so far, representing approximately 729,100 underlying shares.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Toll Brothers Inc. (Symbol: TOL), where a total of 7,291 contracts have traded so far, representing approximately 729,100 underlying shares. Particularly high volume was seen for the $45 strike put option expiring September 15, 2023, with 2,989 contracts trading so far today, representing approximately 298,900 underlying shares of TOL. That number of contracts represents approximately 2.3 million underlying shares, working out to a sizeable 45.4% of NKE's average daily trading volume over the past month, of 5.2 million shares.
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Particularly high volume was seen for the $45 strike put option expiring September 15, 2023, with 2,989 contracts trading so far today, representing approximately 298,900 underlying shares of TOL. That number of contracts represents approximately 739,100 underlying shares, working out to a sizeable 45.2% of DE's average daily trading volume over the past month, of 1.6 million shares. Below is a chart showing DE's trailing twelve month trading history, with the $415 strike highlighted in orange: For the various different available expirations for TOL options, NKE options, or DE options, visit StockOptionsChannel.com.
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d1d84f45-a234-448b-ae41-fb185736132f
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720728.0
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2023-03-03 00:00:00 UTC
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Here's Why You Should Hold On to Graco (GGG) Stock for Now
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https://www.nasdaq.com/articles/heres-why-you-should-hold-on-to-graco-ggg-stock-for-now
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Graco Inc. GGG stands to gain from its pricing actions, solid backlog level, a strong customer base and product investments despite supply-chain woes, high labor, logistics and raw material costs.
Graco’s Industrial segment is benefiting from robust product categories such as finishing systems and sealant and adhesive equipment. Solid footing across multiple industries like general industry, aviation and solar also bode well for the segment. Sales growth of lubrication equipment, process pumps and semiconductor pumps, and heaters and fittings are benefiting the Process segment. New product launches and channel expansion initiatives are also aiding the segment.
Graco’s policy of investing in product innovation and capacity expansion should fuel its growth. In 2023, the company anticipates capital expenditures of approximately $200 million, with $130 million for facility expansion projects at its Minnesota, South Dakota, Switzerland and Romania facilities. In 2022, GGG invented products like ES 500 Stencil rig, LineLazer ES 500 electric battery-powered airless striper, et al.
GGG’s measures to reward shareholders through dividends and share buybacks are noteworthy. It paid out dividends of $142.1 million in 2022 and repurchased shares worth $233.4 million in the same period. Also, the quarterly dividend rate was hiked by 11.9% in December 2022.
In light of the abovementioned positives, we believe, investors should hold on to Graco stock for now, as suggested by its current Zacks Rank #3 (Hold). In the past six months, the stock has rallied 10.2%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
Deere & Company DE presently sports a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, Deere & Company’s earnings estimates have increased 8% for fiscal 2023. The stock has rallied 16.3% in the past six months.
Ingersoll Rand Inc. IR presently carries a Zacks Rank #2 (Buy). IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, Ingersoll Rand’s earnings estimates have increased 3.4% for 2023. The stock has gained 22.1% in the past six months.
Parker-Hannifin Corporation PH presently has a Zacks Rank of 2. PH’s earnings surprise in the last four quarters was 9.1%, on average.
In the past 60 days, Parker-Hannifin’s earnings estimates have increased 2% for fiscal 2023. The stock has rallied 34.2% in the past six months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Graco Inc. (GGG) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Graco Inc. GGG stands to gain from its pricing actions, solid backlog level, a strong customer base and product investments despite supply-chain woes, high labor, logistics and raw material costs. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked companies from the Industrial Products sector are discussed below: Solid footing across multiple industries like general industry, aviation and solar also bode well for the segment.
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Deere & Company DE presently sports a Zacks Rank #1 (Strong Buy). In the past 60 days, Deere & Company’s earnings estimates have increased 8% for fiscal 2023. Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Graco Inc. (GGG) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Stocks to Consider Some better-ranked companies from the Industrial Products sector are discussed below: Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Graco Inc. (GGG) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. Graco Inc. GGG stands to gain from its pricing actions, solid backlog level, a strong customer base and product investments despite supply-chain woes, high labor, logistics and raw material costs.
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Image Source: Zacks Investment Research Stocks to Consider Some better-ranked companies from the Industrial Products sector are discussed below: Graco Inc. GGG stands to gain from its pricing actions, solid backlog level, a strong customer base and product investments despite supply-chain woes, high labor, logistics and raw material costs. Solid footing across multiple industries like general industry, aviation and solar also bode well for the segment.
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8b4d926e-b9fa-428a-ae17-356da33673f6
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720729.0
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2023-03-03 00:00:00 UTC
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Grainger (GWW) Hits 52-Week High: What's Driving the Upside?
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Shares of W.W. Grainger, Inc. GWW scaled a new 52-week high of $686.88 on Mar 2, before closing the session a tad lower at $684.50.
GWW has a market capitalization of $33.7 billion and a Zacks Rank #1 (Strong Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past year, Grainger’s shares have gained 42.2% compared with the industry’s growth of 2%.
Image Source: Zacks Investment Research
Driving Factors
Grainger delivered improvement in the bottom and top lines in 2022, aided by margin improvement in the High-Touch Solutions North America (N.A.) and Endless Assortment segments, as well as strong operating performance.
The High-Touch Solutions N.A. segment has been gaining from volume growth across all geographies and strong price realization. The segment’s gross margin is benefiting from an improved product mix and favorable price spread, realizing a timing benefit. The Endless Assortment segment’s top line improved year over year in the last reported quarter, owing to strong customer acquisition and repeat business. Customer growth at MonotaRO also aids the segment’s revenues.
Despite persisting product shortages and delays, higher SG&A expenses, and rising operating costs, Grainger can negate the impacts with its pricing actions and lower freight costs.
Moreover, the company’s ability to navigate supply-chain challenges, backed by an improved non-pandemic product mix, is driving margins. Grainger’s initiatives to manage inventory effectively and invest in marketing are resulting in further profitability.
Backed by these tailwinds, Grainger reported net sales of $15.23 billion in 2022. The top-line figure marked a 17% year-over-year increase. The company delivered adjusted earnings per share of $29.66 in 2022, up 49.5% year over year.
Earnings estimates for Grainger have also been going up over the past two months. The Zacks Consensus Estimate for 2023 bottom line has increased around 8% and the same for 2024 has moved up 7.8%. The consensus estimate for first-quarter 2023 earnings has been revised 14.6% upward over the same time frame. The favorable estimate revisions instill investor confidence in the stock.
Other Key Picks
Some other top-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS flaunt a Zacks Rank #1 at present, and DE has a Zacks Rank #2 (Buy).
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.57 per share. This indicates an 11.7% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 16% north in the past 60 days. OI’s shares gained 79.2% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $6.04 per share. This indicates a 39.5% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 17% in the past 60 days. Its shares gained 26.1% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 4.7%. Its shares gained 11.6% in the last year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
O-I Glass, Inc. (OI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Moreover, the company’s ability to navigate supply-chain challenges, backed by an improved non-pandemic product mix, is driving margins. The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Image Source: Zacks Investment Research Driving Factors Grainger delivered improvement in the bottom and top lines in 2022, aided by margin improvement in the High-Touch Solutions North America (N.A.) Other Key Picks Some other top-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Image Source: Zacks Investment Research Driving Factors Grainger delivered improvement in the bottom and top lines in 2022, aided by margin improvement in the High-Touch Solutions North America (N.A.)
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Image Source: Zacks Investment Research Driving Factors Grainger delivered improvement in the bottom and top lines in 2022, aided by margin improvement in the High-Touch Solutions North America (N.A.) The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Despite persisting product shortages and delays, higher SG&A expenses, and rising operating costs, Grainger can negate the impacts with its pricing actions and lower freight costs.
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d4ea35c7-4ddb-4264-bcdb-30cb03afe415
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720730.0
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2023-03-02 00:00:00 UTC
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Rockwell Automation (ROK) Buys Knowledge Lens to Boost Growth
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https://www.nasdaq.com/articles/rockwell-automation-rok-buys-knowledge-lens-to-boost-growth
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Rockwell Automation, Inc. ROK announced that it acquired Knowledge Lens, a services and solutions provider based in Bengaluru, India . Following the acquisition, Knowledge Lens will merge with Rockwell Automation's digital services business, Kalypso.
The financial terms of the acquisition are not yet disclosed.
The increase in demand to scale connectivity, as well as enable data-driven predictive and prescriptive insights, is aiding growth of Rockwell Automation’s digital transformation services business. The addition of Knowledge Lens will further expand Rockwell Automation’s capabilities to harness the power of data and enable autonomous manufacturing.
Moreover, the acquisition strengthens Rockwell Automation’s capability to assist more manufacturers worldwide in locating and utilizing the hidden insights in their data. The deal will also benefit from Knowledge Lens' pre-packaged cloud-native solutions for frequent use cases. Knowledge Lens further broadens Kalypso's capacity for supporting consumers through an open platform approach encompassing leading AI and digital technologies.
Founded in 2013, Knowledge Lens caters to a broad range of manufacturers, with a focus on highly regulated industries.
Rockwell Automation’s Kalypso offers expert services in strategy and change management, data science and artificial intelligence, enterprise technology, and managed services. It guides customers from the conception of a product to its manufacturing and delivery.
In the first quarter of fiscal 2023, Rockwell Automation delivered total revenues of $1,981 million, up 6.7% from the prior-year quarter. The top line beat the Zacks Consensus Estimate of $1,892 million. The company reported adjusted earnings per share of $2.46 in the quarter ended Dec 31, 2022, surpassing the Zacks Consensus Estimate of $1.81. The bottom line rose 15% year over year on higher sales volume and positive price/cost.
Rockwell Automation has a four-year-trailing surprise of 6.9%, on average.
Price Performance
In the past year, Rockwell Automation’s shares have gained 8.9% compared with the industry’s growth of 7.2%.
Image Source: Zacks Investment Research
Zacks Rank and Other Stocks to Consider
Rockwell Automation currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS flaunt a Zacks Rank #1 (Strong Buy) at present, and DE has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.57 per share. This indicates an 11.7% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 16% north in the past 60 days. OI’s shares gained 79.2% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $6.04 per share. This indicates a 39.5% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 17% in the past 60 days. Its shares gained 26.1% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 4.7%. Its shares gained 11.6% in the last year.
Is THIS the Ultimate New Clean Energy Source? (4 Ways to Profit)
The world is increasingly focused on eliminating fossil fuels and ramping up use of renewable, clean energy sources. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries.
Our urgent special report reveals 4 hydrogen stocks primed for big gains - plus our other top clean energy stocks.
See Stocks Now
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
O-I Glass, Inc. (OI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Rockwell Automation, Inc. (ROK) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The increase in demand to scale connectivity, as well as enable data-driven predictive and prescriptive insights, is aiding growth of Rockwell Automation’s digital transformation services business. Knowledge Lens further broadens Kalypso's capacity for supporting consumers through an open platform approach encompassing leading AI and digital technologies. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries.
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Image Source: Zacks Investment Research Zacks Rank and Other Stocks to Consider Rockwell Automation currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Rockwell Automation, Inc. (ROK) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Zacks Rank and Other Stocks to Consider Rockwell Automation currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Rockwell Automation, Inc. (ROK) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Rockwell Automation, Inc. ROK announced that it acquired Knowledge Lens, a services and solutions provider based in Bengaluru, India . The increase in demand to scale connectivity, as well as enable data-driven predictive and prescriptive insights, is aiding growth of Rockwell Automation’s digital transformation services business.
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720731.0
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2023-03-02 00:00:00 UTC
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Astec (ASTE) Earnings Lag Estimates in Q4, Revenues Rise Y/Y
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Astec Industries, Inc. ASTE reported fourth-quarter 2022 adjusted earnings per share of 34 cents, missing the Zacks Consensus Estimate of earnings of 38 cents. The company reported an adjusted loss of 6 cents per share in the prior-year quarter.
Including one-time items, the company reported a loss per share of 4 cents in the quarter under review compared with a loss of 44 cents per share in the year-ago quarter.
Revenues & Backlog
Astec’s revenues increased 31.2% year over year to $350 million in the quarter under review. The top line beat the Zacks Consensus Estimate of $312 million. Domestic sales were up 32.2% year over year and International sales were up 27.4%. The upside was driven by higher volumes, and pricing initiatives.
Given the strong demand, Astec reported a backlog of $913 million in 2022, marking year-over-year growth of 19.7%. Domestic backlog rose 23.3% year over year to $773 million, while international backlog increased 2.8% to $139 million.
Astec Industries, Inc. Price, Consensus and EPS Surprise
Astec Industries, Inc. price-consensus-eps-surprise-chart | Astec Industries, Inc. Quote
Operating Performance
The adjusted cost of sales rose 30.8% year over year to $279 million in the fourth quarter. The adjusted gross profit was $71 million compared with the year-ago quarter’s $53 million. The adjusted gross margin was 20.3% compared with the year-ago quarter’s 20%.
Adjusted selling, general, administrative and engineering (SG&A) increased 2.5% year over year to around $48 million. The company reported an adjusted operating income of $14.7 million, a notable increase from $0.2 million in the prior year. The adjusted operating margin was 4.2% compared with 0.1% in the prior-year quarter.
Adjusted EBITDA was $22.2 million in the reported quarter, up from the year-ago quarter’s $7 million. The adjusted EBITDA margin was 6.3% compared with 2.6% in the previous year.
Segment Performance
Revenues in the Infrastructure Solutions segment were up 27.1% to $238.4 million from the year-ago quarter. The segment’s adjusted gross profit was $48.2 million compared with the prior-year quarter’s $35.9 million.
The Materials Solutions segment’s total revenues were $110 million in the quarter under review, marking a year-over-year increase of 39%. The segment’s adjusted gross profit was $21.7 million, up 19.8% year over year.
Financial Position
Astec ended 2022 with cash and cash equivalents of $66 million compared with $134.4 million at 2021 end. At the end of 2022, the company’s long-term debt was $78.1 million compared with $0.2 million at the end of 2021.
2022 Performance
Astec reported an adjusted EPS of $1.23 in 2022 compared with $1.38 in the prior year. Earnings missed the Zacks Consensus Estimate of $1.26.
Sales were up 16.3% year over year to $1.27 billion. The top line surpassed the Zacks Consensus Estimate of $1.24 billion.
Price Performance
Astec’s shares have lost 2.2% in the past year against the industry's growth of 24.1%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Astec currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS flaunt a Zacks Rank #1 (Strong Buy) at present, and DE has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.57 per share. This indicates an 11.7% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 16% north in the past 60 days. OI’s shares gained 79.2% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $6.04 per share. This indicates a 39.5% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 17% in the past 60 days. Its shares gained 26.1% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 4.7%. Its shares gained 11.6% in the last year.
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O-I Glass, Inc. (OI) : Free Stock Analysis Report
Astec Industries, Inc. (ASTE) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries. Including one-time items, the company reported a loss per share of 4 cents in the quarter under review compared with a loss of 44 cents per share in the year-ago quarter.
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Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Astec Industries, Inc. (ASTE) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Including one-time items, the company reported a loss per share of 4 cents in the quarter under review compared with a loss of 44 cents per share in the year-ago quarter. Revenues & Backlog Astec’s revenues increased 31.2% year over year to $350 million in the quarter under review.
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Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Astec Industries, Inc. (ASTE) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Including one-time items, the company reported a loss per share of 4 cents in the quarter under review compared with a loss of 44 cents per share in the year-ago quarter. Revenues & Backlog Astec’s revenues increased 31.2% year over year to $350 million in the quarter under review.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Including one-time items, the company reported a loss per share of 4 cents in the quarter under review compared with a loss of 44 cents per share in the year-ago quarter. Revenues & Backlog Astec’s revenues increased 31.2% year over year to $350 million in the quarter under review.
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607ea19d-5bc8-4c85-9cf4-b73f30ac3168
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720732.0
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2023-03-02 00:00:00 UTC
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Terex (TEX) Stock Scales 52-Week High: What's Driving It?
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Shares of Terex Corporation TEX scaled a new 52-week high of $60.01 on Apr 1, before closing the session a tad lower at $59.99.
TEX has a market capitalization of $4.05 billion and a Zacks Rank #2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past year, Terex’s shares have gained 50.2% compared with the industry’s 28.6% growth.
Image Source: Zacks Investment Research
Driving Factors
Terex delivered improvements in the bottom and the top lines in the fourth quarter of 2022, courtesy of strong demand and order growth. Its backlog has shown year-over-year growth for nine consecutive quarters and reached $4.1 billion at the end of the fourth quarter of 2022. Consolidated 2022 bookings remained at healthy levels and were the second-highest booking rate in recent history.
For 2023, Terex expects earnings per share to range between $4.60 and $5.00. The mid-point of the guidance indicates year-over-year growth of 11%. This is expected to be driven by solid demand, pricing and cost-saving actions which will negate the impact of the ongoing supply-chain disruptions and high costs. The company expects sales to be between $4.6 billion and $4.8 billion. TEX reported revenues of $4.4 billion in 2022. Elevated volumes supported by strong customer demand and pricing actions are expected to offset cost pressures.
Terex continues to progress well on its “Execute, Innovate, Grow” strategy. Per the “Execute” theme, the company continues the progress made with its “Execute to Win” by intensifying process discipline and implementing several new operational processes, among other initiatives. Terex has managed to drive its SG&A expenses down to around 10.5% of sales. It has been investing in innovative products, digital innovation, expansion of manufacturing facilities and acquisitions, which will drive growth.
Earnings estimates for Terex have also been going up over the past month. The Zacks Consensus Estimate for 2023 bottom line has increased 13% and the same for 2024 has moved up 8%. The favorable estimate revisions instill investor confidence in the stock.
Other Key Picks
Some other top-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS sport a Zacks Rank of 1 at present, and DE has a Zacks Rank of 2.
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.57 per share. This indicates an 11.7% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 16% north in the past 60 days. OI’s shares gained 71.3% in the past year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $6.04 per share. This indicates a 39.5% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 17% in the past 60 days. Its shares gained 29.7% in the past year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. The consensus estimate for fiscal 2023 earnings has moved 6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 4.7%. Its shares have gained 15.9% in the past year.
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The world is increasingly focused on eliminating fossil fuels and ramping up use of renewable, clean energy sources. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries.
Our urgent special report reveals 4 hydrogen stocks primed for big gains - plus our other top clean energy stocks.
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O-I Glass, Inc. (OI) : Free Stock Analysis Report
Terex Corporation (TEX) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Image Source: Zacks Investment Research Driving Factors Terex delivered improvements in the bottom and the top lines in the fourth quarter of 2022, courtesy of strong demand and order growth. This is expected to be driven by solid demand, pricing and cost-saving actions which will negate the impact of the ongoing supply-chain disruptions and high costs. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries.
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Other Key Picks Some other top-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Terex Corporation (TEX) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Terex Corporation (TEX) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Image Source: Zacks Investment Research Driving Factors Terex delivered improvements in the bottom and the top lines in the fourth quarter of 2022, courtesy of strong demand and order growth.
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Image Source: Zacks Investment Research Driving Factors Terex delivered improvements in the bottom and the top lines in the fourth quarter of 2022, courtesy of strong demand and order growth. The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. This is expected to be driven by solid demand, pricing and cost-saving actions which will negate the impact of the ongoing supply-chain disruptions and high costs.
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720733.0
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2023-03-02 00:00:00 UTC
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Cintas (CTAS) Stock Holds Promise Despite Cost Headwinds
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Cintas Corporation CTAS is witnessing growth across all its segments. CTAS’ top line increased 10.4% and 13.7% year over year in fiscal 2022 and the first six months of fiscal 2023, respectively.
The Uniform Rental and Facility Services segment is benefiting from increased volumes and higher prices. Revenues from the unit rose 9.4% and 12% year over year in fiscal 2022 and the first six months of fiscal 2023, respectively. Strength across the first aid cabinet service business is boosting the First Aid and Safety Services segment’s performance. Revenues from the segment climbed 6.1% and 17.2% in fiscal 2022 and the first six months of fiscal 2023, respectively.
Cintas is also seeing strong growth across its uniform direct sale (33.9% organic growth in fiscal second quarter) and fire protection services (18% organic growth in fiscal second quarter) businesses.
Cintas Corporation Price and Consensus
Cintas Corporation price-consensus-chart | Cintas Corporation Quote
Cintas’ improved fiscal 2023 outlook raises optimism in the stock. The company now expects revenues of $8.67-$8.75 billion in fiscal 2023 compared with $8.58-$8.67 billion anticipated earlier. Earnings are estimated to be in the range of $12.50-$12.80 per share compared with $12.30 to $12.65 expected earlier. For fiscal 2023, Cintas expects adjusted operating income between $1.75 billion and $1.79 billion ($1.55 billion reported in fiscal 2022).
Cintas' focus on enhancement of its product portfolio, along with investments in technology and existing facilities, should continue to drive its performance. Also, its focus on operational execution, cost-control measures and pricing actions is helping it maintain healthy margin performance. For instance, in the fiscal second quarter, gross margin increased 100 basis points to 47%.
Cintas’ measures to consistently reward shareholders through dividends and share repurchases are encouraging. In the first six months of fiscal 2023, the company repurchased shares worth $348.68 million and paid dividends of $215.01 million. In fiscal 2022, the company repurchased shares worth $1.53 billion, up from $554.12 million in the year-ago period. Dividend payments totaled $375.12 million in fiscal 2022. Owing to strong performance in fiscal 2022, the company hiked its quarterly dividend by 21.1% to $1.15 per share in July 2022. Cintas has consistently raised its dividend for 39 straight years.
On the flip side, Cintas, carrying a Zacks Rank #3 (Hold), has lately been enduring labor shortages and the adverse impacts of high costs and expenses. In the first six months of fiscal 2023, its cost of sales (comprising costs related to uniform rental and facility services as well as others) increased 12.8% year over year to $2.29 billion. High energy expenses are pushing up costs. In fiscal 2022, cost of sales increased 11.1% year over year to $4.22 billion. High labor and purchasing costs drove expenses. Escalating costs and expenses, if not checked, might negatively impact its profitability in the quarters ahead.
Given its vast geographical spread, Cintas is exposed to currency translation risks. A stronger U.S. dollar might depress the company's overseas business results in the quarters ahead.
Stocks to Consider
Some better-ranked stocks within the broader Industrial Products sector are as follows:
Deere & Company DE currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Deere has an estimated earnings growth rate of 28.1% for the current fiscal year. The stock has gained 15.9% in the past six months.
Ingersoll Rand IR presently carries a Zacks Rank #2 (Buy). The company delivered a four-quarter earnings surprise of 8.5%, on average.
Ingersoll Rand has an estimated earnings growth rate of approximately 3% for the current year. The stock has rallied 21.6% in the past six months.
Parker-Hannifin Corporation PH presently carries a Zacks Rank #2. The company delivered a trailing four-quarter earnings surprise of 9.1%, on average.
Parker-Hannifin has an estimated earnings growth rate of 4.5% for the current fiscal year. The stock has gained 33.4% in the past six months.
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The world is increasingly focused on eliminating fossil fuels and ramping up use of renewable, clean energy sources. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries.
Our urgent special report reveals 4 hydrogen stocks primed for big gains - plus our other top clean energy stocks.
See Stocks Now
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Cintas Corporation (CTAS) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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On the flip side, Cintas, carrying a Zacks Rank #3 (Hold), has lately been enduring labor shortages and the adverse impacts of high costs and expenses. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries. Cintas’ measures to consistently reward shareholders through dividends and share repurchases are encouraging.
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Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Cintas Corporation (CTAS) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. Cintas’ measures to consistently reward shareholders through dividends and share repurchases are encouraging. In the first six months of fiscal 2023, the company repurchased shares worth $348.68 million and paid dividends of $215.01 million.
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Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Cintas Corporation (CTAS) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. Cintas’ measures to consistently reward shareholders through dividends and share repurchases are encouraging. In the first six months of fiscal 2023, the company repurchased shares worth $348.68 million and paid dividends of $215.01 million.
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Cintas’ measures to consistently reward shareholders through dividends and share repurchases are encouraging. In the first six months of fiscal 2023, the company repurchased shares worth $348.68 million and paid dividends of $215.01 million. Dividend payments totaled $375.12 million in fiscal 2022.
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9148ab3a-079f-44de-af99-12b0b88ead14
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720734.0
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2023-03-02 00:00:00 UTC
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Greif (GEF) Q1 Earnings Lag Estimates, Dip Y/Y on Low Demand
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Greif, Inc. GEF reported adjusted earnings per share of $1.06 for first-quarter fiscal 2023, missing the Zacks Consensus Estimate of $1.26. The bottom line decreased 17% year on year owing to lower volume and selling prices.
Including one-time items, EPS was $2.31 in the quarter compared with 25 cents in the prior-year quarter.
Greif, Inc. Price, Consensus and EPS Surprise
Greif, Inc. price-consensus-eps-surprise-chart | Greif, Inc. Quote
Operational Update
Sales were down 19% year over year to $1,271 million due to the lower volume of primary products sold, selling prices, product mix and the impact of changes in foreign currencies against the U.S. Dollar. The top line missed the Zacks Consensus Estimate of $1,284 million.
The cost of sales was down 20% year over year to $1,019 million. Gross profit amounted to $252 million, down 13% from the prior-year quarter’s levels. The gross margin came in at 19.8%, up from last year’s 18.5%.
Selling, general and administrative expenses came in at $139 million compared with the prior-year quarter’s $152 million. Adjusted EBITDA declined 16% year over year to $164.5 million in the fiscal first quarter.
Segmental Performance
Sales in the Global Industrial Packaging segment came in at $706 million compared with the prior-year quarter’s $949 million. The segment’s adjusted EBITDA amounted to $72 million compared with the year-ago quarter’s $114 million. The drop in the results of this segment was mainly due to unfavorable foreign currency translation and lower volumes and selling prices. Also, the sale of the Flexibles Products & Services business negatively impacted the top line of this segment.
The Paper Packaging segment's net sales dipped 8% year over year to $560 million in the fiscal first quarter as lower volumes offset the impact of higher published containerboard and boxboard prices. The segment’s adjusted EBITDA moved up 13% to $91 million from the prior-year quarter’s $81 million.
The Land Management segment’s sales totaled $5 million in the reported quarter compared with $5.2 million in the year-ago quarter. Adjusted EBITDA was $2 million compared with the year-earlier quarter’s $2.1 million.
Financial Position
Greif reported cash and cash equivalents of $161 million at the end of the fiscal first-quarter 2023 compared with $147 million at the end of fiscal 2022. Cash flow from operating activities totaled $33 million in the quarter under review compared with $22 million in the prior year quarter.
Long-term debt amounted to $2,144 million as of Jan 31, 2023, compared with $1,839 million as of Oct 31, 2021.
GEF has completed the previously announced acquisition of Lee Container Corporation. The integration is underway and the company expects to realize synergies of at least $6 million. The company also announced that it has entered into an agreement to increase its current stake of 9% in Centurion Container LLC, to 80% in an all-cash transaction for $145 million. Greif has been a joint venture partner of Centurion since 2020.
On Feb 28, Greif’s board announced a quarterly cash dividend of 50 cents per share of Class A Common Stock and 75 cents per share of Class B Common Stock. The dividend will be paid out on Apr 1, 2023, to shareholders of record at the close of business as of Mar 17, 2022.
Outlook
Considering the decline in product demand witnessed over the past two quarters and ongoing uncertainty in the macro-economic environment, Greif has provided only the low end of the guidance range for fiscal 2023. The projected low-end figure for adjusted EBITDA is at $740 million and for adjusted free cash flow is at $370 million.
Price Performance
Image Source: Zacks Investment Research
Greif’s shares have gained 29.9% in a year’s time against the industry’s 0.3% decline.
Zacks Rank & Stocks to Consider
Greif currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS sport a Zacks Rank #1 (Strong Buy) at present, and DE has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.57 per share. This indicates an 11.7% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 16% north in the past 60 days. OI’s shares gained 79.2% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $6.04 per share. This indicates a 39.5% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 17% in the past 60 days. Its shares gained 26.1% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 4.7%. Its shares gained 11.6% in the last year.
Is THIS the Ultimate New Clean Energy Source? (4 Ways to Profit)
The world is increasingly focused on eliminating fossil fuels and ramping up use of renewable, clean energy sources. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries.
Our urgent special report reveals 4 hydrogen stocks primed for big gains - plus our other top clean energy stocks.
See Stocks Now
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Greif, Inc. (GEF) : Free Stock Analysis Report
O-I Glass, Inc. (OI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Outlook Considering the decline in product demand witnessed over the past two quarters and ongoing uncertainty in the macro-economic environment, Greif has provided only the low end of the guidance range for fiscal 2023. The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries.
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Click to get this free report Greif, Inc. (GEF) : Free Stock Analysis Report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. The bottom line decreased 17% year on year owing to lower volume and selling prices. Adjusted EBITDA declined 16% year over year to $164.5 million in the fiscal first quarter.
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Click to get this free report Greif, Inc. (GEF) : Free Stock Analysis Report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. The bottom line decreased 17% year on year owing to lower volume and selling prices. Adjusted EBITDA declined 16% year over year to $164.5 million in the fiscal first quarter.
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Adjusted EBITDA declined 16% year over year to $164.5 million in the fiscal first quarter. The bottom line decreased 17% year on year owing to lower volume and selling prices. Cash flow from operating activities totaled $33 million in the quarter under review compared with $22 million in the prior year quarter.
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2023-03-02 00:00:00 UTC
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Donaldson (DCI) Q2 Earnings Beat Estimates, Revenues Rise Y/Y
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Donaldson Company, Inc.’s DCI second-quarter fiscal 2023 (ended Jan 31, 2023) earnings of 66 cents per share beat the Zacks Consensus Estimate by 8.7%. However, sales missed the same by 1.8%.
The bottom line improved 31.6% from the year-ago fiscal quarter’s 57 cents. The sales growth in the reported quarter was driven by accretive pricing.
Revenue Results
In the fiscal second quarter, Donaldson’s net sales reached $828.3 million, reflecting year-over-year growth of 3.2%. The top line missed the Zacks Consensus Estimate of $843 million.
Region-wise, DCI’s net sales in the United States/Canada increased 10.3% year over year. The top line expanded 4.3% in Europe, the Middle East and Africa and 14.1% in Latin America. However, the same decreased 16.4% in the Asia Pacific.
Donaldson started reporting revenues under three segments starting fiscal second-quarter of 2023. The segments are as follows: Mobile Solutions, Industrial Solutions and Life Sciences. A brief snapshot of the segmental sales is provided below:
Mobile Solutions’ (accounting for 63.1% of net sales in second-quarter fiscal 2023) sales were $522.5 million, reflecting year-over-year growth of 1.7%.
The results were positively impacted by 15.5% growth in Off-Road and 4.1% growth in On-Road. However, aftermarket sales declined 1.7% in the quarter.
Revenues generated from Industrial Solutions (accounting for 29.7% of net sales in second-quarter fiscal 2023) were $246.4 million, increasing 12.8% from the year-ago fiscal quarter.
The results benefited from sales growth of 10.7% in Industrial Filtration Solutions and 27.8% in Aerospace and Defense.
Revenues generated from Life Sciences (accounting for 7.2% of net sales in second-quarter fiscal 2023) were $59.4 million, decreasing 15.6% from the year-ago fiscal quarter.
Donaldson Company, Inc. Price, Consensus and EPS Surprise
Donaldson Company, Inc. price-consensus-eps-surprise-chart | Donaldson Company, Inc. Quote
Margin Profile
In the fiscal second quarter, Donaldson’s cost of sales decreased 1.6% year over year to $543.9 million. Gross profit jumped 13.9% to $284.4 million. Gross margin increased 320 basis points (bps) to 34.3%. The margin results benefited from favorable pricing, partially offset by higher input costs.
Operating expenses increased 9.1% year over year to $168.1 million. Operating profit in the quarter under review increased 21.6% to $116.3 million. The operating margin was 14%, increasing 210 basis points (bps) year over year.
The effective tax rate in the quarter was 24.1%, in line with the year-ago quarter.
Balance Sheet & Cash Flow
Exiting second-quarter fiscal 2023, Donaldson’s cash and cash equivalents were $179.4 million, down 7.2% from $193.3 million recorded in the last fiscal year’s comparable quarter. Long-term debt was down 3% year over year to $624.8 million.
In the first six months of fiscal 2023, Donaldson repaid its long-term debt of $65 million.
In the same time period, DCI generated net cash of $220.5 million from operating activities, reflecting an increase of 177% from the year-ago figure. Capital expenditure (net) totaled $57.6 million compared with $33.5 million in the year-ago fiscal period. Free cash flow increased 251.8% to $162.9 million.
DCI also used $115.2 million to repurchase shares and $56.2 million to pay out dividends during the first six months of fiscal 2023.
Outlook
For fiscal 2023 (ending July 2023), Donaldson expects earnings per share of $2.89-$2.97 per share compared with the $2.91-$3.07 per share predicted earlier. The company anticipates adjusted earnings of $2.99-$3.07 per share. The mid-point of the guided range — $3.03 — is higher than the Zacks Consensus Estimate of $3 per share. Sales are anticipated to increase 2-6% from the fiscal 2022 level compared with 1-5% predicted earlier. Positive pricing is anticipated to have an accretive impact of 6%. However, movement in foreign currencies is expected to negatively impact sales by 4%.
On a segmental basis, Mobile Solutions’ sales are anticipated to increase 1-5% from the fiscal 2022 level. The segment’s performance is likely to benefit from low-single-digit growth in the aftermarket. On-road and off-road sales are expected to be up in mid-single digits and high-single digits, respectively.
Sales growth for Industrial Solutions is anticipated to be 8-12% from the fiscal 2022 figure, compared with 1-5% predicted earlier. The segment is likely to gain from high-single-digit growth in Industrial Filtration Solutions and low-double digits growth in Aerospace and Defense.
The company expects its Life Sciences sales to decline between 5% and9% due to weakness in the Disk Drive market.
The adjusted operating margin is expected to be 14.6-15.0% for fiscal 2023, compared with 14.5-15.1% anticipated earlier. Interest expenses are predicted to be approximately $20 million compared with the $18 million expected earlier. The effective tax rate is anticipated to be 24-26% compared with the 25-27% predicted.
Capital expenditure for the fiscal year is expected to be $115-$130 million compared with $115-$135 million expected earlier. Free cash flow conversion is anticipated to be 110-120% compared with 110-125% expected earlier. Share buybacks are expected to account for 2% of the outstanding shares.
Zacks Rank & Other Stocks to Consider
DCI currently has a Zacks Rank #2 (Buy). Some other top-ranked companies from the Industrial Products sector are discussed below:
Deere & Company DE presently sports a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, Deere & Company’s earnings estimates have increased 6.4% for fiscal 2023 (ending October 2023). The stock has rallied 11.7% in the past six months.
Ingersoll Rand Inc. IR presently carries a Zacks Rank of 2. IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, Ingersoll Rand’s earnings estimates have increased 3.4% for 2023. The stock has gained 15.1% in the past six months.
Parker-Hannifin Corporation PH presently has a Zacks Rank of 2. PH’s earnings surprise in the last four quarters was 9.1%, on average.
In the past 60 days, Parker-Hannifin’s earnings estimates have increased 2% for fiscal 2023 (ending June 2023). The stock has rallied 18.8% in the past six months.
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Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
Donaldson Company, Inc. (DCI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Donaldson Company, Inc.’s DCI second-quarter fiscal 2023 (ended Jan 31, 2023) earnings of 66 cents per share beat the Zacks Consensus Estimate by 8.7%. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries. The top line expanded 4.3% in Europe, the Middle East and Africa and 14.1% in Latin America.
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Donaldson Company, Inc. Price, Consensus and EPS Surprise Donaldson Company, Inc. price-consensus-eps-surprise-chart | Donaldson Company, Inc. Quote Margin Profile In the fiscal second quarter, Donaldson’s cost of sales decreased 1.6% year over year to $543.9 million. Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report Donaldson Company, Inc. (DCI) : Free Stock Analysis Report To read this article on Zacks.com click here. Donaldson Company, Inc.’s DCI second-quarter fiscal 2023 (ended Jan 31, 2023) earnings of 66 cents per share beat the Zacks Consensus Estimate by 8.7%.
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Donaldson Company, Inc. Price, Consensus and EPS Surprise Donaldson Company, Inc. price-consensus-eps-surprise-chart | Donaldson Company, Inc. Quote Margin Profile In the fiscal second quarter, Donaldson’s cost of sales decreased 1.6% year over year to $543.9 million. Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report Donaldson Company, Inc. (DCI) : Free Stock Analysis Report To read this article on Zacks.com click here. Donaldson Company, Inc.’s DCI second-quarter fiscal 2023 (ended Jan 31, 2023) earnings of 66 cents per share beat the Zacks Consensus Estimate by 8.7%.
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Revenues generated from Life Sciences (accounting for 7.2% of net sales in second-quarter fiscal 2023) were $59.4 million, decreasing 15.6% from the year-ago fiscal quarter. Donaldson Company, Inc. Price, Consensus and EPS Surprise Donaldson Company, Inc. price-consensus-eps-surprise-chart | Donaldson Company, Inc. Quote Margin Profile In the fiscal second quarter, Donaldson’s cost of sales decreased 1.6% year over year to $543.9 million. Donaldson Company, Inc.’s DCI second-quarter fiscal 2023 (ended Jan 31, 2023) earnings of 66 cents per share beat the Zacks Consensus Estimate by 8.7%.
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720736.0
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2023-03-02 00:00:00 UTC
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Caterpillar workers to vote on tentative labor agreement - union
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https://www.nasdaq.com/articles/caterpillar-workers-to-vote-on-tentative-labor-agreement-union
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By Bianca Flowers
March 2 (Reuters) - Caterpillar Inc CAT.N workers are scheduled to vote on a tentative agreement with the construction and mining equipment maker on March 12, the United Auto Workers union told members on Thursday in a notice seen by Reuters.
The company said on Wednesday it had reached a six-year agreement with UAW members, warding off a strike at three central Illinois manufacturing facilities and a parts and distribution center in York, Pennsylvania.
Caterpillar outlined guaranteed wage increases and changes to parental leave and retirement benefits in the agreement, pending a ratification vote by employees.
The current agreement, which had been temporarily extended, lapsed at midnight on March 1.
Under the new contract, employees would receive a $6,000 bonus upon ratification. The company also detailed 27% combined wage increases and lump sums over the six-year period, and a bump in employer contributions to retirement plans.
Healthcare premiums were left unchanged. Workers have said the deal does not make up for years of wage freezes that have been absorbed by higher healthcare costs.
"What is already known about the terms of the UAW-Caterpillar deal indicates that it is another slap in the face and deserving of an overwhelming rejection," a committee of Caterpillar union workers said in a statement.
Caterpillar, which has been struggling with margin pressures as input costs keep rising, has more than 100,000 employees around the world. The contract covers about 7,000 employees.
The Irving, Texas-based company detailed a contingency plan on its website, saying it would operate facilities with management and contract workers if full-time employees were to strike. Manufacturing employers face a tight labor market, and workers at Caterpillar rivals Deere & Co DE.N and CNH Industrial NV CNHI.MI have gone on strike in recent years.
"I'm sure CAT wants to avoid any extended strike similar to what (Deere) went through," said Mark Grywacheski, a partner at Quad Cities Investment Group, LLC.
(Reporting by Bianca Flowers; Editing by Richard Chang)
((Bianca.Flowers@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Manufacturing employers face a tight labor market, and workers at Caterpillar rivals Deere & Co DE.N and CNH Industrial NV CNHI.MI have gone on strike in recent years. The current agreement, which had been temporarily extended, lapsed at midnight on March 1. Under the new contract, employees would receive a $6,000 bonus upon ratification.
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"What is already known about the terms of the UAW-Caterpillar deal indicates that it is another slap in the face and deserving of an overwhelming rejection," a committee of Caterpillar union workers said in a statement. Manufacturing employers face a tight labor market, and workers at Caterpillar rivals Deere & Co DE.N and CNH Industrial NV CNHI.MI have gone on strike in recent years. The current agreement, which had been temporarily extended, lapsed at midnight on March 1.
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The Irving, Texas-based company detailed a contingency plan on its website, saying it would operate facilities with management and contract workers if full-time employees were to strike. The current agreement, which had been temporarily extended, lapsed at midnight on March 1. Under the new contract, employees would receive a $6,000 bonus upon ratification.
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Under the new contract, employees would receive a $6,000 bonus upon ratification. The Irving, Texas-based company detailed a contingency plan on its website, saying it would operate facilities with management and contract workers if full-time employees were to strike. The current agreement, which had been temporarily extended, lapsed at midnight on March 1.
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ba909cd3-2698-4aa7-af47-18dd3142d8f0
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720737.0
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2023-03-02 00:00:00 UTC
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7 Boring Stocks to Buy That Can Take You to the Finish Line
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https://www.nasdaq.com/articles/7-boring-stocks-to-buy-that-can-take-you-to-the-finish-line
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Although retail investors may be tempted to pick up last year’s hottest trends that seemingly trade now at discount prices, they may be better off considering boring stocks to buy. Fundamentally, we just don’t know what may lie ahead. With geopolitical flashpoints and ongoing pandemic recovery efforts, a conservative approach to the equities space may yield surprising gains.
Further, investors must also recognize harsh realities. Recently, the major indices have not performed well, stemming from the latest read of the Personal Consumption Expenditures (PCE) index. With inflation coming in hotter than expected, the Federal Reserve may raise benchmark interest rates to combat stubbornly high prices. If so, you don’t want exclusive exposure to risk-on names. Rather, these boring stocks to buy may see you through some rough waters.
DE Deere $422.32
SRE Sempra Energy $147.43
DG Dollar General $214.86
CAG Conagra $35.79
PSA Public Storage $296.76
KR Kroger $44.99
PFGC Performance Food Group $57.60
Deere (DE)
Source: Jim Lambert / Shutterstock.com
Since the dawn of the computer age, agricultural equipment manufacturer Deere (NYSE:DE) must have realized that eventually, the jig would be up. Nowadays, the word agriculture doesn’t even enter most folks’ minds when it comes to job opportunities. However, that’s what makes DE a perfect candidate for boring stocks to buy. Underneath the surface, it’s actually quite the innovator.
Understandably, investor interest nowadays centers on artificial intelligence and machine learning: AI this, ML that. Got it. However, Deere put this technology to the test with its automated smart tractors. Not only should this innovation improve productivity, it also indirectly addresses the other point: few people in the modern age want to work in agriculture.
Another benefit to being one of the boring stocks to buy is a tendency toward fiscal resilience. Against the trailing year, Deere’s operational stats make competitors envious. It features a three-year revenue growth rate of 11.7% and a net margin of 14.9%, both stats above sector averages. Finally, Wall Street analysts peg DE as a consensus moderate buy. Further, their average price target stands at $473.53, implying nearly 13% upside potential.
Sempra Energy (SRE)
Source: Michael Vi / Shutterstock.com
As a utility giant, Sempra Energy (NYSE:SRE) symbolizes a natural choice for boring stocks to buy. However, it also might be one of the most despised. Because it’s a utility, it enjoys a natural monopoly. Now, shareholders like natural monopolies since it means few enterprises can legitimately compete with the underlying entity. However, the customers obviously feel differently.
Nevertheless, SRE should make for an intriguing investment despite any objections. On balance, Sempra’s dominance of the Southern California region makes it a true power player. Yes, many people may be leaving the Golden State. Still, it represents the biggest economic engine of the U.S. so Sempra’s relevance is largely assured. If you have lingering doubts, note that Sempra carries a forward yield of 3.09%. While it’s a bit lower than the utility sector’s average yield of 3.7%, the payout ratio sits at 47.73%. Therefore, the yield should be sustainable.
Turning to Wall Street, analysts peg SRE as a consensus moderate buy. Also, their average price target stands at $170.56, implying over 15% upside potential.
Dollar General (DG)
Source: Epic Cure / Shutterstock
It might be an obvious play for boring stocks to buy. However, that doesn’t mean Dollar General (NYSE:DG) loses its potential for viability. As stated earlier, inflation remains stubbornly high. Naturally, elevated prices will challenge middle-income households. From an immediacy angle, then, DG deserves to be on your radar.
Looking further down the line, it’s very possible that the Fed may hike the benchmark interest rate. In turn, this dynamic may slow economic activity due to rising borrowing costs. While this might address inflation, it could create another problem: more mass layoffs. For Dollar General, the net result ends up the same: more relevancy, more demand.
According to Gurufocus.com’s analysis of Dollar General’s discounted cash flow (DCF), DG stock’s fair value stands at $273.35. Compared to the time-of-writing price of $213.79, that’s quite a bargain. Looking to the Street, analysts peg DG as a consensus moderate buy. Their average price target stands at $248.50, implying over 16% upside potential.
Conagra Brands (CAG)
Source: Jonathan Weiss / Shutterstock.com
Headquartered in Chicago, Illinois, Conagra Brands (NYSE:CAG) is a packaged goods firm. Specifically, it makes and sells products under various brand names available in supermarkets, restaurants, and food service establishments. Although seemingly relevant, CAG stock gave up 8% of equity value since the start of the year.
Still, this might be a temporary decline. In the trailing year, CAG gained over 3%. More importantly, global food supply chain concerns may crimp the inventory of critical commodities. In turn, demand (prices) may rise significantly, which may cynically lift CAG.
To be fair, Conagra’s financials themselves don’t seem particularly remarkable but they’re not terrible either. For bullish investors, they’ll want to consider CAG’s valuation proposal. Currently, the market prices shares at a forward multiple of 12.54. As a discount to earnings, Conagra ranks better than 65.78% of the competition.
Lastly, Wall Street analysts peg CAG as a consensus moderate buy. Their average price target stands at $41.60, implying over 16% upside potential. Thus, it’s worth considering as one of the top boring stocks to buy.
Public Storage (PSA)
Source: shutterstock.com/CC7
Unless you’re a big fan of the TV show “Storage Wars,” Public Storage (NYSE:PSA) might come off as one of the very boring stocks to buy. However, it could turn out to be surprisingly relevant. For instance, with many people priced out of owning real estate, they may need storage in a bid to rent smaller residential units to save money.
Even more distressing, some people might need to downsize their homes out of force. For such a situation, Public Storage can help mitigate challenges. To be sure, PSA presents a decent performer so far this year, gaining nearly 8% of equity value.
Notably, Public Storage’s price-earnings-growth (PEG) ratio sits at 0.72 times. In contrast, the sector median PEG is 2.04 times. Moreover, the enterprise enjoys strong operational stats. For example, its three-year revenue growth rate of 13.2% outpaces over 86% of the competition. Finally, Wall Street analysts peg PSA as a consensus moderate buy. Further, their average price target stands at $348, implying nearly 18% upside potential. Thus, it makes for a solid case for boring stocks to buy.
Kroger (KR)
Source: Eric Glenn / Shutterstock.com
In many ways, the case for Kroger (NYSE:KR) as one of the boring stocks to buy sells itself. You only need to go back a few years. During the initial onset of the coronavirus pandemic, Kroger and similar grocery store outlets became the place for essentials (after scouring hardware stores for N95 masks). Now, economic downturns don’t promote such intensity of emotions. But the demand should still be there.
Put another way, Kroger benefits from the trade-down effect. With consumers feeling the pressure, they’ll need to trade down their expectations. Gone will be eating out at restaurants. In its place will stand cooking meals at home. That should boost KR stock. Another factor benefitting Kroger is its value proposition. Presently, the market prices KR at a forward multiple of 10.31. As a discount to earnings, the company ranks better than 84.75% of the competition. Lastly, covering analysts peg KR as a consensus moderate buy. Their average price target stands at $51.86, implying nearly 20% upside potential.
Performance Food Group (PFGC)
Source: ImageFlow/Shutterstock.com
A food enterprise that has its roots in the late 19th century, Performance Food Group (NYSE:PFGC) distributes a range of food products. It has three divisions, each catering to specific market segments. Conspicuously, it’s truly one of the boring stocks to buy. Since the January opener, PFGC gained less than 1%. In the trailing year, it’s down less than half a percent.
According to Gurufocus.com, PFGC represents a fairly valued investment. To be blunt, on an objective basis, it appears a bit overvalued. Nevertheless, it offers strong growth metrics. For instance, its three-year revenue growth rate stands at 21.5%, beating out over 93% of its rivals. Its book growth rate during the same period pings at 19.8%, above 88% of the industry.
However, it’s the analyst view that has people talking. Currently, PFGC features a strong buy consensus view. Indeed, out of 12 analysts, only one has a hold assessment, meaning it was close to a unanimous strong buy. Further, the experts’ average price target stands at $73.36, implying over 28% upside potential.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
The post 7 Boring Stocks to Buy That Can Take You to the Finish Line appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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With inflation coming in hotter than expected, the Federal Reserve may raise benchmark interest rates to combat stubbornly high prices. For instance, with many people priced out of owning real estate, they may need storage in a bid to rent smaller residential units to save money. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Although retail investors may be tempted to pick up last year’s hottest trends that seemingly trade now at discount prices, they may be better off considering boring stocks to buy.
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DE Deere $422.32 SRE Sempra Energy $147.43 DG Dollar General $214.86 CAG Conagra $35.79 PSA Public Storage $296.76 KR Kroger $44.99 PFGC Performance Food Group $57.60 Deere (DE) Source: Jim Lambert / Shutterstock.com Since the dawn of the computer age, agricultural equipment manufacturer Deere (NYSE:DE) must have realized that eventually, the jig would be up. Finally, Wall Street analysts peg DE as a consensus moderate buy. Lastly, Wall Street analysts peg CAG as a consensus moderate buy.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Although retail investors may be tempted to pick up last year’s hottest trends that seemingly trade now at discount prices, they may be better off considering boring stocks to buy. DE Deere $422.32 SRE Sempra Energy $147.43 DG Dollar General $214.86 CAG Conagra $35.79 PSA Public Storage $296.76 KR Kroger $44.99 PFGC Performance Food Group $57.60 Deere (DE) Source: Jim Lambert / Shutterstock.com Since the dawn of the computer age, agricultural equipment manufacturer Deere (NYSE:DE) must have realized that eventually, the jig would be up. With geopolitical flashpoints and ongoing pandemic recovery efforts, a conservative approach to the equities space may yield surprising gains.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Although retail investors may be tempted to pick up last year’s hottest trends that seemingly trade now at discount prices, they may be better off considering boring stocks to buy. With geopolitical flashpoints and ongoing pandemic recovery efforts, a conservative approach to the equities space may yield surprising gains. Recently, the major indices have not performed well, stemming from the latest read of the Personal Consumption Expenditures (PCE) index.
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0d3101e8-09b1-4574-be54-af129a7322c3
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720738.0
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2023-03-01 00:00:00 UTC
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Manitowoc (MTW) Stock Hits 52-Week High: What's Driving It?
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https://www.nasdaq.com/articles/manitowoc-mtw-stock-hits-52-week-high%3A-whats-driving-it
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Shares of The Manitowoc Company, Inc. MTW scaled a new 52-week high of $19.18 on Feb 28, before closing the session a tad lower at $18.91.
MTW has a market capitalization of around $639.3 million and a Zacks Rank #1 (Strong Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past year, Manitowoc’s shares have gained 20.3% compared to the industry’s growth of 30.7%.
Image Source: Zacks Investment Research
Driving Factors
Manitowoc delivered improvement in both bottom line and top line in 2022 aided by strong order and backlog levels. Backlog at the end of 2022 was $1,056 million, up 4.5% from the 2021-end levels. In the fourth quarter of 2022, orders increased 15.1% year over year to $708 million.
In North America, demand from residential and non-residential construction is driving demand for Manitowoc’s equipment. Due to the U.S. Infrastructure Investment and Jobs Act, the rising investment in roads, bridges, airports and waterways represents a massive opportunity. The company expects demand in the Middle East to be robust in the upcoming quarters. Qatar and Kuwait are also showing promising signs of growth. This bodes well for Manitowoc.
Moreover, the company’s focus on innovation will continue to aid it in leading the industry by providing differentiated products that add value to customers. The company has been taking actions to align production with changing levels of demand. Operational focus, healthy balance sheet and market leading products position it well to capitalize as end markets recover.
Despite the persisting supply chain challenges, inflationary costs and skilled labor shortages, Manitowoc could negate the impacts with its pricing actions and efforts to cut down costs.
Backed by these tailwinds, Manitowoc reported net sales of $2.03 billion in 2022. The top-line figure marked a 18.2% increase year over year. The company delivered adjusted earnings per share of $1.06 in 2022 compared with 86 cents reported in the prior year.
Earnings estimates for Manitowoc have also been going up over the past two months. The Zacks Consensus Estimate for 2023 bottom line has increased around 54.9% and the same for 2024 has moved up 46%. The favorable estimate revisions instill investor confidence in the stock.
Other Stocks to Consider
Some other top-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS flaunt a Zacks Rank #1 at present, and DE has a Zacks Rank #2 (Buy).
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.57 per share. This indicates a 11.7% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 16% north in the past 60 days. OI’s shares gained 71.3% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $6.04 per share. This indicates a 39.5% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 17% in the past 60 days. Its shares gained 29.7% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 4.7%. Its shares gained 15.9% in the last year.
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The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report
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Deere & Company (DE) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Image Source: Zacks Investment Research Driving Factors Manitowoc delivered improvement in both bottom line and top line in 2022 aided by strong order and backlog levels. In the fourth quarter of 2022, orders increased 15.1% year over year to $708 million.
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Image Source: Zacks Investment Research Driving Factors Manitowoc delivered improvement in both bottom line and top line in 2022 aided by strong order and backlog levels. Other Stocks to Consider Some other top-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. Click to get this free report The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Click to get this free report The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Image Source: Zacks Investment Research Driving Factors Manitowoc delivered improvement in both bottom line and top line in 2022 aided by strong order and backlog levels.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Image Source: Zacks Investment Research Driving Factors Manitowoc delivered improvement in both bottom line and top line in 2022 aided by strong order and backlog levels. In the fourth quarter of 2022, orders increased 15.1% year over year to $708 million.
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2023-03-01 00:00:00 UTC
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Validea Guru Fundamental Report for DE - 3/1/2023
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https://www.nasdaq.com/articles/validea-guru-fundamental-report-for-de-3-1-2023
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Below is Validea's guru fundamental report for DEERE & COMPANY (DE). Of the 22 guru strategies we follow, DE rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental momentum and price momentum.
DEERE & COMPANY (DE) is a large-cap growth stock in the Constr. & Agric. Machinery industry. The rating using this strategy is 94% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
FUNDAMENTAL MOMENTUM: PASS
TWELVE MINUS ONE MOMENTUM: PASS
FINAL RANK: PASS
Detailed Analysis of DEERE & COMPANY
DE Guru Analysis
DE Fundamental Analysis
More Information on Dashan Huang
Dashan Huang Portfolio
About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. His paper "Twin Momentum" looked at combining traditional price momentum with improving fundamentals to generate market outperformance. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure. He showed that stocks in the top 20% of the universe according to that measure outperformed the market going forward. When he combined that measure with price momentum, he was able to double its outperformance.
Additional Research Links
Factor-Based Stock Portfolios
Factor-Based ETF Portfolios
Harry Browne Permanent Portfolio
Ray Dalio All Weather Portfolio
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The rating using this strategy is 94% based on the firm’s underlying fundamentals and the stock’s valuation. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. Below is Validea's guru fundamental report for DEERE & COMPANY (DE).
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Of the 22 guru strategies we follow, DE rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis More Information on Dashan Huang Dashan Huang Portfolio About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure.
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Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis More Information on Dashan Huang Dashan Huang Portfolio About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure. Additional Research Links Factor-Based Stock Portfolios Factor-Based ETF Portfolios Harry Browne Permanent Portfolio Ray Dalio All Weather Portfolio About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends.
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Of the 22 guru strategies we follow, DE rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental momentum and price momentum. Below is Validea's guru fundamental report for DEERE & COMPANY (DE).
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bd760537-2989-4954-8ca6-04a9642cf120
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720740.0
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2023-03-01 00:00:00 UTC
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Here's Why It is Worth Investing in A. O. Smith (AOS) Stock
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https://www.nasdaq.com/articles/heres-why-it-is-worth-investing-in-a.-o.-smith-aos-stock
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A. O. Smith Corporation AOS is well-poised for growth, courtesy of strength across its segments, acquisitions and a sound capital deployment strategy.
The current Zacks Rank #2 (Buy) player has a market capitalization of $9.9 billion. In the past six months, the stock has gained 16.6% compared with the industry’s 11.5% rise.
Let’s delve into the factors that make AOS a smart investment choice at the moment.
Business Strength: A. O. Smith’s North America Segment is gaining from the demand for commercial and residential boilers, and water treatment products. Price increases are also aiding the segment. Strong demand for water heating and water treating products is supporting sales from India within the Rest of the World segment.
Image Source: Zacks Investment Research
Acquisition Benefits: AOS intends to strengthen and expand its businesses through acquisitions. Its Atlantic Filter acquisition in June 2022 boosted its position in the water treatment industry and strengthened its customer base in Florida and the adjacent regions. The Canada-based Giant Factories, Inc. buyout in October 2021 expanded the company’s commercial and water heater offerings. In fourth-quarter 2022, the Giant Factories acquisition added $94 million to the company’s North American sales.
Rewards to Shareholders: The company’s measures to reward its shareholders through dividend payments and share buybacks are noteworthy. In 2022, A. O. Smith paid out dividends worth $177.2 million (up 4.2% year over year) and repurchased 6.6 million shares for $403.5 million (up 10.1% year over year). In October 2022, the company hiked its quarterly dividend rate by 7% to 30 cents per share.
Northbound Estimate Revisions: In the past 60 days, the Zacks Consensus Estimate for fiscal 2023 (ending June 2023) earnings has been revised 4.1% upward.
Other Stocks to Consider
Some other top-ranked companies from the Industrial Products sector are discussed below:
Deere & Company DE presently sports a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, Deere & Company’s earnings estimates have increased 6.4% for fiscal 2023. The stock has rallied 15.7% in the past six months.
Ingersoll Rand Inc. IR presently carries a Zacks Rank of 2. IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, Ingersoll Rand’s earnings estimates have increased 3.4% for 2023. The stock has gained 21.6% in the past six months.
Parker-Hannifin Corporation PH presently has a Zacks Rank of 2. PH’s earnings surprise in the last four quarters was 9.1%, on average.
In the past 60 days, Parker-Hannifin’s earnings estimates have increased 1.3% for fiscal 2023. The stock has rallied 32.9% in the past six months.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
A. O. Smith Corporation (AOS) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A. O. Smith Corporation AOS is well-poised for growth, courtesy of strength across its segments, acquisitions and a sound capital deployment strategy. Business Strength: A. O. Smith’s North America Segment is gaining from the demand for commercial and residential boilers, and water treatment products. Let’s delve into the factors that make AOS a smart investment choice at the moment.
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Deere & Company DE presently sports a Zacks Rank #1 (Strong Buy). In the past 60 days, Deere & Company’s earnings estimates have increased 6.4% for fiscal 2023. Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. A. O. Smith Corporation AOS is well-poised for growth, courtesy of strength across its segments, acquisitions and a sound capital deployment strategy. Let’s delve into the factors that make AOS a smart investment choice at the moment.
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A. O. Smith Corporation AOS is well-poised for growth, courtesy of strength across its segments, acquisitions and a sound capital deployment strategy. Let’s delve into the factors that make AOS a smart investment choice at the moment. Business Strength: A. O. Smith’s North America Segment is gaining from the demand for commercial and residential boilers, and water treatment products.
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20a63051-b07b-4757-86f9-568e842ad296
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720741.0
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2023-03-01 00:00:00 UTC
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3M (MMM) Gets Mired in Headwinds, Stock Down 27% in 6 Months
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https://www.nasdaq.com/articles/3m-mmm-gets-mired-in-headwinds-stock-down-27-in-6-months
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3M Company MMM is plagued by persistent weakness in the Safety and Industrial segment, inflationary pressure, supply-chain disruptions and forex woes. Due to these headwinds, shares of the company have declined 26.9% in the past six months compared with the industry’s decrease of 10.9%.
Image Source: Zacks Investment Research
Let’s delve deeper to unearth the factors that are weighing on the stock’s performance.
3M’s Safety and Industrial segment is experiencing weakness due to softness in disposable respirator demand. In the fourth quarter, lower disposable respirator demand hurt organic sales by $165 million. For 2023, the company expects an impact of $450-$550 million from this headwind. Organic sales are expected to decline in the low-single digits for the segment in 2023.
The Transportation & Electronics unit is experiencing weakness due to a decline in consumer electronics demand, particularly for smartphones, tablets and TVs. This can be attributed to reduced consumer spending due to continued inflationary pressure. Reduced consumer spending is also hurting the Healthcare and Consumer segments’ performances. Weakness in the medical solutions business is weighing on the Healthcare segment’s performance.
For 2023, the company expects healthcare segment organic sales to increase in the low to mid-single digits from the year-ago period. Organic sales in the Consumer segment are predicted to decline in the low-single digits in 2023.
Raw material and logistics cost inflation as well as supply-chain disruptions, including labor shortages, are affecting 3M’s bottom-line performance. The slowdown in China due to coronavirus-induced disruptions and moderating demand across industrial end markets have also weighed on the company’s shares.
Given significant international operations, foreign currency headwinds have also been a drag on MMM’s price performance. The strengthening of the U.S. dollar hurt the company’s sales by 5% in the fourth quarter. For 2023, the company expects foreign currency translation to hurt adjusted sales by 1-2%. Also, divestitures are expected to impact adjusted sales by 1%.
Amid multiple headwinds, 3M has provided a bearish outlook for 2023. For 2023, the company expects adjusted sales to decrease 2-6% year over year due to a decline in disposable respirator demand and adverse foreign currency movements. The company anticipates organic sales to either decline to 3% or remain flat year over year due to an estimated two percentage point negative impact from the disposable respirator decline and the cessation of its operations in Russia.
3M anticipates adjusted earnings of $8.50-$9.00 for 2023 ($9.88 was reported in 2022). The guidance includes a negative impact of 55-80 cents from the decline in disposable respirator demand, the exit of Russia operations, foreign currency translation and divestitures.
Zacks Rank & Key Picks
3M presently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks worth considering are as follows:
Deere & Company DE currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Deere has an estimated earnings growth rate of 28.1% for the current fiscal year. The stock has gained 15.7% in the past six months.
Ingersoll Rand IR presently carries a Zacks Rank #2 (Buy). The company delivered a four-quarter earnings surprise of 8.5%, on average.
Ingersoll Rand has an estimated earnings growth rate of approximately 3% for the current year. The stock has rallied 21.6% in the past six months.
Parker-Hannifin Corporation PH presently carries a Zacks Rank #2. The company delivered a trailing four-quarter earnings surprise of 9.1%, on average.
Parker-Hannifin has an estimated earnings growth rate of 3.7% for the current fiscal year. The stock has gained 32.8% in the past six months.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
3M Company (MMM) : Free Stock Analysis Report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The guidance includes a negative impact of 55-80 cents from the decline in disposable respirator demand, the exit of Russia operations, foreign currency translation and divestitures. Due to these headwinds, shares of the company have declined 26.9% in the past six months compared with the industry’s decrease of 10.9%. Let’s delve deeper to unearth the factors that are weighing on the stock’s performance.
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In the fourth quarter, lower disposable respirator demand hurt organic sales by $165 million. For 2023, the company expects adjusted sales to decrease 2-6% year over year due to a decline in disposable respirator demand and adverse foreign currency movements. Click to get this free report 3M Company (MMM) : Free Stock Analysis Report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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For 2023, the company expects adjusted sales to decrease 2-6% year over year due to a decline in disposable respirator demand and adverse foreign currency movements. The company anticipates organic sales to either decline to 3% or remain flat year over year due to an estimated two percentage point negative impact from the disposable respirator decline and the cessation of its operations in Russia. Click to get this free report 3M Company (MMM) : Free Stock Analysis Report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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For 2023, the company expects adjusted sales to decrease 2-6% year over year due to a decline in disposable respirator demand and adverse foreign currency movements. Due to these headwinds, shares of the company have declined 26.9% in the past six months compared with the industry’s decrease of 10.9%. Let’s delve deeper to unearth the factors that are weighing on the stock’s performance.
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fb7542bf-d297-424c-aca4-712f79239267
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720742.0
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2023-03-01 00:00:00 UTC
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Caterpillar workers reach deal with union, averting possible strike
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https://www.nasdaq.com/articles/caterpillar-workers-reach-deal-with-union-averting-possible-strike
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Adds details from union statement, background
March 1 (Reuters) - A union representing workers at four Caterpillar Inc CAT.N facilities said on Wednesday it reached a tentative agreement with the world's largest construction equipment maker over wage increases and other issues, possibly averting a strike.
Union workers had threatened to strike for wage increases, improved safety measures and better healthcare benefits once a six-year labor contract expired.
The union said on Wednesday its bargaining team had reached the tentative agreement before the contract ended on March 1.
"Members at four locals in Illinois and Pennsylvania will review the tentative agreement and vote at upcoming ratification meetings," the United Auto Workers (UAW) said in a statement, without giving any other details.
Caterpillar did not respond to a request for comment.
The contract, which covers roughly 7,000 union employees represented by UAW at three manufacturing plants in central Illinois and a parts and distribution center in York, Pennsylvania, expired on Wednesday.
A short supply of labor amid a robust demand environment has raised costs for heavy machinery companies like Caterpillar and rival Deere & Co DE.N and has given unions bargaining power to negotiate better contracts.
In January, union workers at the four Caterpillar facilities voted almost unanimously to authorize a strike, according to one local union's Facebook page.
Contract negotiations between the UAW and the Irving, Texas-based manufacturer began on Jan. 5, the company said on its website.
CAT has more than 100,000 employees worldwide. In 2021, Caterpillar workers at two plants in Northern Ireland went on strike for 14 months before reaching an agreement. The last strike at the company in the U.S. was in May 2012.
(Reporting by Aishwarya Nair and Maria Ponnezhath in Bengaluru; Editing by Sonia Cheema and Nivedita Bhattacharjee)
((Aishwarya.Nair@thomsonreuters.com; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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"Members at four locals in Illinois and Pennsylvania will review the tentative agreement and vote at upcoming ratification meetings," the United Auto Workers (UAW) said in a statement, without giving any other details. A short supply of labor amid a robust demand environment has raised costs for heavy machinery companies like Caterpillar and rival Deere & Co DE.N and has given unions bargaining power to negotiate better contracts. Adds details from union statement, background March 1 (Reuters) - A union representing workers at four Caterpillar Inc CAT.N facilities said on Wednesday it reached a tentative agreement with the world's largest construction equipment maker over wage increases and other issues, possibly averting a strike.
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Adds details from union statement, background March 1 (Reuters) - A union representing workers at four Caterpillar Inc CAT.N facilities said on Wednesday it reached a tentative agreement with the world's largest construction equipment maker over wage increases and other issues, possibly averting a strike. The union said on Wednesday its bargaining team had reached the tentative agreement before the contract ended on March 1. "Members at four locals in Illinois and Pennsylvania will review the tentative agreement and vote at upcoming ratification meetings," the United Auto Workers (UAW) said in a statement, without giving any other details.
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Adds details from union statement, background March 1 (Reuters) - A union representing workers at four Caterpillar Inc CAT.N facilities said on Wednesday it reached a tentative agreement with the world's largest construction equipment maker over wage increases and other issues, possibly averting a strike. The union said on Wednesday its bargaining team had reached the tentative agreement before the contract ended on March 1. "Members at four locals in Illinois and Pennsylvania will review the tentative agreement and vote at upcoming ratification meetings," the United Auto Workers (UAW) said in a statement, without giving any other details.
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Adds details from union statement, background March 1 (Reuters) - A union representing workers at four Caterpillar Inc CAT.N facilities said on Wednesday it reached a tentative agreement with the world's largest construction equipment maker over wage increases and other issues, possibly averting a strike. "Members at four locals in Illinois and Pennsylvania will review the tentative agreement and vote at upcoming ratification meetings," the United Auto Workers (UAW) said in a statement, without giving any other details. The union said on Wednesday its bargaining team had reached the tentative agreement before the contract ended on March 1.
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282d63f7-df78-4d1b-99f8-3f0c37f1533a
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720743.0
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2023-03-01 00:00:00 UTC
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Flowserve (FLS) Gains From Solid End Markets Despite Cost Woes
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https://www.nasdaq.com/articles/flowserve-fls-gains-from-solid-end-markets-despite-cost-woes
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Flowserve Corporation FLS is gaining from strength across its oil & gas, chemical, power, general Industries and water end markets. Core market growth and Diversify, Decarbonize and Digitize (3D) strategy are driving the company’s bookings. Also, its realignment activities are helping it capture more margin enhancement opportunities with efficient cost management and higher productivity. For 2023, the company expects bookings of $2.7 billion driven by supportive end markets. Revenues are anticipated to increase in the range of 9-11% from the prior-year reported figure.
In February 2023, Flowserve inked a deal to acquire Velan Inc. in an all-cash transaction valued at approximately $245 million. The buyout will strengthen FLS’ valves portfolio and build upon its existing assets through the addition of Velan’s premier brands, strong heritage and technical expertise in diverse end markets. Velan will become part of Flowserve’s Flow Control Division (FCD) segment. The deal is expected to be completed by the end of the second quarter of 2023.
Flowserve utilizes its cash flow to reward its shareholders by distributing dividends. The company paid out dividends worth $104.5 million to its shareholders in 2022.
However, FLS has been witnessing supply-chain challenges and logistics problems. Flowserve’s cost of sales increased 5.1% and selling, general and administrative expenses rose 2.3%, year over year in 2022. A potential recessionary environment is expected to weaken its GDP-driven markets, including chemicals and general industries.
Foreign exchange is an added headwind for FLS, given its widespread presence in the international markets. A stronger U.S. dollar might dampen the company's overseas business results in the quarters ahead.
Image Source: Zacks Investment Research
In the past year, this current Zacks Rank #3 (Hold) stock has increased 9.1% compared with the industry’s 5.1% rise.
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
Deere & Company DE presently has a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, Deere & Company’s earnings estimates have increased 6.4% for fiscal 2023. The stock has rallied 16.9% in the past year.
Ingersoll Rand Inc. IR presently carries a Zacks Rank #2 (Buy). IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, Ingersoll Rand’s earnings estimates have increased 3.4% for 2023. The stock has gained 17.9% in the past year.
Parker-Hannifin Corporation PH presently has a Zacks Rank of 2. PH’s earnings surprise in the last four quarters was 9.1%, on average.
In the past 60 days, Parker-Hannifin’s earnings estimates have increased 1.3% for fiscal 2023. The stock has rallied 22.4% in the past year.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Flowserve Corporation (FLS) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Core market growth and Diversify, Decarbonize and Digitize (3D) strategy are driving the company’s bookings. In February 2023, Flowserve inked a deal to acquire Velan Inc. in an all-cash transaction valued at approximately $245 million. The deal is expected to be completed by the end of the second quarter of 2023.
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Deere & Company DE presently has a Zacks Rank #1 (Strong Buy). In the past 60 days, Deere & Company’s earnings estimates have increased 6.4% for fiscal 2023. Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Flowserve Corporation (FLS) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Flowserve Corporation (FLS) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report To read this article on Zacks.com click here. Core market growth and Diversify, Decarbonize and Digitize (3D) strategy are driving the company’s bookings. In February 2023, Flowserve inked a deal to acquire Velan Inc. in an all-cash transaction valued at approximately $245 million.
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Core market growth and Diversify, Decarbonize and Digitize (3D) strategy are driving the company’s bookings. In February 2023, Flowserve inked a deal to acquire Velan Inc. in an all-cash transaction valued at approximately $245 million. The deal is expected to be completed by the end of the second quarter of 2023.
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051e2af8-3216-4a9d-8a45-c223796b0447
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720744.0
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2023-02-28 00:00:00 UTC
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Here's Why Carlisle (CSL) Stock is Up More Than 11% in a Year
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https://www.nasdaq.com/articles/heres-why-carlisle-csl-stock-is-up-more-than-11-in-a-year
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Carlisle Companies Incorporated CSL shares have gained 11.9% in the past year against the industry’s 9.6% decline.
Let’s look into the factors driving the company’s performance.
What’s Aiding CSL?
The company is benefiting from its global footprint, focus on product launches and ability to penetrate different markets through acquisitions. CSL’s Carlisle Construction Materials (CCM) segment is gaining from strengthening reroofing activity. Also, the growing demand for energy-efficient building products bodes well for the segment. Growing demand in the medical market and commercial aerospace business set the stage for the Carlisle Interconnect Technologies (CIT) segment. The Carlisle Fluid Technologies (CFT) segment is being supported by the focus on product introductions, positive pricing and the growing backlog level.
With acquisitions in Germany and the Netherlands over the past few years, the company has become one of the major European manufacturers and suppliers of EPDM roofing systems. Its acquisition of MBTechnology, Inc. (February 2022) strengthened the CCM segment's building products platform, boosting its energy-efficient solution. Also, the Henry Company acquisition in September 2021 boosted Carlisle’s product offerings for construction activities. It is worth noting that acquisitions boosted revenues by 0.2% in fourth-quarter 2022.
Image Source: Zacks Investment Research
Under the Vision 2025 program, Carlisle looks forward to achieving above-market organic growth, acquiring new assets and leveraging its Carlisle Operating System (COS) to drive efficiencies through business processes apart from returning cash to its shareholders. Price realization, higher volumes and contribution from the COS increased the company’s operating margin by 320 basis points in fourth-quarter 2022.
Carlisle utilizes its cash flow to reward its shareholders through dividend payouts and share-repurchase programs. In 2022, Carlisle paid out dividends worth $134.4 million and repurchased shares for $400 million. Its quarterly dividend rate was hiked by 39% in August 2022.
Zacks Rank & Stocks to Consider
Carlisle carries a Zacks Rank #4 (Sell). Some better-ranked companies are discussed below:
Deere & Company DE presently has a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, Deere & Company’s earnings estimates have increased 6.4% for fiscal 2023. The stock has rallied 17.5% in the past year.
Ingersoll Rand Inc. IR presently carries a Zacks Rank #2 (Buy). IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, Ingersoll Rand’s earnings estimates have increased 3.4% for 2023. The stock has gained 18.5% in the past year.
Parker-Hannifin Corporation PH presently has a Zacks Rank of 2. PH’s earnings surprise in the last four quarters was 9.1%, on average.
In the past 60 days, Parker-Hannifin’s earnings estimates have increased 1.3% for fiscal 2023. The stock has rallied 21.9% in the past year.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.8% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Growing demand in the medical market and commercial aerospace business set the stage for the Carlisle Interconnect Technologies (CIT) segment. Carlisle Companies Incorporated CSL shares have gained 11.9% in the past year against the industry’s 9.6% decline. Also, the growing demand for energy-efficient building products bodes well for the segment.
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Deere & Company DE presently has a Zacks Rank #1 (Strong Buy). Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report To read this article on Zacks.com click here. Carlisle Companies Incorporated CSL shares have gained 11.9% in the past year against the industry’s 9.6% decline.
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Image Source: Zacks Investment Research Under the Vision 2025 program, Carlisle looks forward to achieving above-market organic growth, acquiring new assets and leveraging its Carlisle Operating System (COS) to drive efficiencies through business processes apart from returning cash to its shareholders. Zacks Rank & Stocks to Consider Carlisle carries a Zacks Rank #4 (Sell). Click to get this free report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Carlisle Companies Incorporated CSL shares have gained 11.9% in the past year against the industry’s 9.6% decline. In the past 60 days, Deere & Company’s earnings estimates have increased 6.4% for fiscal 2023. Also, the growing demand for energy-efficient building products bodes well for the segment.
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8519bcc8-b249-4844-893a-af3347c7763d
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720745.0
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2023-02-28 00:00:00 UTC
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Some US Caterpillar workers plan possible strike once contract expires
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https://www.nasdaq.com/articles/some-us-caterpillar-workers-plan-possible-strike-once-contract-expires
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By Bianca Flowers
Feb 28 (Reuters) - Union workers at four Caterpillar Inc CAT.N U.S. facilities have threatened to strike for wage increases, improved safety measures and better healthcare benefits once a six-year labor contract expires this week.
The contract, which covers roughly 7,000 union employees represented by the United Auto Workers at three manufacturing plants in central Illinois and a parts and distribution center in York, Pennsylvania, will end on March 1.
Unionized workers at the world's largest construction and mining equipment manufacturer are pushing for a reversal of parts of prior contracts that they believe have stagnated wages, according to a statement released by a rank and file committee formed by Caterpillar workers.
"We've been losing every contract for decades - the 2017 contract was nowhere near what we needed," the statement read.
An increase in strike activity at U.S.-based companies over the past two years has emboldened labor unions' bargaining efforts to ensure cost-of-living adjustments keep pace with inflation that has driven up prices for basic necessities. A recent report from Cornell University that tracks work stoppages found that labor strikes were up 52% in 2022 from the year prior.
"I think this is a period where unions and workers can take advantage of the current labor market conditions to try to get back some of what they lost," said Todd Vachon, an assistant professor of labor studies and employment relations at Rutgers University.
In January, union workers at the four Caterpillar facilities voted almost unanimously to authorize a strike, according to one local union's Facebook page. It was not clear how many workers voted in favor. The company has more than 100,000 employees worldwide.
Caterpillar did not respond to a request for comment. However, the Irving, Texas-based company said on its website that it will "continue to operate our facilities" with management and contract workers.
Heavy machinery companies like Caterpillar and rival Deere & Co DE.N ramped up production to capitalize on growing demand from farmers and mining customers during a period of soaring grain and energy prices last year. A short supply of workers, experts said, has given unions bargaining power to negotiate better contracts.
(Reporting by Bianca Flowers in Chicago Editing by Matthew Lewis)
((Bianca.Flowers@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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An increase in strike activity at U.S.-based companies over the past two years has emboldened labor unions' bargaining efforts to ensure cost-of-living adjustments keep pace with inflation that has driven up prices for basic necessities. "We've been losing every contract for decades - the 2017 contract was nowhere near what we needed," the statement read. The company has more than 100,000 employees worldwide.
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An increase in strike activity at U.S.-based companies over the past two years has emboldened labor unions' bargaining efforts to ensure cost-of-living adjustments keep pace with inflation that has driven up prices for basic necessities. "We've been losing every contract for decades - the 2017 contract was nowhere near what we needed," the statement read. The company has more than 100,000 employees worldwide.
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"We've been losing every contract for decades - the 2017 contract was nowhere near what we needed," the statement read. An increase in strike activity at U.S.-based companies over the past two years has emboldened labor unions' bargaining efforts to ensure cost-of-living adjustments keep pace with inflation that has driven up prices for basic necessities. The company has more than 100,000 employees worldwide.
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"We've been losing every contract for decades - the 2017 contract was nowhere near what we needed," the statement read. An increase in strike activity at U.S.-based companies over the past two years has emboldened labor unions' bargaining efforts to ensure cost-of-living adjustments keep pace with inflation that has driven up prices for basic necessities. The company has more than 100,000 employees worldwide.
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63e8e709-316f-4df5-813f-f78b72196d3d
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720746.0
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2023-02-27 00:00:00 UTC
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TriMas (TRS) Earnings Miss Estimates in Q4, Revenue Dip Y/Y
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https://www.nasdaq.com/articles/trimas-trs-earnings-miss-estimates-in-q4-revenue-dip-y-y
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TriMas Corporation TRS reported fourth-quarter 2022 adjusted earnings per share (EPS) of 62 cents, missing the Zacks Consensus Estimate of 66 cents. However, the bottom line increased 11% from the prior-year quarter’s levels.
Including the impacts of one-time items, the company reported EPS of 45 cents compared with the year-ago quarter's 30 cents.
The company's revenues declined 2.7% year over year to $203 million, attributed to lower demand for TriMas Packaging's products used in certain consumer goods applications and the effects of unfavorable currency exchange. The top line missed the Zacks Consensus Estimate of $212 million.
TriMas Corporation Price, Consensus and EPS Surprise
TriMas Corporation price-consensus-eps-surprise-chart | TriMas Corporation Quote
Costs & Margins
Cost of sales decreased 1.1% year over year to $158 million in the reported quarter. Gross profit fell 7.7% year over year to $46 million. The gross margin was 22.4% compared with 23.6% in the prior-year quarter.
Selling, general and administrative expenses were up 15.4% year over year to $37 million. Adjusted operating profit increased 47.8% year over year to $36 million, owing to the favorable impacts of price increases. The adjusted operating margin expanded to 17.8% from the prior-year quarter’s 11.7%.
Segment Performance
Packaging: Net sales were $106 million compared with the year-ago quarter’s $124 million. Adjusted operating profit declined 31.7% year over year to $15 million in the reported quarter.
Aerospace: Net sales increased 6.5% year over year to $51 million in the fourth quarter. The segment reported an adjusted operating profit of $1.4 million compared with the year-ago quarter’s $3.5 million.
Specialty Products: The segment's revenues increased 24.4% year over year to $47 million. Adjusted operating profit surged 75.9% year over year to $9.5 million.
Financial Performance
In 2022, TriMas repurchased approximately 1.3 million shares of its outstanding common stock for $36.9 million. As of Dec 31, 2022, the company had $410 million of cash and aggregate availability under its revolving credit facility.
TriMas generated $89 million of adjusted cash flow from operations in 2022 compared with $145 million in the prior year. The company ended the year with $112.1 million of unrestricted cash on hand. As of Dec 31, 2022, the total debt was $394.7 million compared with $393.8 million as of Dec 31, 2021.
2022 Results
TriMas reported an adjusted EPS of $2.12 in 2022 compared with $2.24 in the prior year. Earnings missed the Zacks Consensus Estimate of $2.15. Including one-time items, the bottom line was $1.56 compared with $1.32 in 2021.
Sales were up 3.1% year over year to $883 million. The top line missed the Zacks Consensus Estimate of $892 billion.
2023 Guidance
For first-quarter 2023, the company expects adjusted EPS between 24 cents and 28 cents.
TriMas expects year-over-year sales growth of 10-15% for 2023. Adjusted EPS is expected to be $2.00-$2.20. It expects free cash flow to be greater than 100% of net income in 2023.
Price Performance
Shares of TriMas have lost 9.6% in the past year against the industry’s growth of 2.1%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
TriMas carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS flaunt a Zacks Rank #1 (Strong Buy) at present, and DE has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.57 per share. This indicates an 11.7% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 16% north in the past 60 days. OI’s shares gained 71.3% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $6.04 per share. This indicates a 39.5% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 17% in the past 60 days. Its shares gained 29.7% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 4.7%. Its shares gained 15.9% in the last year.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
O-I Glass, Inc. (OI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
TriMas Corporation (TRS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. The company's revenues declined 2.7% year over year to $203 million, attributed to lower demand for TriMas Packaging's products used in certain consumer goods applications and the effects of unfavorable currency exchange.
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TriMas Corporation Price, Consensus and EPS Surprise TriMas Corporation price-consensus-eps-surprise-chart | TriMas Corporation Quote Costs & Margins Cost of sales decreased 1.1% year over year to $158 million in the reported quarter. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report TriMas Corporation (TRS) : Free Stock Analysis Report To read this article on Zacks.com click here. The company's revenues declined 2.7% year over year to $203 million, attributed to lower demand for TriMas Packaging's products used in certain consumer goods applications and the effects of unfavorable currency exchange.
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TriMas Corporation Price, Consensus and EPS Surprise TriMas Corporation price-consensus-eps-surprise-chart | TriMas Corporation Quote Costs & Margins Cost of sales decreased 1.1% year over year to $158 million in the reported quarter. The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report TriMas Corporation (TRS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Adjusted operating profit declined 31.7% year over year to $15 million in the reported quarter. The company's revenues declined 2.7% year over year to $203 million, attributed to lower demand for TriMas Packaging's products used in certain consumer goods applications and the effects of unfavorable currency exchange. TriMas Corporation Price, Consensus and EPS Surprise TriMas Corporation price-consensus-eps-surprise-chart | TriMas Corporation Quote Costs & Margins Cost of sales decreased 1.1% year over year to $158 million in the reported quarter.
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720747.0
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2023-02-27 00:00:00 UTC
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Deere and CarMax have been highlighted as Zacks Bull and Bear of the Day
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https://www.nasdaq.com/articles/deere-and-carmax-have-been-highlighted-as-zacks-bull-and-bear-of-the-day
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For Immediate Release
Chicago, IL – February 27, 2023 – Zacks Equity Research shares Deere & Company DE as the Bull of the Day and CarMax KMX as the Bear of the Day. In addition, Zacks Equity Research provides analysis on NVIDIA NVDA, Tesla TSLA and Warner Bros. Discovery WBD.
Here is a synopsis of all five stocks.
Bull of the Day:
The Zacks Industrial Products sector is currently ranked #1 out of all 16 Zacks sectors, indicating that companies within the realm have witnessed positive earnings estimate revisions.
And as we’re all aware, 50% of a stock's price movement can be attributed to its group, reflecting the importance of targeting stocks in sectors with bright outlooks.
One company in the sector, Deere & Company, has been no exception, currently sporting the highly-coveted Zacks Rank #1 (Strong Buy).
Illinois-based Deere is the world’s largest producer of agricultural equipment, manufacturing agricultural machinery since 1837 under the iconic John Deere brand with its signature green and yellow color scheme.
Let’s take a deeper dive into the company.
Valuation
DE shares aren’t pricey in terms of valuation, with its current 15.1X forward earnings multiple sitting beneath the five-year median and Zacks Industrial Products sector average.
In addition, the company’s forward price-to-sales currently works out to be 2.4X, modestly above the five-year median and again below the Zacks sector average.
Strong Growth
Deere certainly sports a favorable growth profile, with the Zacks Consensus EPS Estimate of $29.82 for its current fiscal year (FY23) suggesting year-over-year growth of nearly 30%. And in FY24, estimates allude to a further 4% of earnings growth.
The projected earnings growth comes on the back of forecasted year-over-year revenue upticks of 13% in FY23 and 1.6% in FY24.
Quarterly Performance
DE has consistently posted better-than-expected results as of late, exceeding both earnings and revenue estimates in back-to-back quarters.
Just in its latest release, the agriculture titan registered a sizable 18% EPS beat and reported sales 1% above expectations.
Dividends
And for the cherry on top, DE shares pay a dividend, currently yielding 1.1% annually.
While the yield is below the Zacks sector average, Deere’s 13% five-year annualized dividend growth rate bridges the gap in a big way.
Bottom Line
Investors can implement a stellar strategy to find expected winners by taking advantage of the Zacks Rank – one of the most powerful market tools that provides a massive edge.
Additionally, the top 5% of all stocks receive the highly coveted Zacks Rank #1 (Strong Buy). These stocks should outperform the market more than any other rank.
Deere & Co.would be an excellent stock for investors to keep on their watchlists, as displayed by its Zack Rank #1 (Strong Buy).
Bear of the Day:
Stocks have staged a strong rebound in 2023, a welcomed development following a forgettable 2022.
In addition, many of them have seen their earnings outlooks drift higher so far in the year, but the same can’t be said for CarMax.
The company currently sports a Zacks Rank #5 (Strong Sell), with earnings revisions heading entirely in the wrong direction.
CarMax is the largest retailer of used vehicles in the U.S. and one of the nation's largest operators of wholesale vehicle auctions. The company operates under two reportable segments: CarMax Sales Operations and CarMax Auto Finance (CAF).
Let’s take a closer look at how the company currently stacks up.
Valuation
Presently, KMX shares trade at a 24.4X forward earnings multiple, above the 16.8X five-year median by a notable margin and the Zacks Retail and Wholesale sector average.
In addition, the company’s forward price-to-sales works out to be a small 0.4X, below the five-year median of 0.7X and the Zacks sector average.
The stock carries a Style Score of “C” for Value.
Growth Outlook
KMX is slated to take a growth hit, with estimates for its current fiscal year (FY23) indicating a 60% pullback in earnings and a 6% drop in revenue.
Earnings growth resumes in FY24, with the Zacks Consensus EPS Estimate of $2.93 suggesting a 4% increase in the bottom line year-over-year.
Quarterly Performance
CarMax has recently struggled to exceed quarterly estimates, falling short of earnings and revenue estimates in back-to-back quarters.
Just in its latest release, KMX fell short of earnings expectations by nearly 60% and reported sales 10% below expectations.
Bottom Line
Negative earnings estimate revisions and weak quarterly results paint a less-than-ideal picture for the company in the short term.
CarMax is a Zacks Rank #5 (Strong Sell), telling us it has a weak near-term earnings outlook.
Investors should pivot to stocks that either carry a Zacks Rank #1 (Strong Buy) or Zacks Rank #2 (Buy) – these stocks have a much stronger earnings outlook and potential to deliver explosive gains in the short term.
Additional content:
Buyers Can't Get Enough of These 3 Stocks So Far This Year
As February begins to fade, one thing is certain – the first few months of 2023 have been much different from what was endured last year.
Many of those that were punished in 2022 have staged big rebounds, including NVIDIA, Tesla and Warner Bros. Discovery.
In fact, all three are the top-performing S&P 500 stocks year-to-date. For those interested in momentum investing, let’s take a closer look at each one.
Tesla
We’re all highly familiar with Tesla, the undisputed EV leader and one of the most popular stocks over the last decade.
Shares were heavily punished in 2022, losing more than 60% in value. However, the company’s latest quarterly release pushed new life into shares.
Tesla posted better-than-expected results, penciling in a 9% bottom line beat and reporting revenue 2.5% ahead of expectations.
In addition, total EV deliveries for the quarter, a critical metric for the company, totaled roughly 405,000, 1% ahead of our consensus estimate.
TSLA shares presently trade at a 6.2X forward price-to-sales ratio (F1), a few ticks below the 6.6X five-year median and beneath steep highs of 23.5X in 2022.
The stock presently carries a Style Score of “C” for Value.
NVIDIA
Another investor favorite, NVIDIA, is the worldwide leader in visual computing technologies, evolving its focus from PC graphics to artificial intelligence (AI) solutions.
NVIDIA’s latest quarterly release was undoubtedly welcomed by the market, with shares gaining more than 10% following the print.
NVIDIA reported earnings of $0.88 per share, handily beating our consensus estimate by nearly 9%.
In addition, quarterly revenue totaled $6.1 billion, modestly ahead of expectations and declining 20% year-over-year, primarily attributed to a pullback in gaming demand.
However, a big focus point of the company’s release was its Data Center results; Data Center revenue totaled $3.6 billion, growing 11% from the year-ago quarter.
There were also several strategic highlights within the Data Center segment, including a partnership with Deutsche Bank to further the use of AI within financial services.
AI is Wall Street’s new shiny toy in 2023, and NVIDIA looks to become the leader.
Warner Bros. Discovery
Warner Bros. Discovery is a media and entertainment company that creates and distributes a portfolio of content and brands across television, film, and streaming.
The company has seen its earnings outlook improve across several timeframes over the last several months.
In its latest release on February 23rd, WBD posted earnings per share of $0.42, crushing the Zacks Consensus EPS Estimate of -$0.03. In addition, the company generated $11 billion in sales, just a tick below expectations.
Still, the most impressive aspect of WBD could be its growth trajectory; the Zacks Consensus EPS Estimate of $0.96 for its current fiscal year (FY23) suggests an improvement of more than 100% year-over-year.
And in FY24, estimates allude to a further 60% of earnings growth.
Bottom Line
Investors have undoubtedly welcomed the broader market’s rebound in 2023.
All three of these stocks have led the S&P 500’s rebound, finding plenty of buyers year-to-date. For those interested in momentum investing, all three deserve consideration.
Why Haven’t You Looked at Zacks' Top Stocks?
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Media Contact
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index.Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
CarMax, Inc. (KMX) : Free Stock Analysis Report
Warner Bros. Discovery, Inc. (WBD) : Free Stock Analysis Report
Tesla, Inc. (TSLA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Bottom Line Investors can implement a stellar strategy to find expected winners by taking advantage of the Zacks Rank – one of the most powerful market tools that provides a massive edge. Valuation Presently, KMX shares trade at a 24.4X forward earnings multiple, above the 16.8X five-year median by a notable margin and the Zacks Retail and Wholesale sector average. Another investor favorite, NVIDIA, is the worldwide leader in visual computing technologies, evolving its focus from PC graphics to artificial intelligence (AI) solutions.
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In addition, Zacks Equity Research provides analysis on NVIDIA NVDA, Tesla TSLA and Warner Bros. Click to get this free report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report CarMax, Inc. (KMX) : Free Stock Analysis Report Warner Bros. For Immediate Release Chicago, IL – February 27, 2023 – Zacks Equity Research shares Deere & Company DE as the Bull of the Day and CarMax KMX as the Bear of the Day.
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Investors should pivot to stocks that either carry a Zacks Rank #1 (Strong Buy) or Zacks Rank #2 (Buy) – these stocks have a much stronger earnings outlook and potential to deliver explosive gains in the short term. Click to get this free report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report CarMax, Inc. (KMX) : Free Stock Analysis Report Warner Bros. For Immediate Release Chicago, IL – February 27, 2023 – Zacks Equity Research shares Deere & Company DE as the Bull of the Day and CarMax KMX as the Bear of the Day.
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One company in the sector, Deere & Company, has been no exception, currently sporting the highly-coveted Zacks Rank #1 (Strong Buy). Investors should pivot to stocks that either carry a Zacks Rank #1 (Strong Buy) or Zacks Rank #2 (Buy) – these stocks have a much stronger earnings outlook and potential to deliver explosive gains in the short term. For Immediate Release Chicago, IL – February 27, 2023 – Zacks Equity Research shares Deere & Company DE as the Bull of the Day and CarMax KMX as the Bear of the Day.
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2023-02-27 00:00:00 UTC
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Best-Performing ETFs of Last Week
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https://www.nasdaq.com/articles/best-performing-etfs-of-last-week-1
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Wall Street was downbeat, with the S&P 500, the Dow Jones, the Nasdaq Composite and the Russell 2000 losing about 2.7%, 3%, 3.3% and 2.9%, respectively, last week, due to rising rate worries. A round of upbeat economic data points indicated a longer-than-expected Fed rate hike plan. However, the Fed minutes infused some optimism once again as almost all officials supported a slower pace of interest rate increases.
Fed Minutes in Focus
Per the minutes, the interest rates will continue moving higher amid the ongoing inflation concerns but at a slower pace, which the Fed officials think is the best way to manage the risks of raising rates. At the same time, they were also concerned about stopping or slowing their inflation-fighting campaign too soon. The central bank raised interest rates by 25 bps last month after hiking 475 bps last year in the fastest hike since the 1980s.
PCE Price Index Data in Focus
Meanwhile, the Fed's preferred inflation measure increased last month at its fastest clip since June, an ominous sign that price pressures remain deep-rooted in the U.S. economy and could lead the Fed to further interest rate hikes well into this year. Consumer prices rose 0.6% sequentially in January, up sharply from a 0.2% sequential increase in December. On a year-over-year basis, prices rose 5.4%, up from a 5.3% annual increase in December.
Uptick in U.S. Treasury Yields
The overall impact of upbeat data points and high inflation was the uptick in bond yields. The benchmark U.S. treasury yield was 3.82% at the start of the week, while it ended the week at 3.95%. The six-month U.S. treasury yield was 4.99% at the start of the week while it ended the week at 5.06%.
Key Earnings Mixed-to-Upbeat
Apart from economic events, earnings releases were mixed-to-upbeat last week. Chinese e-commerce giant Alibaba Group BABA reported robust third-quarter fiscal 2023 before the opening bell on Feb 23, wherein it beat the Zacks Consensus Estimate for both earnings and revenues. Nvidia NVDA cheered investors with its solid fourth-quarter fiscal 2023 results, wherein it topped both earnings and revenue estimates. It also offered a bullish revenue outlook for the current quarter.
Walmart WMT reported fourth-quarter fiscal 2023 results, wherein it surpassed both earnings and revenue estimates but issued a weaker-than-expected outlook for the full year. Deere & Co DE reported robust first-quarter fiscal 2023 results, beating estimates on both the top and bottom lines. The company offered a bullish outlook for the fiscal year.
Oil Prices Remain Almost Unchanged
Oil prices remained almost unchanged last week as global growth slowdown fears strengthened on cues of central banks’ further policy tightening. The data released last week showed another solid rise in U.S. crude oil inventories. However, Russia’s plans to cut oil exports from its western ports by up to 25% in March, exceeding its announced production cuts of 500,000 barrels per day, offered some support to crude prices.
Against this backdrop, below, we highlight a few winning ETFs of last week.
ETFs in Focus
KS Global Carbon Offset Strategy ETF KSET – Up 32.8%
This ETF is active and does not track a benchmark. The KraneShares Global Carbon Offset Strategy ETF provides broad coverage of the voluntary carbon market by tracking carbon offset futures contracts. The rise of de-carbonization has made the strategy a winner.
Breakwave Dry Bulk Shipping ETF BDRY – Up 17.8%
The Breakwave Dry Bulk Shipping ETF seeks to provide investors with exposure to the daily change in the price of dry bulk freight futures, before expenses and liabilities.
Russia’s invasion of Ukraine boosted crude prices to 14-year highs. Apart from energy companies, oil tankers benefited from the trend too. As new sanctions have shifted the flow of Russian oil to more distant ports, one analyst thinks the rally in shipping stocks could keep going, as quoted on barrons.com.
Noble Absolute Return ETF NOPE – Up 7.3%
The Noble Absolute Return ETF seeks capital appreciation across a full market cycle. The fund charges 98 bps in fees. The fund takes long positions in best securities with improving circumstances and short positions in best securities with worsening scenarios. SPDR SER TR BLOOMBERG 1-3 MO takes about 62.7% of the fund, while cash takes about 150%.
Simplify Tail Risk Strategy ETF CYA – Up 6.5%
Simplify Tail Risk Strategy ETF seeks to provide income and capital appreciation while protecting against significant downside risk to investors by hedging diversified portfolios against severe equity market selloffs. The fund deploys advanced options strategies that are designed to handle multiple types of market dislocations. The fund charges 84 bps in fees and yields 3.42% annually.
Active Bear ETF HDGE – Up 4.2%
The AdvisorShares Ranger Equity Bear ETF seeks capital appreciation through short sales of domestically traded equity securities. HDGE implements a fundamental, research-driven security selection process based on forensic accounting techniques that short sell U.S. listed equities. HDGE looks to identify securities with low earnings quality or aggressive accounting designed to bolster short-term corporate performance and may exhibit above-average downside volatility.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Walmart Inc. (WMT) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Alibaba Group Holding Limited (BABA) : Free Stock Analysis Report
AdvisorShares Ranger Equity Bear ETF (HDGE): ETF Research Reports
Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports
Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports
KraneShares Global Carbon Offset Strategy ETF (KSET): ETF Research Reports
Noble Absolute Return ETF (NOPE): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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HDGE looks to identify securities with low earnings quality or aggressive accounting designed to bolster short-term corporate performance and may exhibit above-average downside volatility. PCE Price Index Data in Focus Meanwhile, the Fed's preferred inflation measure increased last month at its fastest clip since June, an ominous sign that price pressures remain deep-rooted in the U.S. economy and could lead the Fed to further interest rate hikes well into this year. Consumer prices rose 0.6% sequentially in January, up sharply from a 0.2% sequential increase in December.
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Breakwave Dry Bulk Shipping ETF BDRY – Up 17.8% The Breakwave Dry Bulk Shipping ETF seeks to provide investors with exposure to the daily change in the price of dry bulk freight futures, before expenses and liabilities. Simplify Tail Risk Strategy ETF CYA – Up 6.5% Simplify Tail Risk Strategy ETF seeks to provide income and capital appreciation while protecting against significant downside risk to investors by hedging diversified portfolios against severe equity market selloffs. Click to get this free report Walmart Inc. (WMT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Alibaba Group Holding Limited (BABA) : Free Stock Analysis Report AdvisorShares Ranger Equity Bear ETF (HDGE): ETF Research Reports Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports KraneShares Global Carbon Offset Strategy ETF (KSET): ETF Research Reports Noble Absolute Return ETF (NOPE): ETF Research Reports To read this article on Zacks.com click here.
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PCE Price Index Data in Focus Meanwhile, the Fed's preferred inflation measure increased last month at its fastest clip since June, an ominous sign that price pressures remain deep-rooted in the U.S. economy and could lead the Fed to further interest rate hikes well into this year. Simplify Tail Risk Strategy ETF CYA – Up 6.5% Simplify Tail Risk Strategy ETF seeks to provide income and capital appreciation while protecting against significant downside risk to investors by hedging diversified portfolios against severe equity market selloffs. Click to get this free report Walmart Inc. (WMT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Alibaba Group Holding Limited (BABA) : Free Stock Analysis Report AdvisorShares Ranger Equity Bear ETF (HDGE): ETF Research Reports Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports KraneShares Global Carbon Offset Strategy ETF (KSET): ETF Research Reports Noble Absolute Return ETF (NOPE): ETF Research Reports To read this article on Zacks.com click here.
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The data released last week showed another solid rise in U.S. crude oil inventories. Click to get this free report Walmart Inc. (WMT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Alibaba Group Holding Limited (BABA) : Free Stock Analysis Report AdvisorShares Ranger Equity Bear ETF (HDGE): ETF Research Reports Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports KraneShares Global Carbon Offset Strategy ETF (KSET): ETF Research Reports Noble Absolute Return ETF (NOPE): ETF Research Reports To read this article on Zacks.com click here. PCE Price Index Data in Focus Meanwhile, the Fed's preferred inflation measure increased last month at its fastest clip since June, an ominous sign that price pressures remain deep-rooted in the U.S. economy and could lead the Fed to further interest rate hikes well into this year.
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6ec4848b-9bf7-4674-952c-3e5484989bd5
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720749.0
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2023-02-27 00:00:00 UTC
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Bull of the Day: Deere & Company (DE)
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DE
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https://www.nasdaq.com/articles/bull-of-the-day%3A-deere-company-de
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nan
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nan
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The Zacks Industrial Products sector is currently ranked #1 out of all 16 Zacks sectors, indicating that companies within the realm have witnessed positive earnings estimate revisions.
And as we’re all aware, 50% of a stock's price movement can be attributed to its group, reflecting the importance of targeting stocks in sectors with bright outlooks.
One company in the sector, Deere & Company DE, has been no exception, currently sporting the highly-coveted Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
Illinois-based Deere is the world’s largest producer of agricultural equipment, manufacturing agricultural machinery since 1837 under the iconic John Deere brand with its signature green and yellow color scheme.
Let’s take a deeper dive into the company.
Valuation
DE shares aren’t pricey in terms of valuation, with its current 15.1X forward earnings multiple sitting beneath the five-year median and Zacks Industrial Products sector average.
Image Source: Zacks Investment Research
In addition, the company’s forward price-to-sales currently works out to be 2.4X, modestly above the five-year median and again below the Zacks sector average.
Image Source: Zacks Investment Research
Strong Growth
Deere certainly sports a favorable growth profile, with the Zacks Consensus EPS Estimate of $29.82 for its current fiscal year (FY23) suggesting year-over-year growth of nearly 30%. And in FY24, estimates allude to a further 4% of earnings growth.
The projected earnings growth comes on the back of forecasted year-over-year revenue upticks of 13% in FY23 and 1.6% in FY24.
Quarterly Performance
DE has consistently posted better-than-expected results as of late, exceeding both earnings and revenue estimates in back-to-back quarters.
Just in its latest release, the agriculture titan registered a sizable 18% EPS beat and reported sales 1% above expectations. Below is a chart illustrating the company’s revenue on a quarterly basis.
Image Source: Zacks Investment Research
Dividends
And for the cherry on top, DE shares pay a dividend, currently yielding 1.1% annually.
While the yield is below the Zacks sector average, Deere’s 13% five-year annualized dividend growth rate bridges the gap in a big way.
Image Source: Zacks Investment Research
Bottom Line
Investors can implement a stellar strategy to find expected winners by taking advantage of the Zacks Rank – one of the most powerful market tools that provides a massive edge.
Additionally, the top 5% of all stocks receive the highly coveted Zacks Rank #1 (Strong Buy). These stocks should outperform the market more than any other rank.
Deere & Company DE would be an excellent stock for investors to keep on their watchlists, as displayed by its Zack Rank #1 (Strong Buy).
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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While the yield is below the Zacks sector average, Deere’s 13% five-year annualized dividend growth rate bridges the gap in a big way. Deere & Company DE would be an excellent stock for investors to keep on their watchlists, as displayed by its Zack Rank #1 (Strong Buy). One company in the sector, Deere & Company DE, has been no exception, currently sporting the highly-coveted Zacks Rank #1 (Strong Buy).
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Image Source: Zacks Investment Research In addition, the company’s forward price-to-sales currently works out to be 2.4X, modestly above the five-year median and again below the Zacks sector average. Image Source: Zacks Investment Research Strong Growth Deere certainly sports a favorable growth profile, with the Zacks Consensus EPS Estimate of $29.82 for its current fiscal year (FY23) suggesting year-over-year growth of nearly 30%. While the yield is below the Zacks sector average, Deere’s 13% five-year annualized dividend growth rate bridges the gap in a big way.
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Image Source: Zacks Investment Research In addition, the company’s forward price-to-sales currently works out to be 2.4X, modestly above the five-year median and again below the Zacks sector average. Image Source: Zacks Investment Research Strong Growth Deere certainly sports a favorable growth profile, with the Zacks Consensus EPS Estimate of $29.82 for its current fiscal year (FY23) suggesting year-over-year growth of nearly 30%. One company in the sector, Deere & Company DE, has been no exception, currently sporting the highly-coveted Zacks Rank #1 (Strong Buy).
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One company in the sector, Deere & Company DE, has been no exception, currently sporting the highly-coveted Zacks Rank #1 (Strong Buy). Image Source: Zacks Investment Research In addition, the company’s forward price-to-sales currently works out to be 2.4X, modestly above the five-year median and again below the Zacks sector average. Image Source: Zacks Investment Research Illinois-based Deere is the world’s largest producer of agricultural equipment, manufacturing agricultural machinery since 1837 under the iconic John Deere brand with its signature green and yellow color scheme.
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c22213d4-001d-424c-86ed-94d710c03339
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720750.0
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2023-02-26 00:00:00 UTC
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Validea Guru Fundamental Report for DE - 2/26/2023
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DE
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https://www.nasdaq.com/articles/validea-guru-fundamental-report-for-de-2-26-2023
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nan
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nan
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Below is Validea's guru fundamental report for DEERE & COMPANY (DE). Of the 22 guru strategies we follow, DE rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental momentum and price momentum.
DEERE & COMPANY (DE) is a large-cap growth stock in the Constr. & Agric. Machinery industry. The rating using this strategy is 94% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
FUNDAMENTAL MOMENTUM: PASS
TWELVE MINUS ONE MOMENTUM: PASS
FINAL RANK: PASS
Detailed Analysis of DEERE & COMPANY
DE Guru Analysis
DE Fundamental Analysis
Dashan Huang Portfolio
About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. His paper "Twin Momentum" looked at combining traditional price momentum with improving fundamentals to generate market outperformance. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure. He showed that stocks in the top 20% of the universe according to that measure outperformed the market going forward. When he combined that measure with price momentum, he was able to double its outperformance.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The rating using this strategy is 94% based on the firm’s underlying fundamentals and the stock’s valuation. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. Below is Validea's guru fundamental report for DEERE & COMPANY (DE).
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Of the 22 guru strategies we follow, DE rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis Dashan Huang Portfolio About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure.
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Of the 22 guru strategies we follow, DE rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis Dashan Huang Portfolio About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure.
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Below is Validea's guru fundamental report for DEERE & COMPANY (DE). Of the 22 guru strategies we follow, DE rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental momentum and price momentum.
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234bd77f-7ae2-48d0-baa1-d53320bf51b4
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720751.0
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2023-02-24 00:00:00 UTC
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Brokers Suggest Investing in Deere (DE): Read This Before Placing a Bet
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DE
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https://www.nasdaq.com/articles/brokers-suggest-investing-in-deere-de%3A-read-this-before-placing-a-bet-0
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nan
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nan
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The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Deere (DE).
Deere currently has an average brokerage recommendation (ABR) of 1.74, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 19 brokerage firms. An ABR of 1.74 approximates between Strong Buy and Buy.
Of the 19 recommendations that derive the current ABR, 12 are Strong Buy, representing 63.2% of all recommendations.
Brokerage Recommendation Trends for DE
Check price target & stock forecast for Deere here>>>
While the ABR calls for buying Deere, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.
Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near -term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
ABR Should Not Be Confused With Zacks Rank
Although both Zacks Rank and ABR are displayed in a range of 1-5, they are different measures altogether.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.
Is DE a Good Investment?
Looking at the earnings estimate revisions for Deere, the Zacks Consensus Estimate for the current year has increased 7.1% over the past month to $29.82.
Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Deere. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, the Buy-equivalent ABR for Deere may serve as a useful guide for investors.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, the Buy-equivalent ABR for Deere may serve as a useful guide for investors. The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock.
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Deere currently has an average brokerage recommendation (ABR) of 1.74, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
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Deere currently has an average brokerage recommendation (ABR) of 1.74, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
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Looking at the earnings estimate revisions for Deere, the Zacks Consensus Estimate for the current year has increased 7.1% over the past month to $29.82. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, the Buy-equivalent ABR for Deere may serve as a useful guide for investors. The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock.
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b715f0d9-fe1d-4d09-9f09-7913bb57b93c
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720752.0
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2023-02-24 00:00:00 UTC
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Best Income Stocks to Buy for February 24th
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DE
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https://www.nasdaq.com/articles/best-income-stocks-to-buy-for-february-24th-0
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nan
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nan
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Here are three stocks with buy rank and strong income characteristics for investors to consider today, February 24th:
Deere & Company DE: This distributor of agricultural, forestry and construction equipment has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.9% over the last 60 days.
Deere & Company Price and Consensus
Deere & Company price-consensus-chart | Deere & Company Quote
This Zacks Rank #1 company has a dividend yield of 1.1%, compared with the industry average of 0.0%.
Deere & Company Dividend Yield (TTM)
Deere & Company dividend-yield-ttm | Deere & Company Quote
LCNB Corp. LCNB: This financial holding company for LCNB National Bank has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.2% over the last 60 days.
LCNB Corporation Price and Consensus
LCNB Corporation price-consensus-chart | LCNB Corporation Quote
This Zacks Rank #1 company has a dividend yield of 4.5%, compared with the industry average of 2.5%.
LCNB Corporation Dividend Yield (TTM)
LCNB Corporation dividend-yield-ttm | LCNB Corporation Quote
MidCap Financial Investment Corporation MFIC: This business development and management investment company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.7% over the last 60 days.
MidCap Financial Investment Corporation Price and Consensus
MidCap Financial Investment Corporation price-consensus-chart | MidCap Financial Investment Corporation Quote
This Zacks Rank #1 company has a dividend yield of 11.9%, compared with the industry average of 0.0%.
MidCap Financial Investment Corporation Dividend Yield (TTM)
MidCap Financial Investment Corporation dividend-yield-ttm | MidCap Financial Investment Corporation Quote
See the full list of top ranked stocks here.
Find more top income stocks with some of our great premium screens.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
LCNB Corporation (LCNB) : Free Stock Analysis Report
MidCap Financial Investment Corporation (MFIC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Here are three stocks with buy rank and strong income characteristics for investors to consider today, February 24th: Deere & Company DE: This distributor of agricultural, forestry and construction equipment has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.9% over the last 60 days. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. Deere & Company Price and Consensus Deere & Company price-consensus-chart | Deere & Company Quote This Zacks Rank #1 company has a dividend yield of 1.1%, compared with the industry average of 0.0%.
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MidCap Financial Investment Corporation Price and Consensus MidCap Financial Investment Corporation price-consensus-chart | MidCap Financial Investment Corporation Quote This Zacks Rank #1 company has a dividend yield of 11.9%, compared with the industry average of 0.0%. MidCap Financial Investment Corporation Dividend Yield (TTM) MidCap Financial Investment Corporation dividend-yield-ttm | MidCap Financial Investment Corporation Quote See the full list of top ranked stocks here. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report LCNB Corporation (LCNB) : Free Stock Analysis Report MidCap Financial Investment Corporation (MFIC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Deere & Company Dividend Yield (TTM) Deere & Company dividend-yield-ttm | Deere & Company Quote LCNB Corp. LCNB: This financial holding company for LCNB National Bank has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.2% over the last 60 days. LCNB Corporation Dividend Yield (TTM) LCNB Corporation dividend-yield-ttm | LCNB Corporation Quote MidCap Financial Investment Corporation MFIC: This business development and management investment company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.7% over the last 60 days. MidCap Financial Investment Corporation Price and Consensus MidCap Financial Investment Corporation price-consensus-chart | MidCap Financial Investment Corporation Quote This Zacks Rank #1 company has a dividend yield of 11.9%, compared with the industry average of 0.0%.
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Here are three stocks with buy rank and strong income characteristics for investors to consider today, February 24th: Deere & Company DE: This distributor of agricultural, forestry and construction equipment has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.9% over the last 60 days. Deere & Company Dividend Yield (TTM) Deere & Company dividend-yield-ttm | Deere & Company Quote LCNB Corp. LCNB: This financial holding company for LCNB National Bank has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.2% over the last 60 days. MidCap Financial Investment Corporation Dividend Yield (TTM) MidCap Financial Investment Corporation dividend-yield-ttm | MidCap Financial Investment Corporation Quote See the full list of top ranked stocks here.
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998c50e4-5b5a-49be-a7e0-c00924ab4704
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720753.0
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2023-02-23 00:00:00 UTC
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Daily Dividend Report: ETN,TMO,DE,A,SYY
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DE
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https://www.nasdaq.com/articles/daily-dividend-report%3A-etntmodeasyy
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nan
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nan
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The Board of Directors of intelligent power management company Eaton today declared a quarterly dividend of $0.86 per ordinary share, an increase of 6% over its last quarterly dividend. The dividend is payable March 24, 2023, to shareholders of record at the close of business on March 6, 2023. Eaton has paid dividends on its shares every year since 1923.
Thermo Fisher Scientific, the world leader in serving science, today announced that its Board of Directors has authorized a quarterly cash dividend of $0.35 per common share payable on April 14, 2023, to stockholders of record as of March 15, 2023. This reflects a 17% increase over the previous dividend payment of $0.30.
The Deere Board of Directors today declared a quarterly dividend of $1.25 per share payable May 8, 2023, to stockholders of record on March 31, 2023. The new quarterly rate represents an additional 5 cents per share over the previous level.
Agilent Technologies today announced a quarterly dividend of 22.5 cents per share of common stock will be paid on April 26, 2023, to all shareholders of record as of the close of business on April 4, 2023.
Sysco today announced that the Board of Directors declared a regular quarterly cash dividend of $0.49 per share, payable on April 28, 2023, to common stockholders of record at the close of business on April 6, 2023.
VIDEO: Daily Dividend Report: ETN,TMO,DE,A,SYY
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Thermo Fisher Scientific, the world leader in serving science, today announced that its Board of Directors has authorized a quarterly cash dividend of $0.35 per common share payable on April 14, 2023, to stockholders of record as of March 15, 2023. The Deere Board of Directors today declared a quarterly dividend of $1.25 per share payable May 8, 2023, to stockholders of record on March 31, 2023. The Board of Directors of intelligent power management company Eaton today declared a quarterly dividend of $0.86 per ordinary share, an increase of 6% over its last quarterly dividend.
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Thermo Fisher Scientific, the world leader in serving science, today announced that its Board of Directors has authorized a quarterly cash dividend of $0.35 per common share payable on April 14, 2023, to stockholders of record as of March 15, 2023. Agilent Technologies today announced a quarterly dividend of 22.5 cents per share of common stock will be paid on April 26, 2023, to all shareholders of record as of the close of business on April 4, 2023. Sysco today announced that the Board of Directors declared a regular quarterly cash dividend of $0.49 per share, payable on April 28, 2023, to common stockholders of record at the close of business on April 6, 2023.
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The Board of Directors of intelligent power management company Eaton today declared a quarterly dividend of $0.86 per ordinary share, an increase of 6% over its last quarterly dividend. Thermo Fisher Scientific, the world leader in serving science, today announced that its Board of Directors has authorized a quarterly cash dividend of $0.35 per common share payable on April 14, 2023, to stockholders of record as of March 15, 2023. Sysco today announced that the Board of Directors declared a regular quarterly cash dividend of $0.49 per share, payable on April 28, 2023, to common stockholders of record at the close of business on April 6, 2023.
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The Board of Directors of intelligent power management company Eaton today declared a quarterly dividend of $0.86 per ordinary share, an increase of 6% over its last quarterly dividend. Agilent Technologies today announced a quarterly dividend of 22.5 cents per share of common stock will be paid on April 26, 2023, to all shareholders of record as of the close of business on April 4, 2023. Sysco today announced that the Board of Directors declared a regular quarterly cash dividend of $0.49 per share, payable on April 28, 2023, to common stockholders of record at the close of business on April 6, 2023.
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3e12e87e-051d-437e-8c27-a79e495c51ce
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720754.0
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2023-02-23 00:00:00 UTC
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John Bean (JBT) Earnings Beat Estimates in Q4, Sales Rise Y/Y
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DE
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https://www.nasdaq.com/articles/john-bean-jbt-earnings-beat-estimates-in-q4-sales-rise-y-y
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nan
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nan
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John Bean Technologies Corporation JBT reported adjusted earnings of $1.49 per share in fourth-quarter 2022, which surpassed the Zacks Consensus Estimate of $1.44. The bottom line surged 60% from the prior-year quarter.
On a reported basis, the company’s earnings per share were $1.17 compared with the prior-year quarter’s 99 cents.
Revenues of $599 million were in line with the Zacks Consensus Estimate. The top line improved 20.4% from the prior-year quarter.
In the reported quarter, the company’s total orders increased 1% year over year to $593 million. Orders in the JBT FoodTech segment were $432 million compared to a record $455 million in the prior year. In the JBT AeroTech segment, orders went up 23% from the prior-year quarter to $161 million.
Backlog in the FoodTech segment increased 5% from the year-ago quarter to $664 million as of Dec 31, 2022. The AeroTech segment’s backlog was $391 million at the end of the reported quarter, up 5.1% year over year. Total backlog at the end of the fourth quarter was $1,055 million, up 4.8% year over year.
John Bean Technologies Corporation Price, Consensus and EPS Surprise
John Bean Technologies Corporation price-consensus-eps-surprise-chart | John Bean Technologies Corporation Quote
Cost and Margins
Cost of sales increased 21.3% year over year to $432 million in the fourth quarter. Gross profit was up 18.1% year over year to $167 million. The gross margin was 27.8% compared with the year-earlier quarter’s 28.4%.
Selling, general and administrative expenses were up 8.3% year over year to $113 million. Adjusted operating profit improved 68.1% year over year to $63.7 million. Adjusted operating margin was 10.6% in the fourth quarter compared with the prior-year quarter’s 7.6%. In the quarter under review, adjusted EBITDA was around $86 million, reflecting a year-over-year increase of 46.3%. Adjusted EBITDA margin was 14.3% compared with the year-ago quarter’s 11.8%.
Segment Performance
JBT FoodTech: Net sales were $441 million compared with $369 million in the prior-year quarter. Adjusted operating profit amounted to $67.4 million compared with the year-ago quarter’s $45.8 million.
JBT AeroTech: Net sales were $158 million, up 23% from the prior-year quarter. The segment’s adjusted operating profit surged 319.4% year over year to $15.1 million.
Financial Performance
John Bean reported cash and cash equivalents of $73.1 million at the end of 2022, down from $78.8 million at the end of 2021. The company generated around $142 million of cash from operating activities in 2022 compared with $226 million in the prior year.
The company’s total debt was $978 million as of Dec 31, 2022, up from $674 million as of Dec 31, 2021. Liquidity as of Dec 31, 2022, was $526 million compared with $703 million as of Dec 31, 2021.
John Bean completed the acquisition of Bevcorp and Alco in the year, which are highly complementary to FoodTech's diverse products and solutions.
2022 Performance
John Bean delivered adjusted earnings of $4.77 per share in 2022, up 18% from the 2021 level. The reported figure missed the Zacks Consensus Estimate of $5.34. However, the same came in line with the company’s updated guidance of $4.65-$4.80. On a reported basis, earnings per share were $4.07 compared with the prior year’s $3.69.
In 2022, revenues of $2.2 billion lagged the Zacks Consensus Estimate of $2.3 billion. However, the top line improved 16% from the prior-year quarter.
Guidance
The company expects revenues to improve 6-10% from the 2022 reported level. Revenue growth is projected to be 5-9% for the FoodTech segment, which includes a 1-4 % contribution from organic growth and 4-5% from acquisitions. The AeroTech segment’s revenues are expected to increase 10-13% from that reported in 2022.
JBT anticipates spending $3-$4 million on restructuring costs associated with FoodTech for 2023. This is anticipated to result in annual run rate savings of $9-$12 million in 2024 when combined with the actions implemented in the second half of 2022.
Price Performance
John Bean’s shares have gained 5.8% in the past year against the industry’s fall of 15.7%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
John Bean carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS flaunt a Zacks Rank #1 (Strong Buy) at present, and DE has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.51 per share. This indicates a 9.13% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 12.5% north in the past 60 days. OI’s shares gained 66.3% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $5.32 per share. This indicates a 22.4% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 2.7% in the past 60 days. Its shares gained 36.8% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 0.6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 7.1%. Its shares gained 20.7% in the last year.
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O-I Glass, Inc. (OI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
John Bean Technologies Corporation (JBT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries. In the reported quarter, the company’s total orders increased 1% year over year to $593 million.
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Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report John Bean Technologies Corporation (JBT) : Free Stock Analysis Report To read this article on Zacks.com click here. In the reported quarter, the company’s total orders increased 1% year over year to $593 million. Orders in the JBT FoodTech segment were $432 million compared to a record $455 million in the prior year.
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In the reported quarter, the company’s total orders increased 1% year over year to $593 million. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report John Bean Technologies Corporation (JBT) : Free Stock Analysis Report To read this article on Zacks.com click here. Orders in the JBT FoodTech segment were $432 million compared to a record $455 million in the prior year.
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In the reported quarter, the company’s total orders increased 1% year over year to $593 million. Orders in the JBT FoodTech segment were $432 million compared to a record $455 million in the prior year. In the JBT AeroTech segment, orders went up 23% from the prior-year quarter to $161 million.
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e8d8cbbc-be33-4459-94c6-84475ccb2d36
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720755.0
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2023-02-23 00:00:00 UTC
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What's Next For Deere Stock After An Upbeat Q1?
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DE
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https://www.nasdaq.com/articles/whats-next-for-deere-stock-after-an-upbeat-q1
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nan
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nan
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Deere stock (NYSE: DE) is up 4% in a month, outperforming the broader S&P500 index, down 1%. The rise in DE stock can be attributed to the upbeat Q1 fiscal 2023 results it reported last week. Deere’s revenue of $11.4 billion (equipment operations) reflected a stellar 34% y-o-y rise. Sales were up 55% for Production & Precision Agriculture, 14% for Small Agriculture & Turf, and 26% for Construction & Forestry. The sales growth was driven by higher volume/mix and better price realization. Its earnings of $6.55 on a per share basis were up a significant 114% y-o-y, led by about 900 bps rise in operating margin.
Deere is benefiting from a strong farming equipment demand. Farmers are seeing higher incomes due to tightening supplies of corn and wheat. Farmers have more incentive to increase planting given the high grain prices. Given the strong demand outlook and pricing growth, the company raised its outlook for 2023. It expects sales to trend higher and net income between $8.75 and $9.25 billion, compared to its prior guidance of $8.0 and $8.5 billion, and the $7.1 billion figure, the company reported in 2022. Strong Q1 performance and outlook boded well with the investors, evident from the stock price appreciation.
We now estimate Deere’s Valuation to be around $482 per share, about 13% above the current market price of $426. This represents a 16x P/E multiple based on its expected EPS of $30.05 in fiscal 2023, aligning with its last four-year average. At its current valuation of $426, DE appears to have more room for growth, as it is trading at a comparatively low multiple of 14x forward earnings compared to its historical average mentioned above.
While DE stock looks like it can see higher levels, it is helpful to see how Deere’s Peers fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons.
Furthermore, the Covid-19 crisis has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised at how counter-intuitive the stock valuation is for Corning vs. Amerco.
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
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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.
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The rise in DE stock can be attributed to the upbeat Q1 fiscal 2023 results it reported last week. While DE stock looks like it can see higher levels, it is helpful to see how Deere’s Peers fare on metrics that matter. Deere stock (NYSE: DE) is up 4% in a month, outperforming the broader S&P500 index, down 1%.
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Deere’s revenue of $11.4 billion (equipment operations) reflected a stellar 34% y-o-y rise. Given the strong demand outlook and pricing growth, the company raised its outlook for 2023. Deere stock (NYSE: DE) is up 4% in a month, outperforming the broader S&P500 index, down 1%.
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At its current valuation of $426, DE appears to have more room for growth, as it is trading at a comparatively low multiple of 14x forward earnings compared to its historical average mentioned above. Deere stock (NYSE: DE) is up 4% in a month, outperforming the broader S&P500 index, down 1%. The rise in DE stock can be attributed to the upbeat Q1 fiscal 2023 results it reported last week.
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Deere stock (NYSE: DE) is up 4% in a month, outperforming the broader S&P500 index, down 1%. Given the strong demand outlook and pricing growth, the company raised its outlook for 2023. We now estimate Deere’s Valuation to be around $482 per share, about 13% above the current market price of $426.
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dc42d371-3585-409e-824c-fb8f8c6e71bb
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720756.0
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2023-02-23 00:00:00 UTC
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4 Farm Equipment Stocks to Watch in the Promising Industry
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DE
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https://www.nasdaq.com/articles/4-farm-equipment-stocks-to-watch-in-the-promising-industry
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nan
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nan
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The Zacks Manufacturing - Farm Equipment industry is set to benefit from upbeat commodity prices, which will boost farm income. This, in turn, will lead to higher spending on agricultural equipment, which should support the industry in the days ahead. The industry’s focus on revolutionizing agriculture with technology in an effort to make farming automated, easy to use and more precise across the production process is also likely to aid growth.
Players like Deere & Company DE, AGCO Corporation AGCO, Lindsay Corporation LNN and Titan International, Inc. TWI are well-poised to gain from cost-control efforts and their efforts to bring technologically advanced products to the market.
About the Industry
The Zacks Manufacturing - Farm Equipment industry comprises companies that manufacture agricultural equipment. These include tractors, combines, cotton pickers and harvesting equipment; tillage, seeding and application equipment, consisting of sprayers, nutrient management and soil preparation machinery; and hay and forage equipment, comprising self-propelled forage harvesters and attachments, balers, and mowers. Some of these companies produce turf and utility equipment, consisting of riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, commercial mowing equipment, and garden tillers and snow throwers. Some participants manufacture irrigation equipment. The industry players sell their equipment and related parts through independent retail dealer networks and retail outlets. This industry caters to the agriculture, golf and landscape markets.
Trends Shaping the Future of the Manufacturing - Farm Equipment Industry
Growing Demand for Food to Sustain the Industry: The USDA (U.S. Department of Agriculture) projects net farm income at $136.9 billion for 2023, which is 15.9% lower than that reported in 2022. The decline is mainly due to elevated production expenses and lower direct government payments. Nevertheless, despite this decline, net farm income in 2023 will be 26.6% above the 20-year average (2002-2021) of $108.1 billion in inflation-adjusted dollars. This might impact the spending power of farmers. Upbeat commodity prices will support farm income. The need to replace aging equipment will sustain demand for the industry. The farm size has been on the rise in the United States, which calls for more laborers. Given the escalation in labor costs every year, farmers are resorting to farming equipment to replace labor. Demand for agricultural equipment will continue to be supported by increased global demand for food, both from population growth and an increasing proportion of the population aspiring for better living standards. The U.S. agricultural machinery market is projected to reach $52.73 billion by 2027, seeing a CAGR of 3.3% over 2021-2027.
Pricing Actions to Offset High Costs: Farmers have been witnessing higher production costs, particularly of fertilizers. This might impede their purchasing power if commodity prices decline. The industry is also facing raw material cost inflation, particularly steel, and increased transportation costs. Constraints on the availability of raw materials, labor and trucking resources have led to higher lead times for deliveries. Labor shortage might affect their production levels and impair their ability to meet demand. Consequently, the industry players are making every effort to bolster their financial condition, conserve cash and improve profitability. The companies have been implementing pricing and cost-reduction actions, which are likely to help sustain margins in the current scenario.
Technologically Advanced Products to Aid Growth: Customers are increasingly relying on advanced technology, smart farming solutions and mechanization to run their operations. Thus, the industry participants are enhancing investments in launching products equipped with advanced technologies and features to keep up with customers' evolving demands. Initiatives to advance precision agriculture technology will be a game-changer for the industry players, given its productivity-enhancing and sustainability benefits. Demand continues to grow for popular features, which include automatic guide machines in the field and equipment that plants seeds, and applies chemicals and fertilizers with exceptional accuracy. Over the long term, rising population and elevated global demand for food and efficient water use will fuel demand for the industry’s equipment.
Zacks Industry Rank Indicates Bright Prospects
The Zacks Manufacturing - Farm Equipment industry is part of the broader Zacks Industrial Products sector. The industry currently carries a Zacks Industry Rank #34, which places it in the top 14% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bright prospects for the near term. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Looking at the aggregate earnings estimate revisions, it appears that analysts are optimistic about this group’s earnings growth potential. The Manufacturing - Farm Equipment industry’s 2022 earnings estimates have improved 3% over the past year.
Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock market performance and valuation.
Industry Outperforms Sector and S&P 500
The Zacks Manufacturing - Farm Equipment industry has outperformed its sector and the Zacks S&P 500 composite over the past 12 months. Stocks in this industry have gained 24.5% in the past 12 months against the S&P 500’s decline of 7%. The Industrial Products sector has gained 4.4% in the said time frame.
One-Year Price Performance
Industry's Current Valuation
On the basis of the forward 12-month EV/EBITDA ratio, which is a commonly used multiple for valuing farm equipment stocks, we see that the industry is currently trading at 23.59X compared with the S&P 500’s 19.71X. The Industrial Products sector’s forward 12-month EV/EBITDA is 19.88X. This is shown in the charts below.
Enterprise Value/EBITDA (EV/EBITDA) Ratio (F12M)
Enterprise Value/EBITDA (EV/EBITDA) Ratio (F12M)
Over the last five years, the industry has traded as high as 26.92X and as low as 13.35X, with the median being at 11.72X.
4 Manufacturing - Farm Equipment Stocks to Keep an Eye on
AGCO: The company has been gaining from improved farm dynamics and increasing replacement demand for old equipment. AGCO continues to invest in products, precision farming technology and smart farming solutions to improve distribution and enhance digital capabilities to strengthen product offerings. These efforts, along with favorable market demand and the company’s cost-control measures, have driven margin expansion across all regions over the past few quarters. Backed by these tailwinds, the stock has gained 18% in the past year.
The Zacks Consensus Estimate for the company’s fiscal 2023 earnings is pegged at $13.41 and suggests year-over-year growth of 13.4%. The consensus mark has moved up 1.3% over the past 60 days. AGCO has a trailing four-quarter earnings surprise of 13.4%, on average. The company has an estimated long-term earnings growth rate of 10.6%. This Duluth, GA-based leading manufacturer and distributor of agricultural equipment and related replacement parts currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Price & Consensus: AGCO
Deere: The company will continue to benefit from its focus on launching products equipped with advanced technologies and features that provide it with a competitive edge. Efforts to expand in precision agriculture will be a significant growth driver. Replacement demand, triggered by the need to upgrade old equipment, will continue to support its revenues. Considering that Deere also makes construction equipment, it will benefit from strong demand in the residential and non-residential construction markets. Its cost-control actions have been supporting margins despite the persistent inflationary pressures, leading to its 26% share price gain over the past year.
The Zacks Consensus Estimate for the Moline, IL-based company’s fiscal 2023 earnings has moved up 0.3% over the past 60 days and is pegged at $28.11. The estimate implies year-over-year growth of 20.8%. DE has a trailing four-quarter earnings surprise of 4.7%, on average. Deere has an estimated long-term earnings growth rate of 11.9% and currently carries a Zacks Rank #3 (Hold).
Price & Consensus: DE
Lindsay: Lindsay’s irrigation equipment is expected to benefit from higher agricultural commodity prices and favorable farm fundamentals. Increased concerns around food security will drive growth in the international irrigation markets. Lindsay is benefiting from increased selling prices and higher unit sales volumes in the United States. This has contributed to the 19.7% gain in its share price over the past year. The company’s infrastructure business is positioned to grow on strong momentum in Road Zipper System in the future. The business is well-poised for growth in the long run, backed by strong demand for transportation safety products and higher infrastructure spending. A strong balance sheet, and a focus on introducing technologically advanced products and acquisitions will aid the company’s growth.
The Zacks Consensus Estimate for the company’s earnings for fiscal 2023 is pegged at $6.95 per share, suggesting a year-over-year improvement of 9.5%. The estimate moved up 0.1% over the last 60 days. It has a trailing four-quarter earnings surprise of 18.8%, on average. LNN currently carries a Zacks Rank #3.
Price & Consensus: LNN
Titan International: The company’s agriculture and earthmoving construction segments have been witnessing strong sales volume growth over the past few quarters, which has been instrumental in its share price gain of 43% in the past year. Farm commodity prices and the necessity to replace old equipment continue to support improved order levels for the agricultural segment. The earthmoving and construction end markets look promising, with increased infrastructure, an upbeat mining sector and ramped-up construction activities acting as the key catalysts. The segment’s margins have been reflecting improved production efficiencies stemming from management actions taken to improve profitability for the long term. Its continued cost reduction and cash preservation measures position it well for growth.
The Zacks Consensus Estimate for the company’s earnings for fiscal 2023 is pegged at $2.34 per share, suggesting a year-over-year improvement of 5.6%. It has a trailing four-quarter earnings surprise of 49.6%, on average. TWI currently carries a Zacks Rank #3.
Price & Consensus: TWI
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The world is increasingly focused on eliminating fossil fuels and ramping up use of renewable, clean energy sources. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries.
Our urgent special report reveals 4 hydrogen stocks primed for big gains - plus our other top clean energy stocks.
See Stocks Now
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
Lindsay Corporation (LNN) : Free Stock Analysis Report
AGCO Corporation (AGCO) : Free Stock Analysis Report
Titan International, Inc. (TWI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Demand continues to grow for popular features, which include automatic guide machines in the field and equipment that plants seeds, and applies chemicals and fertilizers with exceptional accuracy. Price & Consensus: AGCO Deere: The company will continue to benefit from its focus on launching products equipped with advanced technologies and features that provide it with a competitive edge. Players like Deere & Company DE, AGCO Corporation AGCO, Lindsay Corporation LNN and Titan International, Inc. TWI are well-poised to gain from cost-control efforts and their efforts to bring technologically advanced products to the market.
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Players like Deere & Company DE, AGCO Corporation AGCO, Lindsay Corporation LNN and Titan International, Inc. TWI are well-poised to gain from cost-control efforts and their efforts to bring technologically advanced products to the market. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Lindsay Corporation (LNN) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Titan International, Inc. (TWI) : Free Stock Analysis Report To read this article on Zacks.com click here. These include tractors, combines, cotton pickers and harvesting equipment; tillage, seeding and application equipment, consisting of sprayers, nutrient management and soil preparation machinery; and hay and forage equipment, comprising self-propelled forage harvesters and attachments, balers, and mowers.
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Zacks Industry Rank Indicates Bright Prospects The Zacks Manufacturing - Farm Equipment industry is part of the broader Zacks Industrial Products sector. Players like Deere & Company DE, AGCO Corporation AGCO, Lindsay Corporation LNN and Titan International, Inc. TWI are well-poised to gain from cost-control efforts and their efforts to bring technologically advanced products to the market. These include tractors, combines, cotton pickers and harvesting equipment; tillage, seeding and application equipment, consisting of sprayers, nutrient management and soil preparation machinery; and hay and forage equipment, comprising self-propelled forage harvesters and attachments, balers, and mowers.
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Players like Deere & Company DE, AGCO Corporation AGCO, Lindsay Corporation LNN and Titan International, Inc. TWI are well-poised to gain from cost-control efforts and their efforts to bring technologically advanced products to the market. These include tractors, combines, cotton pickers and harvesting equipment; tillage, seeding and application equipment, consisting of sprayers, nutrient management and soil preparation machinery; and hay and forage equipment, comprising self-propelled forage harvesters and attachments, balers, and mowers. Some of these companies produce turf and utility equipment, consisting of riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, commercial mowing equipment, and garden tillers and snow throwers.
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301eaee7-9aaf-4cdc-b99b-8b1924c35001
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720757.0
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2023-02-22 00:00:00 UTC
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Validea Guru Fundamental Report for DE - 2/22/2023
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DE
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https://www.nasdaq.com/articles/validea-guru-fundamental-report-for-de-2-22-2023
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nan
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nan
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Below is Validea's daily guru fundamental report for DEERE & COMPANY (DE). Of the 22 guru strategies we follow, DE rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental momentum and price momentum.
DEERE & COMPANY (DE) is a large-cap growth stock in the Constr. & Agric. Machinery industry. The rating using this strategy is 94% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
FUNDAMENTAL MOMENTUM: PASS
TWELVE MINUS ONE MOMENTUM: PASS
FINAL RANK: PASS
Detailed Analysis of DEERE & COMPANY
DE Guru Analysis
DE Fundamental Analysis
Dashan Huang Portfolio
About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. His paper "Twin Momentum" looked at combining traditional price momentum with improving fundamentals to generate market outperformance. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure. He showed that stocks in the top 20% of the universe according to that measure outperformed the market going forward. When he combined that measure with price momentum, he was able to double its outperformance.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Below is Validea's daily guru fundamental report for DEERE & COMPANY (DE). The rating using this strategy is 94% based on the firm’s underlying fundamentals and the stock’s valuation. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig.
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Of the 22 guru strategies we follow, DE rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis Dashan Huang Portfolio About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure.
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Of the 22 guru strategies we follow, DE rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis Dashan Huang Portfolio About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure.
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Below is Validea's daily guru fundamental report for DEERE & COMPANY (DE). Of the 22 guru strategies we follow, DE rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental momentum and price momentum.
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a480d740-5531-4d4d-a9f7-904de18371c9
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720758.0
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2023-02-22 00:00:00 UTC
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Lincoln Electric (LECO) Q4 Earnings & Sales Beat, Rise Y/Y
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DE
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https://www.nasdaq.com/articles/lincoln-electric-leco-q4-earnings-sales-beat-rise-y-y
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nan
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Lincoln Electric Holdings, Inc. LECO reported fourth-quarter 2022 record adjusted earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.90. The bottom line increased 21% year over year.
Including one-time items, the bottom line was a record $1.87 per share compared with $1.25 in the prior-year quarter.
Total revenues increased 10.3% year over year to a record $931 million. The improvement in revenues can be attributed to 14.3% growth in organic sales and a 0.7% benefit from acquisitions. These were partly offset by unfavorable foreign currency exchange of 4.7%. The top line surpassed the Zacks Consensus Estimate of $927 million.
Costs and Margins
The cost of goods sold rose 9% to $623 million from the prior-year quarter. The gross profit increased 13.1% to $308 million. The gross margin came in at 33.1% compared with the year-ago quarter’s 32.3%.
Selling, general and administrative expenses increased 8.9% year over year to $164 million. The adjusted operating profit increased 20.2% to $147 million in the quarter. The adjusted operating margin was 15.8% in the reported quarter compared with 14.5% in the year-ago quarter.
Lincoln Electric Holdings, Inc. Price, Consensus and EPS Surprise
Lincoln Electric Holdings, Inc. price-consensus-eps-surprise-chart | Lincoln Electric Holdings, Inc. Quote
Segmental Performance
Americas Welding: The segment’s sales increased to $574 million from $480 million in the year-earlier quarter. Adjusted operating income totaled $114 million compared with $84 million witnessed in the prior-year quarter.
International Welding: This segment’s revenues decreased 1% year over year to $243 million in the reported quarter. The segment reported an adjusted operating profit of $23 million compared with the year-ago quarter’s $28 million.
The Harris Products Group: The segment’s fourth-quarter sales amounted to around $114 million, reflecting a year-over-year decline of 3.5%. Adjusted operating profit was $12 million compared with the prior-year quarter’s $16 million.
Financial Update
Lincoln Electric had cash and cash equivalents of around $197 million at the end of 2022 compared with $193 million at 2021-end. The company generated $383 million cash flow from operations in 2022 compared with $365 million in 2021.
The company’s debt to invested capital was 53.8% in 2022 compared with 47.1% in 2021.
2022 Performance
Lincoln Electric reported adjusted earnings per share (EPS) of a record $8.27 in 2022 compared with $6.22 in the prior year. Earnings beat the Zacks Consensus Estimate of $8.22. Including one-time items, the bottom line was a record $8.04, up 75% from the $4.60 reported in 2021.
Sales were up 16.3% year over year to a record $3.76 billion. The top line was in line with the Zacks Consensus Estimate.
Price Performance
Lincoln Electric’s shares have gained 28.3% in the past year against the industry’s fall of 22.1%.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
Lincoln Electric currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS flaunt a Zacks Rank #1 (Strong Buy) at present, and DE has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.51 per share. This indicates a 9.13% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 12.5% north in the past 60 days. OI’s shares gained 66.3% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $5.32 per share. This indicates a 22.4% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 2.7% in the past 60 days. Its shares gained 36.8% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 0.6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 7.1%. Its shares gained 20.7% in the last year.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
O-I Glass, Inc. (OI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Lincoln Electric Holdings, Inc. (LECO) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. International Welding: This segment’s revenues decreased 1% year over year to $243 million in the reported quarter. The Harris Products Group: The segment’s fourth-quarter sales amounted to around $114 million, reflecting a year-over-year decline of 3.5%.
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Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Lincoln Electric Holdings, Inc. (LECO) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. International Welding: This segment’s revenues decreased 1% year over year to $243 million in the reported quarter. The Harris Products Group: The segment’s fourth-quarter sales amounted to around $114 million, reflecting a year-over-year decline of 3.5%.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Lincoln Electric Holdings, Inc. (LECO) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. International Welding: This segment’s revenues decreased 1% year over year to $243 million in the reported quarter.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. International Welding: This segment’s revenues decreased 1% year over year to $243 million in the reported quarter. The Harris Products Group: The segment’s fourth-quarter sales amounted to around $114 million, reflecting a year-over-year decline of 3.5%.
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2023-02-21 00:00:00 UTC
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John Deere Beats on Q1 Earnings, Raises View: 5 ETFs to Buy
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https://www.nasdaq.com/articles/john-deere-beats-on-q1-earnings-raises-view%3A-5-etfs-to-buy-0
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Before the opening bell on Feb 17, the world’s largest agricultural equipment maker under the iconic John Deere brand, Deere & Co DE, reported robust first-quarter fiscal 2023 results, beating estimates on both the top and bottom lines. The company offered a bullish outlook for the fiscal year.
As a result, shares of Deere climbed 7.5% on the day. Investors could easily tap the strength through ETFs with the largest allocation to this farm equipment giant. These funds — iShares MSCI Agriculture Producers ETF VEGI, First Trust Indxx Global Agriculture ETF FTAG, VanEck Agribusiness ETF MOO, VanEck Natural Resources ETF HAP and VanEck Future of Food ETF YUMY — seem compelling choices to play the earnings strength.
Earnings per share came in at $6.55, well above the Zacks Consensus Estimate of $5.53 and up a whopping 124% from year-ago earnings. Equipment revenues increased 34% year over year to $11.7 billion and beat the Zacks Consensus Estimate of $11.3 billion. Robust results were fueled by strong demand for its high-horsepower tractors and an uptick in spending from construction customers (read: 4 ETFs to Tap on Solid Q4 GDP Numbers).
The farm equipment giant is looking forward to another strong year on the basis of positive fundamentals, low machine inventories, and a continuation of solid execution. For fiscal 2023, the company guided net income of $8.75-$9.25 billion.
Production and precision agriculture sales are projected to grow 20% as farmers focus on wasting as little of their inputs as possible amid rising prices. Construction and forestry sales are expected to grow 10-15% and small agriculture and turf equipment sales are likely to grow as much as 5%. The construction and forestry division is benefiting from healthy demand, with order books full into the fourth quarter.
iShares MSCI Global Agriculture Producers ETF (VEGI)
iShares MSCI Agriculture Producers ETF provides global exposure to the companies that produce fertilizers and agricultural chemicals, farm machinery, packaged foods and meats by tracking the MSCI ACWI Select Agriculture Producers Investable Market Index. Holding 162 stocks in its basket, Deere takes the top spot at 21.9% share. American firms account for 60% of the assets, while Canada, Norway and Japan round off the next three spots.
iShares MSCI Agriculture Producers ETF is less popular and illiquid, with $284.5 million in AUM and around 72,000 shares in an average daily volume. It charges 39 bps in fees per year from investors (see: all Materials ETFs here).
First Trust Indxx Global Agriculture ETF (FTAG)
First Trust Indxx Global Agriculture ETF follows the Indxx Global Agriculture Index, which is a market-capitalization weighted index designed to measure the performance of companies, directly or indirectly engaged in improving agricultural yields. It holds 51 stocks in its basket, with John Deere occupying the second position at 9.5%. From the perspective of industrial exposure, materials takes the largest share at 52.4%, followed by 27.7% in industrials and 10.3% in healthcare. Here again, the United States is the top country with a 32.8% share, while Germany takes a 19.3% share.
First Trust Indxx Global Agriculture ETF is an overlooked ETF, having accumulated $23.9 million in AUM and trading in an average daily volume of about 4,000 shares. It charges 70 bps in annual fees.
VanEck Vectors Agribusiness ETF (MOO)
VanEck Agribusiness ETF is by far the most popular choice in the space, with an AUM of about $1.3 billion and an average daily volume of 80,000 shares. It tracks the MVIS Global Agribusiness Index, which offers exposure to companies, involved in agri-chemicals, animal health and fertilizers, seeds and traits, farm/irrigation equipment and farm machinery, aquaculture and fishing, livestock, cultivation and plantations, and trading of agricultural products.
VanEck Agribusiness ETF holds 52 securities in its basket, with John Deere capturing the third position with a 7.4% share. It charges 52 bps in annual fees.
VanEck Vectors Natural Resources ETF (HAP)
With AUM of $144.8 million, VanEck Natural Resources ETF offers exposure to companies that are involved in the production and distribution of commodities and commodity-related products and services in the following sectors — Agriculture, Alternatives (Water & Alternative Energy), Base and Industrial Metals, Energy, Forest Products, and Precious Metals. It tracks the VanEck Natural Resources Index, holding 430 stocks in its basket. John Deere takes the top spot at 5.5% of the assets. Here too, American firms dominate the portfolio with nearly 48.5% share, and materials is the top sector with 36.6%.
VanEck Natural Resources ETF charges 49 bps in annual fees and trades in an average daily volume of 14,000 shares (read: ETF Laggards of 2022 That Are Leading This Year).
VanEck Future of Food ETF (YUMY)
VanEck Future of Food ETF is an actively managed ETF that seeks long-term capital appreciation by investing in companies engaged in Agri-Food technology and innovation which encompasses industries and companies that are leading, enabling, supplying, disrupting, or benefiting from new environmentally sustainable agriculture and food products and services. It holds 39 stocks in its basket, with Deere taking the second spot at 5.5%. American firms dominate the portfolio with a 55.7% share.
VanEck Future of Food ETF has been able to manage $3.7 million in its asset base while trading in a volume of 1,000 shares per day on average. It charges 69 bps in fees per year.
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Deere & Company (DE) : Free Stock Analysis Report
VanEck Agribusiness ETF (MOO): ETF Research Reports
iShares MSCI Agriculture Producers ETF (VEGI): ETF Research Reports
VanEck Natural Resources ETF (HAP): ETF Research Reports
First Trust Indxx Global Agriculture ETF (FTAG): ETF Research Reports
VanEck Future of Food ETF (YUMY): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Robust results were fueled by strong demand for its high-horsepower tractors and an uptick in spending from construction customers (read: 4 ETFs to Tap on Solid Q4 GDP Numbers). It tracks the MVIS Global Agribusiness Index, which offers exposure to companies, involved in agri-chemicals, animal health and fertilizers, seeds and traits, farm/irrigation equipment and farm machinery, aquaculture and fishing, livestock, cultivation and plantations, and trading of agricultural products. Before the opening bell on Feb 17, the world’s largest agricultural equipment maker under the iconic John Deere brand, Deere & Co DE, reported robust first-quarter fiscal 2023 results, beating estimates on both the top and bottom lines.
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iShares MSCI Agriculture Producers ETF provides global exposure to the companies that produce fertilizers and agricultural chemicals, farm machinery, packaged foods and meats by tracking the MSCI ACWI Select Agriculture Producers Investable Market Index. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report VanEck Agribusiness ETF (MOO): ETF Research Reports iShares MSCI Agriculture Producers ETF (VEGI): ETF Research Reports VanEck Natural Resources ETF (HAP): ETF Research Reports First Trust Indxx Global Agriculture ETF (FTAG): ETF Research Reports VanEck Future of Food ETF (YUMY): ETF Research Reports To read this article on Zacks.com click here. Before the opening bell on Feb 17, the world’s largest agricultural equipment maker under the iconic John Deere brand, Deere & Co DE, reported robust first-quarter fiscal 2023 results, beating estimates on both the top and bottom lines.
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VanEck Natural Resources ETF charges 49 bps in annual fees and trades in an average daily volume of 14,000 shares (read: ETF Laggards of 2022 That Are Leading This Year). Click to get this free report Deere & Company (DE) : Free Stock Analysis Report VanEck Agribusiness ETF (MOO): ETF Research Reports iShares MSCI Agriculture Producers ETF (VEGI): ETF Research Reports VanEck Natural Resources ETF (HAP): ETF Research Reports First Trust Indxx Global Agriculture ETF (FTAG): ETF Research Reports VanEck Future of Food ETF (YUMY): ETF Research Reports To read this article on Zacks.com click here. Before the opening bell on Feb 17, the world’s largest agricultural equipment maker under the iconic John Deere brand, Deere & Co DE, reported robust first-quarter fiscal 2023 results, beating estimates on both the top and bottom lines.
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Click to get this free report Deere & Company (DE) : Free Stock Analysis Report VanEck Agribusiness ETF (MOO): ETF Research Reports iShares MSCI Agriculture Producers ETF (VEGI): ETF Research Reports VanEck Natural Resources ETF (HAP): ETF Research Reports First Trust Indxx Global Agriculture ETF (FTAG): ETF Research Reports VanEck Future of Food ETF (YUMY): ETF Research Reports To read this article on Zacks.com click here. Before the opening bell on Feb 17, the world’s largest agricultural equipment maker under the iconic John Deere brand, Deere & Co DE, reported robust first-quarter fiscal 2023 results, beating estimates on both the top and bottom lines. As a result, shares of Deere climbed 7.5% on the day.
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2023-02-21 00:00:00 UTC
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John Deere Beats on Q1 Earnings, Raises View: 5 ETFs to Buy
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DE
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https://www.nasdaq.com/articles/john-deere-beats-on-q1-earnings-raises-view%3A-5-etfs-to-buy
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nan
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Before the opening bell on Feb 17, the world’s largest agricultural equipment maker under the iconic John Deere brand, Deere & Co DE, reported robust first-quarter fiscal 2023 results, beating estimates on both the top and bottom lines. The company offered a bullish outlook for the fiscal year.
As a result, shares of Deere climbed 7.5% on the day. Investors could easily tap the strength through ETFs with the largest allocation to this farm equipment giant. These funds — iShares MSCI Agriculture Producers ETF VEGI, First Trust Indxx Global Agriculture ETF FTAG, VanEck Agribusiness ETF MOO, VanEck Natural Resources ETF HAP and VanEck Future of Food ETF YUMY — seem compelling choices to play the earnings strength.
Earnings per share came in at $6.55, well above the Zacks Consensus Estimate of $5.53 and up a whopping 124% from year-ago earnings. Equipment revenues increased 34% year over year to $11.7 billion and beat the Zacks Consensus Estimate of $11.3 billion. Robust results were fueled by strong demand for its high-horsepower tractors and an uptick in spending from construction customers (read: 4 ETFs to Tap on Solid Q4 GDP Numbers).
The farm equipment giant is looking forward to another strong year on the basis of positive fundamentals, low machine inventories, and a continuation of solid execution. For fiscal 2023, the company guided net income of $8.75-$9.25 billion.
Production and precision agriculture sales are projected to grow 20% as farmers focus on wasting as little of their inputs as possible amid rising prices. Construction and forestry sales are expected to grow 10-15% and small agriculture and turf equipment sales are likely to grow as much as 5%. The construction and forestry division is benefiting from healthy demand, with order books full into the fourth quarter.
iShares MSCI Global Agriculture Producers ETF (VEGI)
iShares MSCI Agriculture Producers ETF provides global exposure to the companies that produce fertilizers and agricultural chemicals, farm machinery, packaged foods and meats by tracking the MSCI ACWI Select Agriculture Producers Investable Market Index. Holding 162 stocks in its basket, Deere takes the top spot at 21.9% share. American firms account for 60% of the assets, while Canada, Norway and Japan round off the next three spots.
iShares MSCI Agriculture Producers ETF is less popular and illiquid, with $284.5 million in AUM and around 72,000 shares in an average daily volume. It charges 39 bps in fees per year from investors (see: all Materials ETFs here).
First Trust Indxx Global Agriculture ETF (FTAG)
First Trust Indxx Global Agriculture ETF follows the Indxx Global Agriculture Index, which is a market-capitalization weighted index designed to measure the performance of companies, directly or indirectly engaged in improving agricultural yields. It holds 51 stocks in its basket, with John Deere occupying the second position at 9.5%. From the perspective of industrial exposure, materials takes the largest share at 52.4%, followed by 27.7% in industrials and 10.3% in healthcare. Here again, the United States is the top country with a 32.8% share, while Germany takes a 19.3% share.
First Trust Indxx Global Agriculture ETF is an overlooked ETF, having accumulated $23.9 million in AUM and trading in an average daily volume of about 4,000 shares. It charges 70 bps in annual fees.
VanEck Vectors Agribusiness ETF (MOO)
VanEck Agribusiness ETF is by far the most popular choice in the space, with an AUM of about $1.3 billion and an average daily volume of 80,000 shares. It tracks the MVIS Global Agribusiness Index, which offers exposure to companies, involved in agri-chemicals, animal health and fertilizers, seeds and traits, farm/irrigation equipment and farm machinery, aquaculture and fishing, livestock, cultivation and plantations, and trading of agricultural products.
VanEck Agribusiness ETF holds 52 securities in its basket, with John Deere capturing the third position with a 7.4% share. It charges 52 bps in annual fees.
VanEck Vectors Natural Resources ETF (HAP)
With AUM of $144.8 million, VanEck Natural Resources ETF offers exposure to companies that are involved in the production and distribution of commodities and commodity-related products and services in the following sectors — Agriculture, Alternatives (Water & Alternative Energy), Base and Industrial Metals, Energy, Forest Products, and Precious Metals. It tracks the VanEck Natural Resources Index, holding 430 stocks in its basket. John Deere takes the top spot at 5.5% of the assets. Here too, American firms dominate the portfolio with nearly 48.5% share, and materials is the top sector with 36.6%.
VanEck Natural Resources ETF charges 49 bps in annual fees and trades in an average daily volume of 14,000 shares (read: ETF Laggards of 2022 That Are Leading This Year).
VanEck Future of Food ETF (YUMY)
VanEck Future of Food ETF is an actively managed ETF that seeks long-term capital appreciation by investing in companies engaged in Agri-Food technology and innovation which encompasses industries and companies that are leading, enabling, supplying, disrupting, or benefiting from new environmentally sustainable agriculture and food products and services. It holds 39 stocks in its basket, with Deere taking the second spot at 5.5%. American firms dominate the portfolio with a 55.7% share.
VanEck Future of Food ETF has been able to manage $3.7 million in its asset base while trading in a volume of 1,000 shares per day on average. It charges 69 bps in fees per year.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
VanEck Agribusiness ETF (MOO): ETF Research Reports
iShares MSCI Agriculture Producers ETF (VEGI): ETF Research Reports
VanEck Natural Resources ETF (HAP): ETF Research Reports
First Trust Indxx Global Agriculture ETF (FTAG): ETF Research Reports
VanEck Future of Food ETF (YUMY): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Robust results were fueled by strong demand for its high-horsepower tractors and an uptick in spending from construction customers (read: 4 ETFs to Tap on Solid Q4 GDP Numbers). It tracks the MVIS Global Agribusiness Index, which offers exposure to companies, involved in agri-chemicals, animal health and fertilizers, seeds and traits, farm/irrigation equipment and farm machinery, aquaculture and fishing, livestock, cultivation and plantations, and trading of agricultural products. Before the opening bell on Feb 17, the world’s largest agricultural equipment maker under the iconic John Deere brand, Deere & Co DE, reported robust first-quarter fiscal 2023 results, beating estimates on both the top and bottom lines.
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iShares MSCI Agriculture Producers ETF provides global exposure to the companies that produce fertilizers and agricultural chemicals, farm machinery, packaged foods and meats by tracking the MSCI ACWI Select Agriculture Producers Investable Market Index. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report VanEck Agribusiness ETF (MOO): ETF Research Reports iShares MSCI Agriculture Producers ETF (VEGI): ETF Research Reports VanEck Natural Resources ETF (HAP): ETF Research Reports First Trust Indxx Global Agriculture ETF (FTAG): ETF Research Reports VanEck Future of Food ETF (YUMY): ETF Research Reports To read this article on Zacks.com click here. Before the opening bell on Feb 17, the world’s largest agricultural equipment maker under the iconic John Deere brand, Deere & Co DE, reported robust first-quarter fiscal 2023 results, beating estimates on both the top and bottom lines.
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VanEck Natural Resources ETF charges 49 bps in annual fees and trades in an average daily volume of 14,000 shares (read: ETF Laggards of 2022 That Are Leading This Year). Click to get this free report Deere & Company (DE) : Free Stock Analysis Report VanEck Agribusiness ETF (MOO): ETF Research Reports iShares MSCI Agriculture Producers ETF (VEGI): ETF Research Reports VanEck Natural Resources ETF (HAP): ETF Research Reports First Trust Indxx Global Agriculture ETF (FTAG): ETF Research Reports VanEck Future of Food ETF (YUMY): ETF Research Reports To read this article on Zacks.com click here. Before the opening bell on Feb 17, the world’s largest agricultural equipment maker under the iconic John Deere brand, Deere & Co DE, reported robust first-quarter fiscal 2023 results, beating estimates on both the top and bottom lines.
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Click to get this free report Deere & Company (DE) : Free Stock Analysis Report VanEck Agribusiness ETF (MOO): ETF Research Reports iShares MSCI Agriculture Producers ETF (VEGI): ETF Research Reports VanEck Natural Resources ETF (HAP): ETF Research Reports First Trust Indxx Global Agriculture ETF (FTAG): ETF Research Reports VanEck Future of Food ETF (YUMY): ETF Research Reports To read this article on Zacks.com click here. Before the opening bell on Feb 17, the world’s largest agricultural equipment maker under the iconic John Deere brand, Deere & Co DE, reported robust first-quarter fiscal 2023 results, beating estimates on both the top and bottom lines. As a result, shares of Deere climbed 7.5% on the day.
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2023-02-21 00:00:00 UTC
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Manitowoc (MTW) Earnings Surpass Estimates in Q4, Rise Y/Y
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https://www.nasdaq.com/articles/manitowoc-mtw-earnings-surpass-estimates-in-q4-rise-y-y
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The Manitowoc Company, Inc. MTW reported adjusted earnings per share (EPS) of 74 cents in fourth-quarter 2022, beating the Zacks Consensus Estimate of 23 cents per share. The bottom line improved 185% year over year.
Including one-time items, the company reported a loss per share of $4.10 in the quarter compared with the prior-year quarter’s loss of 10 cents per share.
Manitowoc’s revenues were up 24.9% year over year to $622 million in the quarter under review. The top line surpassed the Zacks Consensus Estimate of $562 million. Unfavorable changes in foreign currency translation rates had an impact of $31.3 million on sales.
Orders in the reported quarter increased 15.1% year over year to $708 million. Backlog at the end of 2022 was $1,056 million, up 4.5% from the 2021-end levels.
Operational Update
Cost of sales increased 20.7% year over year to $505 million in the reported quarter. Gross profit rose 46.7% year over year to $117 million. The gross margin was 18.7% in the reported quarter compared with 16% in the prior-year quarter.
Engineering, selling and administrative expenses increased 2.5% year over year to $79 million. Adjusted operating income was $36.4 million in the quarter, up 108% from $17.5 million in the prior-year quarter. Adjusted EBITDA in the reported quarter was $51.5 million, marking a year-over-year increase of 50.6%. The adjusted EBITDA margin increased to 8.3% from the year-ago quarter’s 6.9%.
The Manitowoc Company, Inc. Price, Consensus and EPS Surprise
The Manitowoc Company, Inc. price-consensus-eps-surprise-chart | The Manitowoc Company, Inc. Quote
Financial Updates
Manitowoc reported cash and cash equivalents of $64.4 million at the end of 2022, down from $75.4 million at 2021-end. Long-term debt was $379.5 million at the end of 2022, down from $399.9 million at 2021-end. The company generated $77 million of cash in operating activities in 2022 compared with cash utilization of $76 million in 2021.
2022 Performance
Manitowoc reported adjusted EPS of $1.06 in 2022 compared with 86 cents reported in the prior year. Earnings beat the Zacks Consensus Estimate of 54 cents. Including one-time items, the company reported a loss of $3.51 per share against earnings per share of 31 cents posted in 2021.
Sales were up 18.2% year over year to $2.03 billion. The top line surpassed the Zacks Consensus Estimate of $1.97 billion.
Outlook
For 2023, Manitowoc expects revenues of $2-$2.1 billion. Adjusted EBITDA is anticipated between $130 million and $160 million. Adjusted EPS is expected between 35 cents and $1.15.
Price Performance
In the past year, Manitowoc’s shares have lost 17.9% against the industry’s growth of 28%.
Image Source: Zacks Investment Research
Zacks Rank and Other Stocks to Consider
Manitowoc currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS flaunt a Zacks Rank #1 (Strong Buy) at present, and DE has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.51 per share. This indicates a 9.13% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 12.5% north in the past 60 days. OI’s shares gained 58.7% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $5.32 per share. This indicates a 22.4% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 2.7% in the past 60 days. Its shares gained 39.8% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 0.6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 7.1%. Its shares gained 5.9% in the last year.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report
O-I Glass, Inc. (OI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. Manitowoc’s revenues were up 24.9% year over year to $622 million in the quarter under review. Orders in the reported quarter increased 15.1% year over year to $708 million.
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Click to get this free report The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Manitowoc’s revenues were up 24.9% year over year to $622 million in the quarter under review. Orders in the reported quarter increased 15.1% year over year to $708 million.
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Click to get this free report The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Manitowoc’s revenues were up 24.9% year over year to $622 million in the quarter under review. Orders in the reported quarter increased 15.1% year over year to $708 million.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. Manitowoc’s revenues were up 24.9% year over year to $622 million in the quarter under review. Orders in the reported quarter increased 15.1% year over year to $708 million.
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746203b3-1723-4171-afe4-530f1819f4b4
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720762.0
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2023-02-21 00:00:00 UTC
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Noteworthy Tuesday Option Activity: TGT, DE, GS
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DE
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https://www.nasdaq.com/articles/noteworthy-tuesday-option-activity%3A-tgt-de-gs
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Target Corp (Symbol: TGT), where a total of 25,035 contracts have traded so far, representing approximately 2.5 million underlying shares. That amounts to about 93% of TGT's average daily trading volume over the past month of 2.7 million shares. Especially high volume was seen for the $182.50 strike call option expiring February 24, 2023, with 2,038 contracts trading so far today, representing approximately 203,800 underlying shares of TGT. Below is a chart showing TGT's trailing twelve month trading history, with the $182.50 strike highlighted in orange:
Deere & Co. (Symbol: DE) saw options trading volume of 14,147 contracts, representing approximately 1.4 million underlying shares or approximately 86.9% of DE's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $402.50 strike put option expiring March 03, 2023, with 507 contracts trading so far today, representing approximately 50,700 underlying shares of DE. Below is a chart showing DE's trailing twelve month trading history, with the $402.50 strike highlighted in orange:
And Goldman Sachs Group Inc (Symbol: GS) saw options trading volume of 18,223 contracts, representing approximately 1.8 million underlying shares or approximately 79.3% of GS's average daily trading volume over the past month, of 2.3 million shares. Particularly high volume was seen for the $350 strike put option expiring March 17, 2023, with 755 contracts trading so far today, representing approximately 75,500 underlying shares of GS. Below is a chart showing GS's trailing twelve month trading history, with the $350 strike highlighted in orange:
For the various different available expirations for TGT options, DE options, or GS options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Institutional Holders of APPN
ETFs Holding BFR
RRR YTD Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $182.50 strike call option expiring February 24, 2023, with 2,038 contracts trading so far today, representing approximately 203,800 underlying shares of TGT. Particularly high volume was seen for the $402.50 strike put option expiring March 03, 2023, with 507 contracts trading so far today, representing approximately 50,700 underlying shares of DE. Particularly high volume was seen for the $350 strike put option expiring March 17, 2023, with 755 contracts trading so far today, representing approximately 75,500 underlying shares of GS.
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Below is a chart showing TGT's trailing twelve month trading history, with the $182.50 strike highlighted in orange: Deere & Co. (Symbol: DE) saw options trading volume of 14,147 contracts, representing approximately 1.4 million underlying shares or approximately 86.9% of DE's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $402.50 strike put option expiring March 03, 2023, with 507 contracts trading so far today, representing approximately 50,700 underlying shares of DE. Below is a chart showing DE's trailing twelve month trading history, with the $402.50 strike highlighted in orange: And Goldman Sachs Group Inc (Symbol: GS) saw options trading volume of 18,223 contracts, representing approximately 1.8 million underlying shares or approximately 79.3% of GS's average daily trading volume over the past month, of 2.3 million shares.
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Target Corp (Symbol: TGT), where a total of 25,035 contracts have traded so far, representing approximately 2.5 million underlying shares. Below is a chart showing TGT's trailing twelve month trading history, with the $182.50 strike highlighted in orange: Deere & Co. (Symbol: DE) saw options trading volume of 14,147 contracts, representing approximately 1.4 million underlying shares or approximately 86.9% of DE's average daily trading volume over the past month, of 1.6 million shares. Below is a chart showing DE's trailing twelve month trading history, with the $402.50 strike highlighted in orange: And Goldman Sachs Group Inc (Symbol: GS) saw options trading volume of 18,223 contracts, representing approximately 1.8 million underlying shares or approximately 79.3% of GS's average daily trading volume over the past month, of 2.3 million shares.
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Below is a chart showing TGT's trailing twelve month trading history, with the $182.50 strike highlighted in orange: Deere & Co. (Symbol: DE) saw options trading volume of 14,147 contracts, representing approximately 1.4 million underlying shares or approximately 86.9% of DE's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $402.50 strike put option expiring March 03, 2023, with 507 contracts trading so far today, representing approximately 50,700 underlying shares of DE. Below is a chart showing DE's trailing twelve month trading history, with the $402.50 strike highlighted in orange: And Goldman Sachs Group Inc (Symbol: GS) saw options trading volume of 18,223 contracts, representing approximately 1.8 million underlying shares or approximately 79.3% of GS's average daily trading volume over the past month, of 2.3 million shares.
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4d3f042a-de2a-42d7-8c2e-1d7913e897a6
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720763.0
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2023-02-21 00:00:00 UTC
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Company News for Feb 21, 2023
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DE
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https://www.nasdaq.com/articles/company-news-for-feb-21-2023
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nan
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nan
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Consolidated Edison Inc.’s ED shares rose 1.7% after the company reported fourth-quarter 2022 adjusted earnings per share of $0.81, surpassing the Zacks Consensus Estimate of $0.78.
HubSpot Inc.’s HUBS shares jumped 11.8% after the company posted fourth-quarter 2022 adjusted earnings per share of $1.11, outpacing the Zacks Consensus Estimate of $0.83.
Shares of Digital Realty Trust Inc. DLR fell 1.9% after posting fourth-quarter 2022 adjusted fund from operation per share of $1.65, missing the Zacks Consensus Estimate of $1.68.
Shares of Deere & Co. DE climbed 7.5% after reporting first-quarter fiscal 2023 adjusted earnings per share of $6.55, beating the Zacks Consensus Estimate of $5.53.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Consolidated Edison Inc (ED) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report
HubSpot, Inc. (HUBS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Deere & Co. DE climbed 7.5% after reporting first-quarter fiscal 2023 adjusted earnings per share of $6.55, beating the Zacks Consensus Estimate of $5.53. Just Released: Zacks Top 10 Stocks for 2023 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023? Click to get this free report Consolidated Edison Inc (ED) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report HubSpot, Inc. (HUBS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Click to get this free report Consolidated Edison Inc (ED) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report HubSpot, Inc. (HUBS) : Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Deere & Co. DE climbed 7.5% after reporting first-quarter fiscal 2023 adjusted earnings per share of $6.55, beating the Zacks Consensus Estimate of $5.53. Just Released: Zacks Top 10 Stocks for 2023 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
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Click to get this free report Consolidated Edison Inc (ED) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report HubSpot, Inc. (HUBS) : Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Deere & Co. DE climbed 7.5% after reporting first-quarter fiscal 2023 adjusted earnings per share of $6.55, beating the Zacks Consensus Estimate of $5.53. Just Released: Zacks Top 10 Stocks for 2023 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
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Just Released: Zacks Top 10 Stocks for 2023 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023? Shares of Deere & Co. DE climbed 7.5% after reporting first-quarter fiscal 2023 adjusted earnings per share of $6.55, beating the Zacks Consensus Estimate of $5.53. Click to get this free report Consolidated Edison Inc (ED) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report HubSpot, Inc. (HUBS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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bb8867e8-5258-4445-8e9e-5cb999317184
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720764.0
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2023-02-21 00:00:00 UTC
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Is Most-Watched Stock Deere & Company (DE) Worth Betting on Now?
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DE
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https://www.nasdaq.com/articles/is-most-watched-stock-deere-company-de-worth-betting-on-now-1
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nan
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nan
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Deere (DE) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Shares of this agricultural equipment manufacturer have returned +5.9% over the past month versus the Zacks S&P 500 composite's +2.9% change. The Zacks Manufacturing - Farm Equipment industry, to which Deere belongs, has gained 5.2% over this period. Now the key question is: Where could the stock be headed in the near term?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate Revisions
Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, Deere is expected to post earnings of $8.11 per share, indicating a change of +19.1% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.2% over the last 30 days.
The consensus earnings estimate of $28.08 for the current fiscal year indicates a year-over-year change of +20.6%. This estimate has changed +0.3% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $29.34 indicates a change of +4.5% from what Deere is expected to report a year ago. Over the past month, the estimate has changed +0.3%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Deere is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue Growth
While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
In the case of Deere, the consensus sales estimate of $14.61 billion for the current quarter points to a year-over-year change of +21.5%. The $53.79 billion and $54.72 billion estimates for the current and next fiscal years indicate changes of +12.3% and +1.7%, respectively.
Last Reported Results and Surprise History
Deere reported revenues of $11.4 billion in the last reported quarter, representing a year-over-year change of +33.7%. EPS of $6.55 for the same period compares with $2.92 a year ago.
Compared to the Zacks Consensus Estimate of $11.31 billion, the reported revenues represent a surprise of +0.84%. The EPS surprise was +18.44%.
Over the last four quarters, Deere surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.
Valuation
No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Deere is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Conclusion
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Deere. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. Conclusion The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Deere. Deere (DE) has been one of the most searched-for stocks on Zacks.com lately.
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Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance. While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price. Deere (DE) has been one of the most searched-for stocks on Zacks.com lately.
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Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Deere is rated Zacks Rank #3 (Hold). While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price. Deere (DE) has been one of the most searched-for stocks on Zacks.com lately.
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Deere (DE) has been one of the most searched-for stocks on Zacks.com lately. The Zacks Manufacturing - Farm Equipment industry, to which Deere belongs, has gained 5.2% over this period. Now the key question is: Where could the stock be headed in the near term?
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65298642-4ad1-4de5-b6a1-15d856a359b6
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720765.0
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2023-02-21 00:00:00 UTC
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Manitowoc (MTW) Earnings Surpass Estimates in Q4, Rise Y/Y
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DE
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https://www.nasdaq.com/articles/manitowoc-mtw-earnings-surpass-estimates-in-q4-rise-y-y-0
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nan
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The Manitowoc Company, Inc. MTW reported adjusted earnings per share (EPS) of 74 cents in fourth-quarter 2022, beating the Zacks Consensus Estimate of 23 cents per share. The bottom line improved 185% year over year.
Including one-time items, the company reported a loss per share of $4.10 in the quarter compared with the prior-year quarter’s loss of 10 cents per share.
Manitowoc’s revenues were up 24.9% year over year to $622 million in the quarter under review. The top line surpassed the Zacks Consensus Estimate of $562 million. Unfavorable changes in foreign currency translation rates had an impact of $31.3 million on sales.
Orders in the reported quarter increased 15.1% year over year to $708 million. Backlog at the end of 2022 was $1,056 million, up 4.5% from the 2021-end levels.
Operational Update
Cost of sales increased 20.7% year over year to $505 million in the reported quarter. Gross profit rose 46.7% year over year to $117 million. The gross margin was 18.7% in the reported quarter compared with 16% in the prior-year quarter.
Engineering, selling and administrative expenses increased 2.5% year over year to $79 million. Adjusted operating income was $36.4 million in the quarter, up 108% from $17.5 million in the prior-year quarter. Adjusted EBITDA in the reported quarter was $51.5 million, marking a year-over-year increase of 50.6%. The adjusted EBITDA margin increased to 8.3% from the year-ago quarter’s 6.9%.
The Manitowoc Company, Inc. Price, Consensus and EPS Surprise
The Manitowoc Company, Inc. price-consensus-eps-surprise-chart | The Manitowoc Company, Inc. Quote
Financial Updates
Manitowoc reported cash and cash equivalents of $64.4 million at the end of 2022, down from $75.4 million at 2021-end. Long-term debt was $379.5 million at the end of 2022, down from $399.9 million at 2021-end. The company generated $77 million of cash in operating activities in 2022 compared with cash utilization of $76 million in 2021.
2022 Performance
Manitowoc reported adjusted EPS of $1.06 in 2022 compared with 86 cents reported in the prior year. Earnings beat the Zacks Consensus Estimate of 54 cents. Including one-time items, the company reported a loss of $3.51 per share against earnings per share of 31 cents posted in 2021.
Sales were up 18.2% year over year to $2.03 billion. The top line surpassed the Zacks Consensus Estimate of $1.97 billion.
Outlook
For 2023, Manitowoc expects revenues of $2-$2.1 billion. Adjusted EBITDA is anticipated between $130 million and $160 million. Adjusted EPS is expected between 35 cents and $1.15.
Price Performance
In the past year, Manitowoc’s shares have lost 17.9% against the industry’s growth of 28%.
Image Source: Zacks Investment Research
Zacks Rank and Other Stocks to Consider
Manitowoc currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Industrial Products sector are OI Glass OI, Tenaris TS and Deere & Company DE. OI and TS flaunt a Zacks Rank #1 (Strong Buy) at present, and DE has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.51 per share. This indicates a 9.13% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 12.5% north in the past 60 days. OI’s shares gained 58.7% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $5.32 per share. This indicates a 22.4% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 2.7% in the past 60 days. Its shares gained 39.8% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 0.6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 7.1%. Its shares gained 5.9% in the last year.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report
O-I Glass, Inc. (OI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. Manitowoc’s revenues were up 24.9% year over year to $622 million in the quarter under review. Orders in the reported quarter increased 15.1% year over year to $708 million.
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Click to get this free report The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Manitowoc’s revenues were up 24.9% year over year to $622 million in the quarter under review. Orders in the reported quarter increased 15.1% year over year to $708 million.
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Click to get this free report The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Manitowoc’s revenues were up 24.9% year over year to $622 million in the quarter under review. Orders in the reported quarter increased 15.1% year over year to $708 million.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported in the last year. Manitowoc’s revenues were up 24.9% year over year to $622 million in the quarter under review. Orders in the reported quarter increased 15.1% year over year to $708 million.
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67ebb18f-6771-41fd-9578-ba8657d1df58
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720766.0
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2023-02-21 00:00:00 UTC
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Company News for Feb 21, 2023
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DE
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https://www.nasdaq.com/articles/company-news-for-feb-21-2023-0
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nan
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nan
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Consolidated Edison Inc.’s ED shares rose 1.7% after the company reported fourth-quarter 2022 adjusted earnings per share of $0.81, surpassing the Zacks Consensus Estimate of $0.78.
HubSpot Inc.’s HUBS shares jumped 11.8% after the company posted fourth-quarter 2022 adjusted earnings per share of $1.11, outpacing the Zacks Consensus Estimate of $0.83.
Shares of Digital Realty Trust Inc. DLR fell 1.9% after posting fourth-quarter 2022 adjusted fund from operation per share of $1.65, missing the Zacks Consensus Estimate of $1.68.
Shares of Deere & Co. DE climbed 7.5% after reporting first-quarter fiscal 2023 adjusted earnings per share of $6.55, beating the Zacks Consensus Estimate of $5.53.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Consolidated Edison Inc (ED) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report
HubSpot, Inc. (HUBS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Deere & Co. DE climbed 7.5% after reporting first-quarter fiscal 2023 adjusted earnings per share of $6.55, beating the Zacks Consensus Estimate of $5.53. Just Released: Zacks Top 10 Stocks for 2023 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023? Click to get this free report Consolidated Edison Inc (ED) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report HubSpot, Inc. (HUBS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Click to get this free report Consolidated Edison Inc (ED) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report HubSpot, Inc. (HUBS) : Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Deere & Co. DE climbed 7.5% after reporting first-quarter fiscal 2023 adjusted earnings per share of $6.55, beating the Zacks Consensus Estimate of $5.53. Just Released: Zacks Top 10 Stocks for 2023 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
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Click to get this free report Consolidated Edison Inc (ED) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report HubSpot, Inc. (HUBS) : Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Deere & Co. DE climbed 7.5% after reporting first-quarter fiscal 2023 adjusted earnings per share of $6.55, beating the Zacks Consensus Estimate of $5.53. Just Released: Zacks Top 10 Stocks for 2023 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
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Just Released: Zacks Top 10 Stocks for 2023 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023? Shares of Deere & Co. DE climbed 7.5% after reporting first-quarter fiscal 2023 adjusted earnings per share of $6.55, beating the Zacks Consensus Estimate of $5.53. Click to get this free report Consolidated Edison Inc (ED) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report HubSpot, Inc. (HUBS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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720767.0
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2023-02-20 00:00:00 UTC
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Stay Long and Strong on These 7 Stocks
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https://www.nasdaq.com/articles/stay-long-and-strong-on-these-7-stocks
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Although the benchmark equities index got off to a solid start this year, 2023 presents distinct challenges that warrant investors staying the course with reliable stocks to buy. Fundamentally, all eyes center on the Federal Reserve. For instance, with the Consumer Price Index (CPI) popping up slightly higher than expected, the central bank faces a stubborn inflation rate.
Unfortunately for the Fed, that’s not the only issue that could hurt sentiment. With China reopening, the overall impact should be positive for the long haul. However, a sudden rise in commercial activity means greater resource consumption. And that means more dollars will chase after fewer goods. Therefore, investors must consider reliable stocks to buy as a protective mechanism. Plus, we just don’t know what to make of geopolitical tensions and flashpoints. With so many challenges to consider, investors should target these stocks to buy.
K Kellogg $68.38
COST Costco $507.48
IBM IBM. $135.02
DE Deere $433.31
BG Bunge $97.57
AEP American Electric Power $92.41
XOM Exxon Mobil $111.28
Stocks to Buy: Kellogg (K)
Source: Epic Cure / Shutterstock
While no one will mistake breakfast food king Kellogg (NYSE:K) for an exciting investment, it easily ranks among the reliable stocks to buy. Primarily, the company offers a healthy dividend. At the time of writing, its forward yield stands at 3.45%, above the consumer staple sector’s average yield of 1.89%. Also, it commands 18 years of consecutive dividend increases, a status it won’t give up cheaply.
Financially, the company does reasonably well for itself. On the balance sheet, its stats neither rank spectacularly nor terribly – just somewhere in the middle. Operationally, its three-year revenue growth rate pings at 4%, which sits near the industry median value. However, its net margin is 6.27%, ranking above 68% of sector peers.
Fundamentally, the company’s products will never go out of style. As well, its moving into the food industry’s innovative space, specifically plant-based meat. With Kellogg’s massive scale, it’s the one credible player in fake meat. To be fair, Wall Street analysts peg K stock as a consensus hold. However, their average price target is $71.80, implying 5% upside potential.
Stocks to Buy: Costco (COST)
Source: Zurijeta / Shutterstock.com
Ordinarily, Costco (NASDAQ:COST) is an ideal example of stocks to buy during inflationary cycles. Of course, that’s because Costco’s business model incentivizes and encourages bulk purchases. By acquiring goods on large scale now, you can cushion the blow of inflation spiking their prices higher later. But will the same concept apply in reverse under deflationary conditions?
Whether we’re talking about relative deflation or absolute deflation, Costco would still be relevant. Fundamentally, deflation represents lower demand; therefore, retailers lower prices to attract the dwindling number of customers. However, this lower demand also implies a not-insignificant cut to the broader workforce.
Here’s the reality check that makes COST one of the stocks to buy, however. Generally speaking, Costco members make more money than shoppers at other big-box retailers. Put another way, when you own COST, you’re buying into a very resilient consumer base. Also, Wall Street analysts apparently feel the same way, pegging COST as a consensus moderate buy. Their average price target stands at $558.17, implying 10% upside potential.
Stocks to Buy: IBM (IBM)
Source: shutterstock.com/CC7
When you’re researching stocks to buy for what amounts to an economic slowdown, your portfolio doesn’t need to resemble the wish list of a doomsday prepper. A case in point is legacy technology stalwart IBM (NYSE:IBM). While not a particularly exciting name in the innovation space, Big Blue began sharply focusing on relevant industries such as hybrid cloud. As a result, it’s incredibly relevant and reliable.
For instance, while other tech firms struggled for any sign of positive traction, IBM kept its head above water. In the trailing year, IBM stock gained nearly 9%, a far cry from many other tech players. Also, it features an extremely attractive forward yield of 4.89%. This metric ranks well above the tech sector’s average yield of 1.37%. Also, it commands 29 years of consecutive annual dividend increases.
Financially, the market prices IBM at a forward multiple of 14.13. As a discount to earnings, Big Blue ranks better than 80% of players in the software industry. Also, IBM trades at 14.52 times free cash flow (FCF). As a discount to FCF, the company ranks higher than 70.34% of its rivals. Although IBM carries a hold assessment, Wall Street analysts believe shares will hit $143.56. This implies upside potential of over 6%.
Deere (DE)
Source: Freedom365day / Shutterstock.com
Should the Fed impose aggressively hawkish monetary policies to get inflation truly under control, investors should target Deere (NYSE:DE). A specialist in agricultural equipment, Deere represents an extraordinarily relevant enterprise. No matter how advanced we become as a society, we’ll always need to eat. Therefore, Deere’s tie-in with the broader food value chain should make it one of the best stocks to buy.
However, Deere also represents an old dog learning new tricks. At last year’s CES, Deere introduced a fully autonomous tractor. Aside from the incredible advancements in artificial intelligence and machine learning necessary to make this remarkable equipment work, Deere also facilitates another solution: not many people want to be farmers. Therefore, Deere took a disruptive tech and made it socially accretive – a genius move if you ask me.
To be fair, DE doesn’t rank highly in the yield department at only 1.11%. That’s conspicuously below the industrial sector’s average yield of 2.36%. However, Wall Street analysts peg DE as a consensus moderate buy. Also, their average price target stands at $481.41, implying over 11% upside potential.
Bunge (BG)
Source: Chompoo Suriyo / Shutterstock.com
An agribusiness and food company, Bunge (NYSE:BG) garnered a reputation for its international soybean export business. Further, its public profile states that the enterprise specializes in food processing, grain trading, and fertilizer. Because it’s directly involved in the food value chain, Bunge carries natural relevancies as one of the stocks to buy.
However, as the Fed attempts to control inflation, the subsequent deflationary forces should make no outrageously bad impact on Bunge. Let’s face it – on a fundamental level, the company benefits from inelastic demand. Essentially, humans need a minimum amount of calories to survive. Thus, BG makes plenty of sense as one of the stocks to buy. Objectively, the market prices BG at a forward multiple of 8.21. As a discount to earnings, Bunge ranks better than 85.84% of the competition. In addition, BG trades at 0.22 times (trailing) sales. As a discount to revenue, the food company ranks better than 89% of its rivals.
Finally, Wall Street analysts peg BG as a consensus strong buy. Moreover, their average price target stands at $123, implying 26% upside potential.
American Electric Power (AEP)
Source: ImageFlow/ShutterStock.com
If you anticipate that the Fed will throw the kitchen sink at inflation, then American Electric Power (NASDAQ:AEP) is a top candidate for stocks to buy. Of course, as an electric utility firm, AEP commands extraordinary relevance. Basically, bad things happen when people flip the switch and no light materializes. Further, utilities benefit from a natural monopoly. Basically, an extremely high barrier to entry prevents competition.
You can see how AEP’s pertinence played out in the charts. While many other publicly traded companies suffered sharp valuation erosions in 2022, AEP held its own. In the trailing year, the stock managed to gain nearly 8% of equity value.
As well, the company provides a solid form of passive income via a forward yield of 3.59%. Its payout ratio of 58.84% isn’t low but it’s quite manageable. Plus, with 13 years of consecutive dividend increases, management won’t want to give up on this track record. Finally, covering analysts peg AEP as a consensus moderate buy. Further, their average price target stands at $103.44, implying 12% upside potential.
Exxon Mobil (XOM)
Source: AdityaB. Photography/ShutterStock.com
Back in 2022, geopolitical flashpoints contributed to the hydrocarbon energy sector blossoming, albeit for truly cynical reasons. While I don’t like what’s going on in the world these days, as investors, we must deal with realities. And one reality is that Exxon Mobil (NYSE:XOM) ranks among the stocks to buy. With economic and geopolitical forces likely to drive up demand (and reduce supply), XOM may be a no-brainer.
Financially, it’s going to be difficult to ignore XOM, even if you support green initiatives over fossil fuels. For one thing, according to Gurufocus.com’s discounted cash flow analysis, XOM ranks as an undervalued – if not significantly undervalued – investment. The investment resource calculates the fair value at $165.55. Presently, XOM trades at $111.28.
Moreover, the company enjoys strong operational statistics. Its three-year revenue growth rate stands at 16.6%, outpacing 81.54% of its peers. As well, the net margin posted up at 13.98%, beating out 66% of the industry. Turning to Wall Street, analysts peg XOM as a consensus moderate buy. Further, their average price target stands at $125.47, implying nearly 13% upside potential.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
The post Stay Long and Strong on These 7 Stocks appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For instance, with the Consumer Price Index (CPI) popping up slightly higher than expected, the central bank faces a stubborn inflation rate. Aside from the incredible advancements in artificial intelligence and machine learning necessary to make this remarkable equipment work, Deere also facilitates another solution: not many people want to be farmers. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Although the benchmark equities index got off to a solid start this year, 2023 presents distinct challenges that warrant investors staying the course with reliable stocks to buy.
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DE Deere $433.31 BG Bunge $97.57 AEP American Electric Power $92.41 XOM Exxon Mobil $111.28 Stocks to Buy: Kellogg (K) Source: Epic Cure / Shutterstock While no one will mistake breakfast food king Kellogg (NYSE:K) for an exciting investment, it easily ranks among the reliable stocks to buy. Fundamentally, deflation represents lower demand; therefore, retailers lower prices to attract the dwindling number of customers. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Although the benchmark equities index got off to a solid start this year, 2023 presents distinct challenges that warrant investors staying the course with reliable stocks to buy.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Although the benchmark equities index got off to a solid start this year, 2023 presents distinct challenges that warrant investors staying the course with reliable stocks to buy. DE Deere $433.31 BG Bunge $97.57 AEP American Electric Power $92.41 XOM Exxon Mobil $111.28 Stocks to Buy: Kellogg (K) Source: Epic Cure / Shutterstock While no one will mistake breakfast food king Kellogg (NYSE:K) for an exciting investment, it easily ranks among the reliable stocks to buy. Stocks to Buy: Costco (COST) Source: Zurijeta / Shutterstock.com Ordinarily, Costco (NASDAQ:COST) is an ideal example of stocks to buy during inflationary cycles.
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DE Deere $433.31 BG Bunge $97.57 AEP American Electric Power $92.41 XOM Exxon Mobil $111.28 Stocks to Buy: Kellogg (K) Source: Epic Cure / Shutterstock While no one will mistake breakfast food king Kellogg (NYSE:K) for an exciting investment, it easily ranks among the reliable stocks to buy. Stocks to Buy: Costco (COST) Source: Zurijeta / Shutterstock.com Ordinarily, Costco (NASDAQ:COST) is an ideal example of stocks to buy during inflationary cycles. Presently, XOM trades at $111.28.
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2abc9467-4099-4cfd-a479-d6522dfebf63
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720768.0
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2023-02-20 00:00:00 UTC
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Best Dividend Stock to Buy: Deere Stock vs. Pepsi Stock vs. Caterpillar Stock
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DE
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https://www.nasdaq.com/articles/best-dividend-stock-to-buy%3A-deere-stock-vs.-pepsi-stock-vs.-caterpillar-stock
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Deere (NYSE: DE), Pepsi (NASDAQ: PEP), and Caterpillar (NYSE: CAT) stocks are excellent sources of dividends for investors. However, if you had to pick only one, this video will let you know which it should be.
*Stock prices used were the afternoon prices of Feb. 17, 2023. The video was published on Feb. 20, 2023.
10 stocks we like better than Deere
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Deere wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of February 8, 2023
Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool recommends Deere. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. Deere (NYSE: DE), Pepsi (NASDAQ: PEP), and Caterpillar (NYSE: CAT) stocks are excellent sources of dividends for investors. However, if you had to pick only one, this video will let you know which it should be.
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Deere (NYSE: DE), Pepsi (NASDAQ: PEP), and Caterpillar (NYSE: CAT) stocks are excellent sources of dividends for investors. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. However, if you had to pick only one, this video will let you know which it should be.
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10 stocks we like better than Deere When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. Deere (NYSE: DE), Pepsi (NASDAQ: PEP), and Caterpillar (NYSE: CAT) stocks are excellent sources of dividends for investors.
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* They just revealed what they believe are the ten best stocks for investors to buy right now... and Deere wasn't one of them! The Motley Fool recommends Deere. Deere (NYSE: DE), Pepsi (NASDAQ: PEP), and Caterpillar (NYSE: CAT) stocks are excellent sources of dividends for investors.
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ac3359d2-1244-4405-b771-705c9645e6e4
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720769.0
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2023-02-20 00:00:00 UTC
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Is Deere an Excellent Dividend Stock for Passive Income Investors?
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DE
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https://www.nasdaq.com/articles/is-deere-an-excellent-dividend-stock-for-passive-income-investors
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nan
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nan
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Deere (NYSE: DE) is riding a surge in customer demand as it enhances its machines with technology. Deere's earnings per share rocketed higher, driven by explosive revenue growth. This video will evaluate Deere's latest earnings results and consider its stock as a dividend investment.
*Stock prices used were the afternoon prices of Feb. 17, 2023. The video was published on Feb. 19, 2023.
10 stocks we like better than Deere
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Deere wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of February 8, 2023
Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool recommends Deere. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Deere (NYSE: DE) is riding a surge in customer demand as it enhances its machines with technology. Deere's earnings per share rocketed higher, driven by explosive revenue growth. This video will evaluate Deere's latest earnings results and consider its stock as a dividend investment.
|
After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. The Motley Fool recommends Deere. Deere (NYSE: DE) is riding a surge in customer demand as it enhances its machines with technology.
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This video will evaluate Deere's latest earnings results and consider its stock as a dividend investment. 10 stocks we like better than Deere When our award-winning analyst team has a stock tip, it can pay to listen. Deere (NYSE: DE) is riding a surge in customer demand as it enhances its machines with technology.
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After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. Deere (NYSE: DE) is riding a surge in customer demand as it enhances its machines with technology. Deere's earnings per share rocketed higher, driven by explosive revenue growth.
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80549eef-7d5c-4c22-9227-afed6d41879e
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720770.0
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2023-02-20 00:00:00 UTC
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Validea Guru Fundamental Report for DE - 2/20/2023
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DE
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https://www.nasdaq.com/articles/validea-guru-fundamental-report-for-de-2-20-2023
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Below is Validea's daily guru fundamental report for DEERE & COMPANY (DE). Of the 22 guru strategies we follow, DE rates highest using our Earnings Revision Investor model based on the published strategy of Wayne Thorp. This strategy looks for companies with upward revisions in analyst earnings estimates.
DEERE & COMPANY (DE) is a large-cap growth stock in the Constr. & Agric. Machinery industry. The rating using this strategy is 100% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Deere & Company is engaged in the delivery of agricultural, construction, and forestry equipment. The Company's Production & precision agriculture segment develops and delivers global equipment and technology solutions to growers of large grains, small grains, cotton, and sugarcane. The Small agriculture & turf segment develops and delivers global equipment and technology solutions to dairy and livestock producers, high-value crop producers, and turf and utility customers. The Construction and Forestry segment develops and delivers a range of machines and technology solutions organized along the earthmoving, forestry, and roadbuilding production systems. The Financial Services segment finances sales and leases by John Deere dealers of new and used production and precision agriculture equipment, small agriculture and turf equipment and construction and forestry equipment. Its technology-enabled products include John Deere Autonomous 8R Tractor, See & Spray and E-Power Backhoe.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
ANALYST COVERAGE: PASS
CURRENT YEAR ESTIMATE REVISIONS: PASS
NEXT YEAR ESTIMATE REVISIONS: PASS
CURRENT YEAR UP AND DOWN REVISIONS: PASS
NEXT YEAR UP AND DOWN REVISIONS: PASS
Detailed Analysis of DEERE & COMPANY
DE Guru Analysis
DE Fundamental Analysis
Wayne Thorp Portfolio
About Wayne Thorp: Wayne Thorp is a Vice President and financial analyst with the American Association of Individual Investors. He is an expert on quantitative investing and has played a significant role in the development of the AAII stock screening and model portfolio products. He has also earned the Chartered Financial Analyst designation from the CFA Insitute and is a graduate of DePaul University.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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He is an expert on quantitative investing and has played a significant role in the development of the AAII stock screening and model portfolio products. He has also earned the Chartered Financial Analyst designation from the CFA Insitute and is a graduate of DePaul University. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig.
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The Company's Production & precision agriculture segment develops and delivers global equipment and technology solutions to growers of large grains, small grains, cotton, and sugarcane. The Small agriculture & turf segment develops and delivers global equipment and technology solutions to dairy and livestock producers, high-value crop producers, and turf and utility customers. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis Wayne Thorp Portfolio About Wayne Thorp: Wayne Thorp is a Vice President and financial analyst with the American Association of Individual Investors.
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Of the 22 guru strategies we follow, DE rates highest using our Earnings Revision Investor model based on the published strategy of Wayne Thorp. The Financial Services segment finances sales and leases by John Deere dealers of new and used production and precision agriculture equipment, small agriculture and turf equipment and construction and forestry equipment. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis Wayne Thorp Portfolio About Wayne Thorp: Wayne Thorp is a Vice President and financial analyst with the American Association of Individual Investors.
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Below is Validea's daily guru fundamental report for DEERE & COMPANY (DE). Of the 22 guru strategies we follow, DE rates highest using our Earnings Revision Investor model based on the published strategy of Wayne Thorp. The Financial Services segment finances sales and leases by John Deere dealers of new and used production and precision agriculture equipment, small agriculture and turf equipment and construction and forestry equipment.
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7b87b8e4-cfe8-4312-a2b6-9715a4e5dbd6
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720771.0
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2023-02-20 00:00:00 UTC
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Deere (DE) Just Overtook the 20-Day Moving Average
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https://www.nasdaq.com/articles/deere-de-just-overtook-the-20-day-moving-average
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From a technical perspective, Deere (DE) is looking like an interesting pick, as it just reached a key level of support. DE recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Over the past four weeks, DE has gained 5.5%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
The bullish case solidifies once investors consider DE's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 3 higher, while the consensus estimate has increased too.
Investors should think about putting DE on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation
Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.
>>Yes, I Want to Help Protect My Portfolio During the Recession
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. The bullish case solidifies once investors consider DE's positive earnings estimate revisions. Investors should think about putting DE on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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The bullish case solidifies once investors consider DE's positive earnings estimate revisions. Investors should think about putting DE on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages. Investors should think about putting DE on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions. From a technical perspective, Deere (DE) is looking like an interesting pick, as it just reached a key level of support.
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If a stock's price is moving above the 20-day, the trend is considered positive. Investors should think about putting DE on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions. From a technical perspective, Deere (DE) is looking like an interesting pick, as it just reached a key level of support.
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03635cc2-885c-4149-8ded-46ef7cd853b9
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720772.0
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2023-02-20 00:00:00 UTC
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Deere (DE) Just Reclaimed the 50-Day Moving Average
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DE
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https://www.nasdaq.com/articles/deere-de-just-reclaimed-the-50-day-moving-average
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nan
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From a technical perspective, Deere (DE) is looking like an interesting pick, as it just reached a key level of support. DE recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.
Over the past four weeks, DE has gained 5.5%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
The bullish case solidifies once investors consider DE's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 3 higher, while the consensus estimate has increased too.
Investors may want to watch DE for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation
Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.
>>Yes, I Want to Help Protect My Portfolio During the Recession
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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From a technical perspective, Deere (DE) is looking like an interesting pick, as it just reached a key level of support. The bullish case solidifies once investors consider DE's positive earnings estimate revisions. Investors may want to watch DE for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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The bullish case solidifies once investors consider DE's positive earnings estimate revisions. Investors may want to watch DE for more gains in the near future given the company's key technical level and positive earnings estimate revisions. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Investors may want to watch DE for more gains in the near future given the company's key technical level and positive earnings estimate revisions. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report To read this article on Zacks.com click here. From a technical perspective, Deere (DE) is looking like an interesting pick, as it just reached a key level of support.
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Investors may want to watch DE for more gains in the near future given the company's key technical level and positive earnings estimate revisions. From a technical perspective, Deere (DE) is looking like an interesting pick, as it just reached a key level of support. DE recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
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720773.0
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2023-02-17 00:00:00 UTC
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Pre-Markets In The Red on Last Day of The Week
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https://www.nasdaq.com/articles/pre-markets-in-the-red-on-last-day-of-the-week
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It’s been an eventful week in the markets as Q4 earnings season heads into its home stretch and major reports like CPI and PPI mapped economic developments over the recent past. The consumer has held up its end, but prices remain stubbornly high. Perhaps we’ve experienced a stutter between legs-down — we’ve seen this at various times during the draw-down from peak inflation in 2022 — but only time will really tell.
In any case, market indices are lower in today’s pre-market: the Dow is -107 points, the S&P 500 -23 and the Nasdaq -90 points at this hour. Ultimately, we’ve been in a hodgepodge trading environment of late, with the Dow looking to finish its third straight week in the red (four of the last five weeks) while the Nasdaq looks to add its sixth week in the green of the last seven. Overall, the strong tech narrative for 2023 remains intact.
Import Prices for January came in lighter than expected: -0.2% on the headline was lower than -0.1% expected and +0.4% posted the previous month. Year over year, imports are running -4.9% lower. On the Exports side, we see +0.8% year over year growth, which is the lowest print since the pandemic year 2020. Overall, we add these figures to the “inflation coming down” column, which is good when considering the forward outlook of interest rates.
This week has also seen a shift in understanding regarding where the Fed funds rate is headed, and how soon it will get there. Two non-voting members of the Fed — St Louis’ James Bullard and Cleveland’s Loretta Mester — were both clear advocates of a 50 bps hike at the March 22nd Fed meeting; Fed Chair Powell had earlier indicated a 25 bps hike was likely. Another 25 bps hike was also being priced-in for the following meeting in early May, although now we’re hearing about the possibility of another 25 bps June hike. Either way you slice it, 5.50% looks to be in the cards — potentially.
Zacks Rank #2 (Buy)-rated heavy machinery manufacturer Deere & Co. (DE) posted one of the strongest earnings reports of the week with its fiscal Q1 print ahead of today’s opening bell: earnings of $6.55 per share easily swept past the $5.53 expected and the $2.29 per share reported in the year-ago quarter. Revenues of $11.40 also beat expectations, albeit by a narrower margin: +0.84%. Deere share also raised guidance, and shares are climbing nearly +4% in pre-market activity; the stock had sold off -6% year to date.
We hope you’ll be able to enjoy the three-day weekend as we here at Zacks will, in recognition of Presidents Day in the U.S. Markets and banks will also be closed until Tuesday. Economic reports will continue through next week, with PMI Manufacturing and Services, the first revision to Q4 GDP, and January PCE and Consumer Spending prints are all due, in addition to Weekly Jobless Claims. Stay warm!
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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It’s been an eventful week in the markets as Q4 earnings season heads into its home stretch and major reports like CPI and PPI mapped economic developments over the recent past. Zacks Rank #2 (Buy)-rated heavy machinery manufacturer Deere & Co. (DE) posted one of the strongest earnings reports of the week with its fiscal Q1 print ahead of today’s opening bell: earnings of $6.55 per share easily swept past the $5.53 expected and the $2.29 per share reported in the year-ago quarter. We hope you’ll be able to enjoy the three-day weekend as we here at Zacks will, in recognition of Presidents Day in the U.S. Markets and banks will also be closed until Tuesday.
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Zacks Rank #2 (Buy)-rated heavy machinery manufacturer Deere & Co. (DE) posted one of the strongest earnings reports of the week with its fiscal Q1 print ahead of today’s opening bell: earnings of $6.55 per share easily swept past the $5.53 expected and the $2.29 per share reported in the year-ago quarter. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report To read this article on Zacks.com click here. It’s been an eventful week in the markets as Q4 earnings season heads into its home stretch and major reports like CPI and PPI mapped economic developments over the recent past.
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Zacks Rank #2 (Buy)-rated heavy machinery manufacturer Deere & Co. (DE) posted one of the strongest earnings reports of the week with its fiscal Q1 print ahead of today’s opening bell: earnings of $6.55 per share easily swept past the $5.53 expected and the $2.29 per share reported in the year-ago quarter. It’s been an eventful week in the markets as Q4 earnings season heads into its home stretch and major reports like CPI and PPI mapped economic developments over the recent past. On the Exports side, we see +0.8% year over year growth, which is the lowest print since the pandemic year 2020.
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This week has also seen a shift in understanding regarding where the Fed funds rate is headed, and how soon it will get there. Zacks Rank #2 (Buy)-rated heavy machinery manufacturer Deere & Co. (DE) posted one of the strongest earnings reports of the week with its fiscal Q1 print ahead of today’s opening bell: earnings of $6.55 per share easily swept past the $5.53 expected and the $2.29 per share reported in the year-ago quarter. It’s been an eventful week in the markets as Q4 earnings season heads into its home stretch and major reports like CPI and PPI mapped economic developments over the recent past.
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720774.0
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2023-02-17 00:00:00 UTC
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AptarGroup (ATR) Q4 Earnings & Revenues Surpass Estimates
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https://www.nasdaq.com/articles/aptargroup-atr-q4-earnings-revenues-surpass-estimates
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AptarGroup, Inc. ATR reported fourth-quarter 2022 adjusted earnings per share of 92 cents, beating the Zacks Consensus Estimate of 78 cents. The bottom line increased 4% year over year from 88 cents (including comparable exchange rates). Excluding foreign-currency impact, earnings per share of 92 cents in the fourth quarter of 2022 declined 1.1% from the prior-year quarter’s 93 cents.
On a reported basis, earnings per share were 89 cents compared with the year-ago quarter’s 85 cents.
Total revenues decreased 2.2% year over year to $796 million in the reported quarter. However, the top line surpassed the Zacks Consensus Estimate of $780 million. Core sales, excluding currency and acquisition effects, improved 4% year over year due to strong volume growth in the pharma segment and price increases in the Beauty + Home segment.
Operational Update
Cost of sales decreased 0.3% year over year to $520 million. Gross profit decreased 5.7% year over year to $276 million. The gross margin contracted to 34.6% in the reported quarter compared with the prior-year quarter’s 35.9%.
Selling, research, development and administrative expenses fell 8.7% year over year to $128 million. Adjusted operating income decreased 6% year over year to $88 million. The adjusted operating margin was 11.0% in the reported quarter, down from the year-ago quarter’s 11.4%. Adjusted EBITDA decreased 4.4% year over year to $147 million in the fourth quarter.
AptarGroup, Inc. Price, Consensus and EPS Surprise
AptarGroup, Inc. price-consensus-eps-surprise-chart | AptarGroup, Inc. Quote
Segmental Performance
Total revenues in the Pharma segment increased 0.9% year over year to $335 million. Adjusted operating income in the quarter fell 2.4% year over year to $84 million.
Total revenues in the Beauty + Home segment fell 4% year over year to $339 million. Adjusted operating income improved 26.5% year over year to $17.5 million in the fourth quarter.
Total revenues in the Food + Beverage segment decreased 5.8% year over year to $122 million. Operating income was $5.7 million in fourth-quarter 2022, reflecting a decline of 21% from the year-ago quarter.
Financial Performance
AptarGroup reported cash and cash equivalents of $142 million as of Dec 31, 2022, up from $123 million as of Dec 31, 2021. The company generated $479 million of cash flow from operations in 2022 compared with $363 million in the last year. As of Dec 31, 2022, long-term debt was approximately $1,053 million, up from $907 million as of Dec 31, 2021.
2022 Results
AptarGroup’s adjusted earnings per share improved 5% year over year to $3.79 in 2021 (including comparable exchange rates). The figure beat the Zacks Consensus Estimate of $3.65. Excluding foreign currency impact, earnings per share of $3.79 in 2022 reflected a 2% decline from $3.88 in 2021.
Including one-time items, the company delivered earnings per share of $3.59 in 2022 compared with $3.61 in 2021. Sales rose 2.9% year over year to $3.3 billion, meeting the Zacks Consensus Estimate.
Outlook
AptarGroup estimates first-quarter 2023 adjusted earnings per share of 85-93 cents. At comparable exchange rates, ATR’s earnings per share were 94 cents in the first quarter of 2022. Excluding foreign currency impact, earnings per share in the first quarter of 2022 was 96 cents.
Price Performance
Shares of the company have lost 4.2% in the past year compared with the industry’s fall of 0.6%.
Image Source: Zacks Investment Research
Zacks Rank and Stocks to Consider
AptarGroup currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are O-I Glass, Inc. OI, Tenaris TS and Deere & Company DE. OI and TS flaunt a Zacks Rank #1 (Strong Buy) at present, and DE has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
O-I Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.51 per share. This indicates a 9.13% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 12.5% north in the past 60 days. OI’s shares gained 58.7% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $5.32 per share. This indicates a 22.4% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 2.7% in the past 60 days. Its shares gained 39.8% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported last year. The consensus estimate for fiscal 2023 earnings moved 0.6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 7.1%. Its shares gained 5.9% in the last year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
O-I Glass, Inc. (OI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
AptarGroup, Inc. (ATR) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Some better-ranked stocks from the Industrial Products sector are O-I Glass, Inc. OI, Tenaris TS and Deere & Company DE. The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported last year. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Excluding foreign-currency impact, earnings per share of 92 cents in the fourth quarter of 2022 declined 1.1% from the prior-year quarter’s 93 cents. Total revenues decreased 2.2% year over year to $796 million in the reported quarter.
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The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported last year. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Excluding foreign-currency impact, earnings per share of 92 cents in the fourth quarter of 2022 declined 1.1% from the prior-year quarter’s 93 cents.
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Total revenues decreased 2.2% year over year to $796 million in the reported quarter. The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $28.08, suggesting an increase of 20.6% from that reported last year. Excluding foreign-currency impact, earnings per share of 92 cents in the fourth quarter of 2022 declined 1.1% from the prior-year quarter’s 93 cents.
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2023-02-17 00:00:00 UTC
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US STOCKS-S&P 500 ends down as investors fret about interest rates
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https://www.nasdaq.com/articles/us-stocks-sp-500-ends-down-as-investors-fret-about-interest-rates
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By Johann M Cherian and Noel Randewich
Feb 17 (Reuters) - The S&P 500 ended lower on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes.
The see-saw session on Wall Street followed economic data this week that pointed to elevated inflation, a tight job market and resilience in consumer spending, giving the Fed more room for to raise borrowing costs.
Goldman Sachs and Bank of America forecast three more rate hikes this year and by a quarter of a percentage point each, up from their previous estimate of two rate rises.
Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation. 0#FEDWATCH
"A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.
"The jobs numbers aren't getting weaker, and it's hard to go into a recession with a strong labor market at the same time. That means the Fed could push the button and move rates higher," Dollarhide said.
Microsoft Corp MFST.O, Nvidia NVDA.O and Amazon.com Inc AMZN.O lost ground and weighed heavily on the S&P 500 as the yield on 10-year Treasury notes US10YT=RR hit a three-month high. US/
The CBOE Volatility index .VIX, also known as Wall Street's fear gauge, traded above 20 points for a second session in a row.
According to preliminary data, the S&P 500 .SPX lost 10.99 points, or 0.27%, to end at 4,079.42 points, while the Nasdaq Composite .IXIC lost 68.56 points, or 0.58%, to 11,786.34. The Dow Jones Industrial Average .DJI rose 133.73 points, or 0.40%, to 33,828.44.
The S&P 500 has gained about 6% so far in 2023, while the Nasdaq has rebounded about 13% following deep losses last year.
Adding to recent worries about monetary policy, Fed Governor Michelle Bowman said the central bank will need to keep raising interest rates until it makes much more progress tackling inflation. Richmond Fed President Thomas Barkin said the central bank still needs to raise interest rates, but that it could stick with quarter-point increases.
Moderna Inc > fell after its experimental messenger RNA-based influenza vaccine delivered mixed results in a study.
Deere & CoDE.Nsurged after the world's largest farm equipment maker raised its annual profit and beat quarterly earnings expectations.
Lithium miners Livent Corp LTHM.N, Albemarle Corp ALB.N and Piedmont Lithium Inc PLL.Oslumped due to concerns about weakness in Chinese prices for the EV battery metal.
U.S. stock markets will be closed on Monday on account of Presidents' Day.
S&P 500 tradinghttps://tmsnrt.rs/3YGBsy3
(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; Editing by Marguerita Choy)
((johann.mcherian@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Johann M Cherian and Noel Randewich Feb 17 (Reuters) - The S&P 500 ended lower on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes. 0#FEDWATCH "A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation.
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By Johann M Cherian and Noel Randewich Feb 17 (Reuters) - The S&P 500 ended lower on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes. Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation. 0#FEDWATCH "A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.
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Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation. By Johann M Cherian and Noel Randewich Feb 17 (Reuters) - The S&P 500 ended lower on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes. 0#FEDWATCH "A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.
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By Johann M Cherian and Noel Randewich Feb 17 (Reuters) - The S&P 500 ended lower on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes. Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation. 0#FEDWATCH "A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.
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2023-02-17 00:00:00 UTC
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Wall Street drops as investors fret about interest rates
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https://www.nasdaq.com/articles/wall-street-drops-as-investors-fret-about-interest-rates
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By Johann M Cherian and Noel Randewich
Feb 17 (Reuters) - Wall Street dropped on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes.
The main indexes were on track to lose ground for the week as economic data pointed to elevated inflation, a tight job market and resilience in consumer spending, giving the Fed more room for to raise borrowing costs.
Goldman Sachs and Bank of America forecast three more rate hikes this year and by a quarter of a percentage point each, up from their previous estimate of two rate rises.
Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation. 0#FEDWATCH
"A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.
"The jobs numbers aren't getting weaker, and it's hard to go into a recession with a strong labor market at the same time. That means the Fed could push the button and move rates higher," Dollarhide said.
Of the 11 S&P 500 sector indexes, seven declined, led lower by energy .SPNY, down 3.75%, followed by a 1.73% loss in information technology .SPLRCT.
Microsoft Corp <MFST.O>, Nvidia NVDA.O and Amazon.com Inc AMZN.O lost more than 2% each and weighed heavily on the S&P 500 as the yield on 10-year Treasury notes US10YT=RR hit a three-month high. US/
The CBOE Volatility index .VIX, also known as Wall Street's fear gauge, traded above 20 points for a second session in a row.
In afternoon trading, the S&P 500 was down 0.79% at 4,058.27 points.
The Nasdaq declined 1.24% to 11,708.36 points, while the Dow Jones Industrial Average was down 0.08% at 33,668.55 points.
The S&P 500 has gained about 6% so far in 2023, while the Nasdaq has rebounded 12% following deep losses last year.
Adding to the gloom, Fed Governor Michelle Bowmansaid the central bank will need to keep raising interest rates until it makes much more progress tackling inflation. Richmond Fed President Thomas Barkin said the central bank still needs to raise interest rates, but that it could stick with quarter-point increases.
Moderna IncMRNA.O fell 5% after its experimental messenger RNA-based influenza vaccine delivered mixed results in a study.
Deere & CoDE.N surged over 8% after the world's largest farm equipment maker raised its annual profit and beat quarterly earnings expectations.
Lithium miners Livent Corp LTHM.N, Albemarle Corp ALB.N and Piedmont Lithium Inc PLL.O all fell more than 10% due to concerns about weakness in Chinese prices for the EV battery metal.
U.S. stock markets will be closed on Monday on account of Presidents' Day.
Across the U.S. stock market .AD.US, declining stocks outnumbered rising ones by a 1.7-to-one ratio.
The S&P 500 posted six new highs and one new low; the Nasdaq recorded 55 new highs and 57 new lows.
S&P 500 tradinghttps://tmsnrt.rs/3YGBsy3
(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; Editing by Marguerita Choy)
((johann.mcherian@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Johann M Cherian and Noel Randewich Feb 17 (Reuters) - Wall Street dropped on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes. The main indexes were on track to lose ground for the week as economic data pointed to elevated inflation, a tight job market and resilience in consumer spending, giving the Fed more room for to raise borrowing costs. 0#FEDWATCH "A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.
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By Johann M Cherian and Noel Randewich Feb 17 (Reuters) - Wall Street dropped on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes. Richmond Fed President Thomas Barkin said the central bank still needs to raise interest rates, but that it could stick with quarter-point increases. Across the U.S. stock market .AD.US, declining stocks outnumbered rising ones by a 1.7-to-one ratio.
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The main indexes were on track to lose ground for the week as economic data pointed to elevated inflation, a tight job market and resilience in consumer spending, giving the Fed more room for to raise borrowing costs. Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation. By Johann M Cherian and Noel Randewich Feb 17 (Reuters) - Wall Street dropped on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes.
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Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation. 0#FEDWATCH "A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. By Johann M Cherian and Noel Randewich Feb 17 (Reuters) - Wall Street dropped on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes.
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720777.0
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2023-02-17 00:00:00 UTC
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Wall Street drops on mounting worries about Fed staying hawkish
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https://www.nasdaq.com/articles/wall-street-drops-on-mounting-worries-about-fed-staying-hawkish
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By Johann M Cherian and Sruthi Shankar
Feb 17 (Reuters) - U.S. stock indexes fell on Friday, weighed down by energy and megacap growth names, as investors worried that inflation and signs of strength in the U.S. economy could put the Federal Reserve on pace for more interest rate hikes.
Wall Street indexes turned volatile this week following a strong start to 2023 as economic data pointed to elevated inflation, a tight job market and resilience in consumer spending, giving the Fed more room for to raise borrowing costs.
Goldman Sachs and Bank of America forecast three more rate hikes this year and by a quarter of a percentage point each, up from their previous estimate of two rate rises.
Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July. 0#FEDWATCH
"Anything strong in terms of data is a sign of an overheated economy, where the Fed is going to have to continue to raise interest rates, either pushing them higher or keeping them higher for longer," Robert Pavlik, senior portfolio manager at Dakota Wealth said.
"So investors feel that the central bank is going to kill the economy by jacking rates up too many times."
Seven of the 11 major S&P sectors were lower, with energy stocks .SPNY sliding 3.6% as oil prices tumbled almost 3%. O/R
Rate-sensitive megacap names like Microsoft Corp MFST.O, Apple Inc AAPL.O and Amazon.com Inc AMZN.O lost more than 1% as the yield on 10-year Treasury notes US10YT=RR hit a three-month high. US/
Defensive sectors, which tend to outperform during economic uncertainty, such as healthcare .SPXHC, consumer staple .SPLRCS and utilities .SPLRCU gained.
The CBOE Volatility index .VIX, also known as Wall Street's fear gauge, traded above 20 points for a second session in a row.
At 12:51 p.m. ET, the Dow Jones Industrial Average .DJI was down 60.12 points, or 0.18%, at 33,636.73, the S&P 500 .SPX was down 37.34 points, or 0.91%, at 4,053.07, and the Nasdaq Composite .IXIC was down 167.37 points, or 1.41%, at 11,688.46.
Adding to the gloom, Richmond Fed president Thomas Barkin and Fed governor Michelle Bowman joined the chorus of officials advocating for more rate hikes.
Moderna IncMRNA.O fell 5% after its experimental messenger RNA-based influenza vaccine delivered mixed results in a study.
Deere & CoDE.N surged 7.6% after the world's largest farm equipment maker raised its annual profit and beat quarterly earnings expectations.
Lithium miners Livent Corp LTHM.N, Albemarle Corp ALB.N and Piedmont Lithium Inc PLL.O fell between 9% and 13% due to weakness in Chinese price for the EV battery metal.
U.S. markets will be closed on Monday on account of Presidents' Day.
Declining issues outnumbered advancers for a 2.08-to-1 ratio on the NYSE and 1.36-to-1 ratio on the Nasdaq.
The S&P index recorded six new 52-week highs and one new low, while the Nasdaq recorded 55 new highs and 54 new lows.
(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; Editing by Alden Bentley, Anil D'Silva, Sriraj Kalluvila and Arun Koyyur)
((johann.mcherian@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Johann M Cherian and Sruthi Shankar Feb 17 (Reuters) - U.S. stock indexes fell on Friday, weighed down by energy and megacap growth names, as investors worried that inflation and signs of strength in the U.S. economy could put the Federal Reserve on pace for more interest rate hikes. Wall Street indexes turned volatile this week following a strong start to 2023 as economic data pointed to elevated inflation, a tight job market and resilience in consumer spending, giving the Fed more room for to raise borrowing costs. Deere & CoDE.N surged 7.6% after the world's largest farm equipment maker raised its annual profit and beat quarterly earnings expectations.
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By Johann M Cherian and Sruthi Shankar Feb 17 (Reuters) - U.S. stock indexes fell on Friday, weighed down by energy and megacap growth names, as investors worried that inflation and signs of strength in the U.S. economy could put the Federal Reserve on pace for more interest rate hikes. Wall Street indexes turned volatile this week following a strong start to 2023 as economic data pointed to elevated inflation, a tight job market and resilience in consumer spending, giving the Fed more room for to raise borrowing costs. The S&P index recorded six new 52-week highs and one new low, while the Nasdaq recorded 55 new highs and 54 new lows.
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By Johann M Cherian and Sruthi Shankar Feb 17 (Reuters) - U.S. stock indexes fell on Friday, weighed down by energy and megacap growth names, as investors worried that inflation and signs of strength in the U.S. economy could put the Federal Reserve on pace for more interest rate hikes. Wall Street indexes turned volatile this week following a strong start to 2023 as economic data pointed to elevated inflation, a tight job market and resilience in consumer spending, giving the Fed more room for to raise borrowing costs. Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July.
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By Johann M Cherian and Sruthi Shankar Feb 17 (Reuters) - U.S. stock indexes fell on Friday, weighed down by energy and megacap growth names, as investors worried that inflation and signs of strength in the U.S. economy could put the Federal Reserve on pace for more interest rate hikes. Wall Street indexes turned volatile this week following a strong start to 2023 as economic data pointed to elevated inflation, a tight job market and resilience in consumer spending, giving the Fed more room for to raise borrowing costs. Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July.
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75fc6fdf-debe-4bb9-812d-0ffc78a513ec
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720778.0
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2023-02-17 00:00:00 UTC
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Deere (DE) Reports Q1 Earnings: What Key Metrics Have to Say
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DE
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https://www.nasdaq.com/articles/deere-de-reports-q1-earnings%3A-what-key-metrics-have-to-say
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For the quarter ended January 2023, Deere (DE) reported revenue of $11.4 billion, up 33.7% over the same period last year. EPS came in at $6.55, compared to $2.92 in the year-ago quarter.
The reported revenue represents a surprise of +0.84% over the Zacks Consensus Estimate of $11.31 billion. With the consensus EPS estimate being $5.53, the EPS surprise was +18.44%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Deere performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net sales-Equipment Operations-Construction and Forestry: $3.20 billion versus the five-analyst average estimate of $2.89 billion. The reported number represents a year-over-year change of +25.9%.
Net sales-Equipment Operations-Small ag & turf: $3 billion versus $2.98 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.1% change.
Net sales-Equipment Operations-Agriculture and Turf(Production & precision ag net sales+Small ag & turf net sales): $8.20 billion versus the four-analyst average estimate of $8.42 billion. The reported number represents a year-over-year change of +37%.
Net sales-Equipment Operations-Production & precision ag: $5.20 billion compared to the $5.37 billion average estimate based on four analysts. The reported number represents a change of +54.9% year over year.
Net sales and revenues-Equipment Operations: $11.40 billion versus $11.32 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +33.7% change.
Operating profit-Equipment Operations-Construction and Forestry: $625 million compared to the $420.61 million average estimate based on four analysts.
Operating profit-Equipment Operations-Small ag & turf: $447 million versus $453.55 million estimated by three analysts on average.
Operating profit-Equipment Operations-Production & precision ag: $1.21 billion versus $1.03 billion estimated by three analysts on average.
Operating profit-Equipment Operations Agriculture and turf(Production & precision ag+Small ag & turf): $1.66 billion compared to the $1.53 billion average estimate based on three analysts.
View all Key Company Metrics for Deere here>>>
Shares of Deere have returned -1.4% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For the quarter ended January 2023, Deere (DE) reported revenue of $11.4 billion, up 33.7% over the same period last year. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Here is how Deere performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net sales-Equipment Operations-Construction and Forestry: $3.20 billion versus the five-analyst average estimate of $2.89 billion. For the quarter ended January 2023, Deere (DE) reported revenue of $11.4 billion, up 33.7% over the same period last year. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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Here is how Deere performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net sales-Equipment Operations-Construction and Forestry: $3.20 billion versus the five-analyst average estimate of $2.89 billion. For the quarter ended January 2023, Deere (DE) reported revenue of $11.4 billion, up 33.7% over the same period last year. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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Here is how Deere performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net sales-Equipment Operations-Construction and Forestry: $3.20 billion versus the five-analyst average estimate of $2.89 billion. View all Key Company Metrics for Deere here>>> For the quarter ended January 2023, Deere (DE) reported revenue of $11.4 billion, up 33.7% over the same period last year.
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2023-02-17 00:00:00 UTC
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Deere (DE) Q1 Earnings Top Estimates, Rise Y/Y on Solid Demand
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https://www.nasdaq.com/articles/deere-de-q1-earnings-top-estimates-rise-y-y-on-solid-demand
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Deere & Company DE reported first-quarter fiscal 2023 (ended Mar 31, 2023) earnings of $6.55 per share, beating the Zacks Consensus Estimate of $5.53. The bottom line surged 124% from the prior-year quarter’s level, as higher shipment volumes and price realization helped offset the steep production and other expenses. DE witnessed strong demand for both farm and construction equipment.
Net sales of equipment operations (comprising Agriculture and Turf, Construction and Forestry) were $11.75 billion, up 34% from the prior-year quarter’s level. Revenues beat the Zacks Consensus Estimate of $11.31 billion. Total net sales (including financial services and others) were $12.6 billion, up 32% from the year-earlier quarter’s reading.
Operational Update
The cost of sales in the reported quarter was up 18.5% from the prior-year quarter’s reading to $7.9 billion. Total gross profit in the reported quarter surged 64% from the prior-year quarter’s level to $4.7 billion. Selling, administrative and general expenses rose 22% to $952 million from the prior-year period.
Deere & Company Price, Consensus and EPS Surprise
Deere & Company price-consensus-eps-surprise-chart | Deere & Company Quote
Total operating profit (including financial services) surged 104% from the prior-year quarter to $2,518 million in the fiscal first quarter.
Segmental Performance
The Production & Precision Agriculture segment’s sales rose 55% from the prior-year quarter to $5,198 million primarily due to higher shipment volumes and price realization. The operating profit in the segment surged 308% from the prior-year quarter to $1,208 million. Gains from higher shipment volumes and price realization were offset by escalated production costs as well as higher R&D and SA&G expenses.
Small Agriculture & Turf sales rose 14% to $3,001 million from the year-earlier quarter due to higher shipment volumes and price realization, partially offset by the unfavorable impacts of currency translation. The segment’s operating profit rose 20% from the prior-year quarter’s level to $447 million, mainly aided by price realization and improved shipment volumes, partially offset by elevated production costs, higher R&D and SA&G expenses, and the unfavorable effects of foreign exchange.
Construction & forestry segment sales were $3,203 million, up 26% from the prior-year quarter, backed by price realization and higher volumes, partially offset by the negative effects of currency translation. The segment’s operating profit was up 130% from the prior-year quarter’s levels to $625 million on the back of price realization and increased sales volume. However, higher production costs dampened these gains.
Net revenues in Deere’s Financial Services division were $1,040 million in the reported quarter compared with the prior-year quarter’s $870 million. The segment’s operating profit amounted to $238 million, down 20% from the year-ago quarter’s level.
Financial Update
Deere reported cash and cash equivalents of around $4 billion at the end of the first quarter of fiscal 2023 compared with $4.8 billion recorded at the end of fiscal 2022. Cash used in operating activities was $1.2 billion in the first quarter of fiscal 2023 compared with $2.5 billion in the comparable quarter in the last fiscal. At the end of the fiscal first quarter, the long-term borrowing was $35.1 billion, up from $33.6 billion at the end of fiscal 2022.
Outlook
Deere expects net income for fiscal 2023 between $8.75 billion and $9.25 billion compared with $7.1 billion reported in fiscal 2022. Favorable farm fundamentals and increased investment in infrastructure will drive demand for DE’s equipment.
Net sales for Production & Precision Agriculture are expected to register sales growth of 20% in fiscal 2023 from the prior-year quarter’s reported level. Sales growth for Small Agriculture & Turf is expected to be flat to up 5% and for Construction & forestry to be up 10-15%.
Price Performance
Shares of Deere have gained 5.9% in the past year compared with the industry’s 6.9% growth.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
Deere currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Industrial Products sector are O-I Glass, Inc. OI, Tenaris TS and W.W. Grainger, Inc. GWW. All of these companies sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
O-I Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.51 per share. This indicates a 9.13% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 12.5% north in the past 60 days. OI’s shares gained 58.7% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $5.32 per share. This indicates a 22.4% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 2.7% in the past 60 days. Its shares gained 39.8% in the last year.
The Zacks Consensus Estimate for Grainger’s fiscal 2023 earnings per share is pegged at $32.65, suggesting an increase of 10% from last year. The consensus estimate for fiscal 2023 earnings has moved 6% upward in the last 60 days. GWW has a trailing four-quarter average earnings surprise of 9.81%. Its shares gained 42% over the last year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
O-I Glass, Inc. (OI) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report
Tenaris S.A. (TS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The segment’s operating profit rose 20% from the prior-year quarter’s level to $447 million, mainly aided by price realization and improved shipment volumes, partially offset by elevated production costs, higher R&D and SA&G expenses, and the unfavorable effects of foreign exchange. Deere & Company DE reported first-quarter fiscal 2023 (ended Mar 31, 2023) earnings of $6.55 per share, beating the Zacks Consensus Estimate of $5.53. DE witnessed strong demand for both farm and construction equipment.
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Deere & Company Price, Consensus and EPS Surprise Deere & Company price-consensus-eps-surprise-chart | Deere & Company Quote Total operating profit (including financial services) surged 104% from the prior-year quarter to $2,518 million in the fiscal first quarter. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here. Deere & Company DE reported first-quarter fiscal 2023 (ended Mar 31, 2023) earnings of $6.55 per share, beating the Zacks Consensus Estimate of $5.53.
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Deere & Company DE reported first-quarter fiscal 2023 (ended Mar 31, 2023) earnings of $6.55 per share, beating the Zacks Consensus Estimate of $5.53. Deere & Company Price, Consensus and EPS Surprise Deere & Company price-consensus-eps-surprise-chart | Deere & Company Quote Total operating profit (including financial services) surged 104% from the prior-year quarter to $2,518 million in the fiscal first quarter. Click to get this free report O-I Glass, Inc. (OI) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report Tenaris S.A. (TS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Deere & Company DE reported first-quarter fiscal 2023 (ended Mar 31, 2023) earnings of $6.55 per share, beating the Zacks Consensus Estimate of $5.53. Image Source: Zacks Investment Research Zacks Rank & Other Stocks to Consider Deere currently carries a Zacks Rank #2 (Buy). DE witnessed strong demand for both farm and construction equipment.
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487967e6-8c2a-41b8-a77f-98e297830e77
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720780.0
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2023-02-17 00:00:00 UTC
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US STOCKS-S&P 500 ends down as investors fret about interest rates
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https://www.nasdaq.com/articles/us-stocks-sp-500-ends-down-as-investors-fret-about-interest-rates-0
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By Noel Randewich
Feb 17 (Reuters) - The S&P 500 ended lower on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes.
The see-saw session on Wall Street followed economic data this week that pointed to elevated inflation, a tight job market and resilience in consumer spending, giving the Fed more room for to raise borrowing costs.
Goldman Sachs and Bank of America forecast three more rate hikes this year and by a quarter of a percentage point each, up from their previous estimate of two rate rises.
Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation. 0#FEDWATCH
"A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.
"The jobs numbers aren't getting weaker, and it's hard to go into a recession with a strong labor market at the same time. That means the Fed could push the button and move rates higher," Dollarhide said.
Microsoft Corp <MFST.O> fell 1.6% and Nvidia NVDA.O dipped 2.8%, both weighing on the S&P 500 as the yield on 10-year Treasury notes US10YT=RR hit a three-month high. US/
The CBOE Volatility index .VIX, also known as Wall Street's fear gauge, traded above 20 points for a second session in a row.
Of the 11 S&P 500 sector indexes, six rose, led by consumer staples .SPLRCS, up 1.29%, followed by a 1% gain in Utilities .SPLRCU. Energy dropped 3.65%, with Exxon Mobil losing 3.8%.
The S&P 500 declined 0.28% to end the session at 4,079.09 points.
The Nasdaq fell 0.58% to 11,787.27 points, while Dow Jones Industrial Average rose 0.39% to 33,826.69 points.
For the week, the S&P 500 fell 0.3%, the Dow lost 0.1% and the Nasdaq climbed 0.6%.
The S&P 500 has gained about 6% so far in 2023, while the Nasdaq has rebounded about 13% following deep losses last year.
Adding to recent worries about monetary policy, Fed Governor Michelle Bowman said the central bank will need to keep raising interest rates until it makes much more progress tackling inflation. Richmond Fed President Thomas Barkin said the central bank still needs to raise interest rates, but that it could stick with quarter-point increases.
Moderna Inc > fell 3.3% after its experimental messenger RNA-based influenza vaccine delivered mixed results in a study.
Deere & CoDE.Nsurged 7.5% after the world's largest farm equipment maker raised its annual profit and beat quarterly earnings expectations.
Lithium miners Livent Corp LTHM.N, Albemarle Corp ALB.N and Piedmont Lithium Inc PLL.Oslumped between 10% and 12% due to concerns about weakness in Chinese prices for the EV battery metal.
The most traded company in the S&P 500 was Tesla Inc TSLA.OQ, with $42.9 billion worth of shares exchanged during the session. The shares rose 3.10%.
U.S. stock markets will be closed on Monday on account of Presidents' Day.
Advancing issues outnumbered falling ones within the S&P 500 .AD.SPX by a 1.1-to-one ratio.
The S&P 500 posted eight new highs and one new low; the Nasdaq recorded 75 new highs and 68 new lows.
Volume on U.S. exchanges was relatively light, with 10.6 billion shares traded, compared with an average of 11.7 billion shares over the previous 20 sessions.
S&P 500 tradinghttps://tmsnrt.rs/3YGBsy3
(Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; Editing by Marguerita Choy)
((johann.mcherian@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Noel Randewich Feb 17 (Reuters) - The S&P 500 ended lower on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes. 0#FEDWATCH "A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation.
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By Noel Randewich Feb 17 (Reuters) - The S&P 500 ended lower on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes. Volume on U.S. exchanges was relatively light, with 10.6 billion shares traded, compared with an average of 11.7 billion shares over the previous 20 sessions. Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation.
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Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation. By Noel Randewich Feb 17 (Reuters) - The S&P 500 ended lower on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes. 0#FEDWATCH "A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.
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Traders are expecting at least two more rate increases and see the Fed rate peaking at 5.3% by July as central bank attempts to cool the economy and reduce inflation. By Noel Randewich Feb 17 (Reuters) - The S&P 500 ended lower on Friday, weighed down by Microsoft and Nvidia as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes. 0#FEDWATCH "A dark cloud has drifted over the stock market in the last two weeks based on a higher watermark for the Fed funds rate," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.
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6eeb215f-d530-461a-a038-f40d8eda633e
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720781.0
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2023-02-17 00:00:00 UTC
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Deere And Co Q1 23 Earnings Conference Call At 10:00 AM ET
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https://www.nasdaq.com/articles/deere-and-co-q1-23-earnings-conference-call-at-10%3A00-am-et
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(RTTNews) - Deere And Co (DE) will host a conference call at 10:00 AM ET on Feb. 17, 2023, to discuss Q1 23 earnings results.
To access the live webcast, log on to https://investor.deere.com/home/default.aspx
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Deere And Co (DE) will host a conference call at 10:00 AM ET on Feb. 17, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://investor.deere.com/home/default.aspx The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Deere And Co (DE) will host a conference call at 10:00 AM ET on Feb. 17, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://investor.deere.com/home/default.aspx The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Deere And Co (DE) will host a conference call at 10:00 AM ET on Feb. 17, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://investor.deere.com/home/default.aspx The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Deere And Co (DE) will host a conference call at 10:00 AM ET on Feb. 17, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://investor.deere.com/home/default.aspx The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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9206cbdf-e3ac-48bc-a55a-a7f2e37e85a6
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2023-02-17 00:00:00 UTC
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S&P 500 Movers: ALB, DE
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https://www.nasdaq.com/articles/sp-500-movers%3A-alb-de
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In early trading on Friday, shares of Deere topped the list of the day's best performing components of the S&P 500 index, trading up 6.0%. Year to date, Deere has lost about 0.4% of its value.
And the worst performing S&P 500 component thus far on the day is Albemarle, trading down 8.8%. Albemarle is showing a gain of 20.0% looking at the year to date performance.
Two other components making moves today are Zebra Technologies, trading down 6.5%, and Bio-Rad Laboratories, trading up 4.0% on the day.
VIDEO: S&P 500 Movers: ALB, DE
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: S&P 500 Movers: ALB, DE The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Friday, shares of Deere topped the list of the day's best performing components of the S&P 500 index, trading up 6.0%. Year to date, Deere has lost about 0.4% of its value.
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In early trading on Friday, shares of Deere topped the list of the day's best performing components of the S&P 500 index, trading up 6.0%. Year to date, Deere has lost about 0.4% of its value. VIDEO: S&P 500 Movers: ALB, DE The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In early trading on Friday, shares of Deere topped the list of the day's best performing components of the S&P 500 index, trading up 6.0%. Year to date, Deere has lost about 0.4% of its value. VIDEO: S&P 500 Movers: ALB, DE The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: S&P 500 Movers: ALB, DE The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Friday, shares of Deere topped the list of the day's best performing components of the S&P 500 index, trading up 6.0%. Year to date, Deere has lost about 0.4% of its value.
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2023-02-17 00:00:00 UTC
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Deere Climbs On Surge In Q1 Profit
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https://www.nasdaq.com/articles/deere-climbs-on-surge-in-q1-profit
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(RTTNews) - Deere & Co. (DE) shares are gaining more than 5 percent on Friday morning trade after the company reported 117 percent increase in first quarter earnings supported by 32 percent growth in revenues.
The company's quarterly earnings grew to $1959 billion from $903 billion in the prior year. On a per-share basis, earnings were $6.55, up from $2.92 last year.
Revenue for the first quarter increased to $12.65 billion from $9.57 billion a year ago.
Looking ahead to fiscal 2023, the company expects net income in the range of $8.75 - $9.25 billion.
Currently, shares are at $425.97, up 5.71 percent from the previous close of $402.96 on a volume of 1,128,501.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Deere & Co. (DE) shares are gaining more than 5 percent on Friday morning trade after the company reported 117 percent increase in first quarter earnings supported by 32 percent growth in revenues. Looking ahead to fiscal 2023, the company expects net income in the range of $8.75 - $9.25 billion. Currently, shares are at $425.97, up 5.71 percent from the previous close of $402.96 on a volume of 1,128,501.
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(RTTNews) - Deere & Co. (DE) shares are gaining more than 5 percent on Friday morning trade after the company reported 117 percent increase in first quarter earnings supported by 32 percent growth in revenues. The company's quarterly earnings grew to $1959 billion from $903 billion in the prior year. Revenue for the first quarter increased to $12.65 billion from $9.57 billion a year ago.
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(RTTNews) - Deere & Co. (DE) shares are gaining more than 5 percent on Friday morning trade after the company reported 117 percent increase in first quarter earnings supported by 32 percent growth in revenues. The company's quarterly earnings grew to $1959 billion from $903 billion in the prior year. Revenue for the first quarter increased to $12.65 billion from $9.57 billion a year ago.
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(RTTNews) - Deere & Co. (DE) shares are gaining more than 5 percent on Friday morning trade after the company reported 117 percent increase in first quarter earnings supported by 32 percent growth in revenues. The company's quarterly earnings grew to $1959 billion from $903 billion in the prior year. Revenue for the first quarter increased to $12.65 billion from $9.57 billion a year ago.
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720784.0
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2023-02-17 00:00:00 UTC
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Deere Stock Raises Outlook and is Ready to Power Higher
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https://www.nasdaq.com/articles/deere-stock-raises-outlook-and-is-ready-to-power-higher
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Deere & Co. (NYSE: DE) stock is up approximately 4% in early trading after the company’s fourth-quarter earnings report. The heavy equipment manufacturer beat on both the top and bottom lines. The report highlights Deere’s ability to pass along at least some of its higher prices to farmers and other customers who are already beset by higher costs.
The company also raised its full-year earnings guidance for 2023. The updated forecast of between $8.75 billion and $9.25 billion is $750 million higher than the midpoint of the guidance it provided in the previous quarter.
The sharp move is welcome news to shareholders. Prior to the move, DE stock was down 6% for the year as investors were concerned about the effects of rising interest rates and inflation on the company’s earnings. That loss nearly exactly correlated with the 7% loss in the S&P 500 so far in 2023. The next question is how high can DE stock go?
Delivering on What They Said
Deere reported top-line revenue of $11.4 billion which beat analysts’ expectations for $11.3 billion. But it was the bottom line that stood out. The company posted $6.55 earnings per share compared to the $5.57 that the street was expecting.
The earnings number looks even better when compared to the $2.92 Deere recorded in the same quarter in 2022. And it confirms what management forecast in their prior earnings report. But that didn’t matter to investors who sold DE stock.
Some of the selling may have come from investors taking profit off the table, and some may have been investors taking a more risk-on approach to equities in the first month of the year.
Both work in favor of DE stock moving higher in the short term. With the company continuing to deliver strong revenue and profit in the face of inflation, Deere is a good reminder of what many investors should be looking for. That is, a company that has products that are in demand and that its customers will continue to buy. And that story will likely remain in place as more of the money from the Infrastructure Act works its way into the economy.
A Low-Risk Investment in AI?
One of the risk-on sectors that is attracting investors like a moth to a flame is artificial intelligence. There are several pure-play companies for speculative investors. But if that’s not your thing, Deere can give you exposure to the sector with less risk.
About a year ago, Deere debuted its fully autonomous tractor at the Consumer Electronics Show (CES) in Las Vegas. Although demand for semiconductor chips may continue to weigh on production, this will likely be a long-term catalyst for the company.
Will DE Stock Make a New 52-Week High?
Deere stock hit its 52-week high of $448.40 in December 2022. If the stock returns to that level, it would be within striking distance of the analysts’ target price of around $459 per share. Let’s take first things first. The current bounce reversed the gap that happened on February 16. The next step is for the stock to overtake the 50-day moving average of around $424. After that the stock would have to climb another 5% to retake the 52-week high.
That seems a little ambitious with sentiment turning in favor of the bears. But Deere is trading at around 17x earnings, which is slightly below the P/E ratio of the S&P 500, which is around 21x. Plus, the company pays a respectable dividend that may reward long-term investors.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Prior to the move, DE stock was down 6% for the year as investors were concerned about the effects of rising interest rates and inflation on the company’s earnings. With the company continuing to deliver strong revenue and profit in the face of inflation, Deere is a good reminder of what many investors should be looking for. About a year ago, Deere debuted its fully autonomous tractor at the Consumer Electronics Show (CES) in Las Vegas.
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Delivering on What They Said Deere reported top-line revenue of $11.4 billion which beat analysts’ expectations for $11.3 billion. Both work in favor of DE stock moving higher in the short term. With the company continuing to deliver strong revenue and profit in the face of inflation, Deere is a good reminder of what many investors should be looking for.
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Deere & Co. (NYSE: DE) stock is up approximately 4% in early trading after the company’s fourth-quarter earnings report. Prior to the move, DE stock was down 6% for the year as investors were concerned about the effects of rising interest rates and inflation on the company’s earnings. With the company continuing to deliver strong revenue and profit in the face of inflation, Deere is a good reminder of what many investors should be looking for.
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Deere & Co. (NYSE: DE) stock is up approximately 4% in early trading after the company’s fourth-quarter earnings report. Prior to the move, DE stock was down 6% for the year as investors were concerned about the effects of rising interest rates and inflation on the company’s earnings. Both work in favor of DE stock moving higher in the short term.
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720785.0
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2023-02-17 00:00:00 UTC
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Deere (DE) Surpasses Q1 Earnings and Revenue Estimates
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DE
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https://www.nasdaq.com/articles/deere-de-surpasses-q1-earnings-and-revenue-estimates
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Deere (DE) came out with quarterly earnings of $6.55 per share, beating the Zacks Consensus Estimate of $5.53 per share. This compares to earnings of $2.92 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 18.44%. A quarter ago, it was expected that this agricultural equipment manufacturer would post earnings of $7.08 per share when it actually produced earnings of $7.44, delivering a surprise of 5.08%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Deere, which belongs to the Zacks Manufacturing - Farm Equipment industry, posted revenues of $11.4 billion for the quarter ended January 2023, surpassing the Zacks Consensus Estimate by 0.84%. This compares to year-ago revenues of $8.53 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Deere shares have lost about 6% since the beginning of the year versus the S&P 500's gain of 6.5%.
What's Next for Deere?
While Deere has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Deere: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $8.11 on $14.61 billion in revenues for the coming quarter and $28.08 on $53.79 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - Farm Equipment is currently in the top 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Titan International (TWI), another stock in the same industry, has yet to report results for the quarter ended December 2022. The results are expected to be released on February 27.
This wheel and tire supplier is expected to post quarterly earnings of $0.45 per share in its upcoming report, which represents a year-over-year change of +15.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Titan International's revenues are expected to be $523.31 million, up 7.3% from the year-ago quarter.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
Titan International, Inc. (TWI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. Deere (DE) came out with quarterly earnings of $6.55 per share, beating the Zacks Consensus Estimate of $5.53 per share. A quarter ago, it was expected that this agricultural equipment manufacturer would post earnings of $7.08 per share when it actually produced earnings of $7.44, delivering a surprise of 5.08%.
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Deere, which belongs to the Zacks Manufacturing - Farm Equipment industry, posted revenues of $11.4 billion for the quarter ended January 2023, surpassing the Zacks Consensus Estimate by 0.84%. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Titan International, Inc. (TWI) : Free Stock Analysis Report To read this article on Zacks.com click here. Deere (DE) came out with quarterly earnings of $6.55 per share, beating the Zacks Consensus Estimate of $5.53 per share.
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Deere (DE) came out with quarterly earnings of $6.55 per share, beating the Zacks Consensus Estimate of $5.53 per share. Deere, which belongs to the Zacks Manufacturing - Farm Equipment industry, posted revenues of $11.4 billion for the quarter ended January 2023, surpassing the Zacks Consensus Estimate by 0.84%. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock.
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Deere (DE) came out with quarterly earnings of $6.55 per share, beating the Zacks Consensus Estimate of $5.53 per share. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. A quarter ago, it was expected that this agricultural equipment manufacturer would post earnings of $7.08 per share when it actually produced earnings of $7.44, delivering a surprise of 5.08%.
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720786.0
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2023-02-17 00:00:00 UTC
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Deere raises 2023 profit forecast on strong demand
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https://www.nasdaq.com/articles/deere-raises-2023-profit-forecast-on-strong-demand
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Adds details from the release including forecast
Feb 17 (Reuters) - Deere & Co DE.Nraised its forecast for the fiscal year 2023, benefiting from strong demand for its farm and construction equipment as well as higher pricing.
The company expects net income of $8.75 billion to $9.25 billion for the year, higher than $8 billion to $8.5 billion estimated previously.
Net income attributable to the company rose to $1.96 billion, or $6.55 per share, for the first quarter ended Jan. 30 from $903 million, or $2.92 per share, a year earlier.
Total net sales and revenue rose to $12.65 billion from $9.57 billion.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Anil D'Silva)
((Aishwarya.Nair@thomsonreuters.com; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details from the release including forecast Feb 17 (Reuters) - Deere & Co DE.Nraised its forecast for the fiscal year 2023, benefiting from strong demand for its farm and construction equipment as well as higher pricing. Net income attributable to the company rose to $1.96 billion, or $6.55 per share, for the first quarter ended Jan. 30 from $903 million, or $2.92 per share, a year earlier. (Reporting by Aishwarya Nair in Bengaluru; Editing by Anil D'Silva) ((Aishwarya.Nair@thomsonreuters.com; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs ;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Net income attributable to the company rose to $1.96 billion, or $6.55 per share, for the first quarter ended Jan. 30 from $903 million, or $2.92 per share, a year earlier. Adds details from the release including forecast Feb 17 (Reuters) - Deere & Co DE.Nraised its forecast for the fiscal year 2023, benefiting from strong demand for its farm and construction equipment as well as higher pricing. The company expects net income of $8.75 billion to $9.25 billion for the year, higher than $8 billion to $8.5 billion estimated previously.
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Net income attributable to the company rose to $1.96 billion, or $6.55 per share, for the first quarter ended Jan. 30 from $903 million, or $2.92 per share, a year earlier. Adds details from the release including forecast Feb 17 (Reuters) - Deere & Co DE.Nraised its forecast for the fiscal year 2023, benefiting from strong demand for its farm and construction equipment as well as higher pricing. The company expects net income of $8.75 billion to $9.25 billion for the year, higher than $8 billion to $8.5 billion estimated previously.
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Adds details from the release including forecast Feb 17 (Reuters) - Deere & Co DE.Nraised its forecast for the fiscal year 2023, benefiting from strong demand for its farm and construction equipment as well as higher pricing. Net income attributable to the company rose to $1.96 billion, or $6.55 per share, for the first quarter ended Jan. 30 from $903 million, or $2.92 per share, a year earlier. The company expects net income of $8.75 billion to $9.25 billion for the year, higher than $8 billion to $8.5 billion estimated previously.
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2023-02-17 00:00:00 UTC
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Deere beats earnings forecast on strong demand, raises 2023 profit outlook
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https://www.nasdaq.com/articles/deere-beats-earnings-forecast-on-strong-demand-raises-2023-profit-outlook
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By Bianca Flowers and Aishwarya Nair
Feb 17 (Reuters) - Deere & Co DE.N raised its annual profit forecast on Friday after beating Wall Street estimates on higher revenue for its high-horsepower tractors and an increase in spending from construction customers.
Shares of the world's largest farm equipment maker were up 5.8% in morning trading.
The industrial bellwether, a barometer for the global economy, has maintained strong profit margins despite recession concerns. Demand from farmers has been strong, after higher commodity prices last year aided producers to purchase new equipment or upgrade their fleets.
Deere's margins have remained high as it has been able to raise prices across its equipment divisions, offsetting rising shipping costs and tight supply chains.
The company expects net income of $8.75 billion to $9.25 billion for the year, higher than the $8 billion to $8.5 billion estimated last quarter.
Analysts believe the revised outlook was due to "a combination of stronger pricing and producing machines on the manufacturing line as efficiently as possible," said Matt Arnold, equity analyst at Edward Jones.
The Moline, Illinois-based company's equipment sales rose 34%, while its production and precision agriculture division saw the most growth, with quarterly sales increasing 55% from the year prior, as the company expands its product portfolio in autonomous solutions for crop planting and harvesting.
Strong pricing for Deere's herbicide applicator products, like See & Spray, helped operating profit in the production and precision agriculture division rise 308% from last year. The company noted that prices for the segment will increase 14% as demand remains solid.
Net sales for the machinery-maker's construction and forestry segment rose 26% year-over-year.
The company's financial services business has been resilient, however, income for the segment in the latest quarter fell to $185 million from $231 million previously.
Deere's equipment revenue for the quarter came in at $11.4 billion, topping Refinitiv analysts' estimates of $11.28 billion.
Net income rose to $1.96 billion, or $6.55 per share, outpacing analysts' estimates of $5.57 earnings per share.
Global net sales and revenue increased 32% to $12.65 billion from $9.57 billion for the first fiscal quarter ending in January.
(Reporting by Aishwarya Nair in Bengaluru, Bianca Flowers in Chicago; Editing by Anil D'Silva and Sharon Singleton)
((Aishwarya.Nair@thomsonreuters.com; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Bianca Flowers and Aishwarya Nair Feb 17 (Reuters) - Deere & Co DE.N raised its annual profit forecast on Friday after beating Wall Street estimates on higher revenue for its high-horsepower tractors and an increase in spending from construction customers. Demand from farmers has been strong, after higher commodity prices last year aided producers to purchase new equipment or upgrade their fleets. Deere's margins have remained high as it has been able to raise prices across its equipment divisions, offsetting rising shipping costs and tight supply chains.
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By Bianca Flowers and Aishwarya Nair Feb 17 (Reuters) - Deere & Co DE.N raised its annual profit forecast on Friday after beating Wall Street estimates on higher revenue for its high-horsepower tractors and an increase in spending from construction customers. The industrial bellwether, a barometer for the global economy, has maintained strong profit margins despite recession concerns. Demand from farmers has been strong, after higher commodity prices last year aided producers to purchase new equipment or upgrade their fleets.
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Deere's equipment revenue for the quarter came in at $11.4 billion, topping Refinitiv analysts' estimates of $11.28 billion. By Bianca Flowers and Aishwarya Nair Feb 17 (Reuters) - Deere & Co DE.N raised its annual profit forecast on Friday after beating Wall Street estimates on higher revenue for its high-horsepower tractors and an increase in spending from construction customers. The industrial bellwether, a barometer for the global economy, has maintained strong profit margins despite recession concerns.
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The company noted that prices for the segment will increase 14% as demand remains solid. By Bianca Flowers and Aishwarya Nair Feb 17 (Reuters) - Deere & Co DE.N raised its annual profit forecast on Friday after beating Wall Street estimates on higher revenue for its high-horsepower tractors and an increase in spending from construction customers. The industrial bellwether, a barometer for the global economy, has maintained strong profit margins despite recession concerns.
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2023-02-17 00:00:00 UTC
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Imports & Exports Shrink; Deere (DE) Easily Beats Q1 Estimate
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https://www.nasdaq.com/articles/imports-exports-shrink-deere-de-easily-beats-q1-estimate
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Friday, February 17th, 2023
It’s been an eventful week in the markets as Q4 earnings season heads into its home stretch and major reports like CPI and PPI mapped economic developments over the recent past. The consumer has held up its end, but prices remain stubbornly high. Perhaps we’ve experienced a stutter between legs-down — we’ve seen this at various times during the draw-down from peak inflation in 2022 — but only time will really tell.
In any case, market indices are lower in today’s pre-market: the Dow is -107 points, the S&P 500 -23 and the Nasdaq -90 points at this hour. Ultimately, we’ve been in a hodgepodge trading environment of late, with the Dow looking to finish its third straight week in the red (four of the last five weeks) while the Nasdaq looks to add its sixth week in the green of the last seven. Overall, the strong tech narrative for 2023 remains intact.
Import Prices for January came in lighter than expected: -0.2% on the headline was lower than -0.1% expected and +0.4% posted the previous month. Year over year, imports are running -4.9% lower. On the Exports side, we see +0.8% year over year growth, which is the lowest print since the pandemic year 2020. Overall, we add these figures to the “inflation coming down” column, which is good when considering the forward outlook of interest rates.
This week has also seen a shift in understanding regarding where the Fed funds rate is headed, and how soon it will get there. Two non-voting members of the Fed — St Louis’ James Bullard and Cleveland’s Loretta Mester — were both clear advocates of a 50 bps hike at the March 22nd Fed meeting; Fed Chair Powell had earlier indicated a 25 bps hike was likely. Another 25 bps hike was also being priced-in for the following meeting in early May, although now we’re hearing about the possibility of another 25 bps June hike. Either way you slice it, 5.50% looks to be in the cards — potentially.
Zacks Rank #2 (Buy)-rated heavy machinery manufacturer Deere & Co. DE posted one of the strongest earnings reports of the week with its fiscal Q1 print ahead of today’s opening bell: earnings of $6.55 per share easily swept past the $5.53 expected and the $2.29 per share reported in the year-ago quarter. Revenues of $11.40 also beat expectations, albeit by a narrower margin: +0.84%. Deere share also raised guidance, and shares are climbing nearly +4% in pre-market activity; the stock had sold off -6% year to date.
We hope you’ll be able to enjoy the three-day weekend as we here at Zacks will, in recognition of Presidents Day in the U.S. Markets and banks will also be closed until Tuesday. Economic reports will continue through next week, with PMI Manufacturing and Services, the first revision to Q4 GDP, and January PCE and Consumer Spending prints are all due, in addition to Weekly Jobless Claims. Stay warm!
Questions or comments about this article and/or its author? Click here>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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Deere & Company (DE) : Free Stock Analysis Report
Invesco QQQ (QQQ): ETF Research Reports
SPDR S&P 500 ETF (SPY): ETF Research Reports
SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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It’s been an eventful week in the markets as Q4 earnings season heads into its home stretch and major reports like CPI and PPI mapped economic developments over the recent past. Zacks Rank #2 (Buy)-rated heavy machinery manufacturer Deere & Co. DE posted one of the strongest earnings reports of the week with its fiscal Q1 print ahead of today’s opening bell: earnings of $6.55 per share easily swept past the $5.53 expected and the $2.29 per share reported in the year-ago quarter. We hope you’ll be able to enjoy the three-day weekend as we here at Zacks will, in recognition of Presidents Day in the U.S. Markets and banks will also be closed until Tuesday.
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Zacks Rank #2 (Buy)-rated heavy machinery manufacturer Deere & Co. DE posted one of the strongest earnings reports of the week with its fiscal Q1 print ahead of today’s opening bell: earnings of $6.55 per share easily swept past the $5.53 expected and the $2.29 per share reported in the year-ago quarter. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports To read this article on Zacks.com click here. It’s been an eventful week in the markets as Q4 earnings season heads into its home stretch and major reports like CPI and PPI mapped economic developments over the recent past.
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Zacks Rank #2 (Buy)-rated heavy machinery manufacturer Deere & Co. DE posted one of the strongest earnings reports of the week with its fiscal Q1 print ahead of today’s opening bell: earnings of $6.55 per share easily swept past the $5.53 expected and the $2.29 per share reported in the year-ago quarter. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports To read this article on Zacks.com click here. It’s been an eventful week in the markets as Q4 earnings season heads into its home stretch and major reports like CPI and PPI mapped economic developments over the recent past.
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This week has also seen a shift in understanding regarding where the Fed funds rate is headed, and how soon it will get there. Zacks Rank #2 (Buy)-rated heavy machinery manufacturer Deere & Co. DE posted one of the strongest earnings reports of the week with its fiscal Q1 print ahead of today’s opening bell: earnings of $6.55 per share easily swept past the $5.53 expected and the $2.29 per share reported in the year-ago quarter. It’s been an eventful week in the markets as Q4 earnings season heads into its home stretch and major reports like CPI and PPI mapped economic developments over the recent past.
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2023-02-16 00:00:00 UTC
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Pre-Market Earnings Report for February 17, 2023 : DE, PPL, CNP, LBRDK, AN, ABR, B, MD, ASIX, AXL, COWN, AMCX
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https://www.nasdaq.com/articles/pre-market-earnings-report-for-february-17-2023-%3A-de-ppl-cnp-lbrdk-an-abr-b-md-asix-axl-0
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The following companies are expected to report earnings prior to market open on 02/17/2023. Visit our Earnings Calendar for a full list of expected earnings releases.
Deere & Company (DE)is reporting for the quarter ending January 31, 2023. The farm machinery company's consensus earnings per share forecast from the 13 analysts that follow the stock is $5.53. This value represents a 89.38% increase compared to the same quarter last year. DE missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -7.23%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for DE is 14.60 vs. an industry ratio of 10.60, implying that they will have a higher earnings growth than their competitors in the same industry.
PPL Corporation (PPL)is reporting for the quarter ending December 31, 2022. The electric power utilities company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.28. This value represents a 27.27% increase compared to the same quarter last year. PPL missed the consensus earnings per share in the 4th calendar quarter of 2021 by -26.67%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for PPL is 20.49 vs. an industry ratio of 8.90, implying that they will have a higher earnings growth than their competitors in the same industry.
CenterPoint Energy, Inc. (CNP)is reporting for the quarter ending December 31, 2022. The electric power utilities company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.29. This value represents a 19.44% decrease compared to the same quarter last year. CNP missed the consensus earnings per share in the 1st calendar quarter of 2022 by -2.08%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for CNP is 20.96 vs. an industry ratio of 8.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Liberty Broadband Corporation (LBRDK)is reporting for the quarter ending December 31, 2022. The cable tv company's consensus earnings per share forecast from the 2 analysts that follow the stock is $1.80. This value represents a 14.69% decrease compared to the same quarter last year. In the past year LBRDK has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 18.5%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for LBRDK is 11.15 vs. an industry ratio of 15.60.
AutoNation, Inc. (AN)is reporting for the quarter ending December 31, 2022. The retail company's consensus earnings per share forecast from the 6 analysts that follow the stock is $5.89. This value represents a 2.26% increase compared to the same quarter last year. AN missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -5.06%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for AN is 5.82 vs. an industry ratio of 9.40.
Arbor Realty Trust (ABR)is reporting for the quarter ending December 31, 2022. The reit company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.46. This value represents a 17.86% decrease compared to the same quarter last year. In the past year ABR has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 25%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABR is 7.43 vs. an industry ratio of 14.10.
Barnes Group, Inc. (B)is reporting for the quarter ending December 31, 2022. The machinery company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.48. This value represents a 12.73% decrease compared to the same quarter last year. In the past year B has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 2.08%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for B is 22.84 vs. an industry ratio of 19.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Pediatrix Medical Group, Inc. (MD)is reporting for the quarter ending December 31, 2022. The medical services company's consensus earnings per share forecast from the 7 analysts that follow the stock is $0.46. This value represents a 8.00% decrease compared to the same quarter last year. MD missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -24.49%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for MD is 9.69 vs. an industry ratio of -6.60, implying that they will have a higher earnings growth than their competitors in the same industry.
AdvanSix Inc. (ASIX)is reporting for the quarter ending December 31, 2022. The chemical company's consensus earnings per share forecast from the 3 analysts that follow the stock is $1.50. This value represents a 87.50% increase compared to the same quarter last year. ASIX missed the consensus earnings per share in the 4th calendar quarter of 2021 by -1.23%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ASIX is 6.67 vs. an industry ratio of 8.90.
American Axle & Manufacturing Holdings, Inc. (AXL)is reporting for the quarter ending December 31, 2022. The auto (truck) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.01. This value represents a 111.11% increase compared to the same quarter last year. AXL missed the consensus earnings per share in the 4th calendar quarter of 2021 by -325%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for AXL is 14.35 vs. an industry ratio of 7.10, implying that they will have a higher earnings growth than their competitors in the same industry.
Cowen Inc. (COWN)is reporting for the quarter ending December 31, 2022. The investment bankers company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.13. This value represents a 95.31% decrease compared to the same quarter last year. COWN missed the consensus earnings per share in the 2nd calendar quarter of 2022 by -20%. The "days to cover" for this stock exceeds 24 days. Zacks Investment Research reports that the 2022 Price to Earnings ratio for COWN is 16.37 vs. an industry ratio of 12.90, implying that they will have a higher earnings growth than their competitors in the same industry.
AMC Networks Inc. (AMCX)is reporting for the quarter ending December 31, 2022. The broadcast (radio/tv) company's consensus earnings per share forecast from the 2 analysts that follow the stock is $1.23. This value represents a 127.78% increase compared to the same quarter last year. In the past year AMCX has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 5.03%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for AMCX is 2.56 vs. an industry ratio of 3.80.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Deere & Company (DE)is reporting for the quarter ending January 31, 2023. DE missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -7.23%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for DE is 14.60 vs. an industry ratio of 10.60, implying that they will have a higher earnings growth than their competitors in the same industry.
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Zacks Investment Research reports that the 2023 Price to Earnings ratio for DE is 14.60 vs. an industry ratio of 10.60, implying that they will have a higher earnings growth than their competitors in the same industry. Deere & Company (DE)is reporting for the quarter ending January 31, 2023. DE missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -7.23%.
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Deere & Company (DE)is reporting for the quarter ending January 31, 2023. DE missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -7.23%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for DE is 14.60 vs. an industry ratio of 10.60, implying that they will have a higher earnings growth than their competitors in the same industry.
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Deere & Company (DE)is reporting for the quarter ending January 31, 2023. DE missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -7.23%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for DE is 14.60 vs. an industry ratio of 10.60, implying that they will have a higher earnings growth than their competitors in the same industry.
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64e9f052-74e0-4dc1-a9c8-86fc7610988c
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720790.0
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2023-02-16 00:00:00 UTC
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Time to Buy Deere (DE) Stock with Earnings Approaching?
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DE
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https://www.nasdaq.com/articles/time-to-buy-deere-de-stock-with-earnings-approaching
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nan
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nan
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Industrial products giant Deere & Company (DE) is set to round out this week’s earnings lineup with its fiscal first quarter report on Friday, February 17.
As one of the larger components of the S&P 500 and the world’s largest producer of agricultural equipment Deere’s Q1 earnings are much anticipated.
Let’s take a look at what’s going on with Deere stock before its quarterly report.
Overview & Sentiment
Deere’s Manufacturing – Farm Equipment Industry is currently in the top 14% of over 250 Zacks Industries indicating that the company should be able to benefit from a strong business environment at the moment.
This is very intriguing with Deere being the industry leader, mostly attributed to its farm machinery having advanced features and superior construction to its competitors.
Image Source: Zacks Investment Research
Most known for its famous tractors, Deere is a leader and innovator in harvesting equipment, planting equipment, seeding equipment, and precision AG technology that allows farmers to monitor, manage, and maximize farm operations.
Furthermore, Deere and construction and mining equipment manufacturer Caterpillar (CAT) typically set the barometer of excellence in the broader industrial products sector.
Q1 Preview & Outlook
Deere’s Q1 earnings are projected at $5.53 per share, which would be an 89% increase from Q1 2022 EPS of $2.92 a share. Sales for the quarter are expected to be $11.31 billion, up 32% from the prior year quarter.
Image Source: Zacks Investment Research
Deere’s earnings are now forecasted to jump 20% to $28.08 a share in fiscal 2023 compared to EPS of $23.28 in 2022. Earnings are expected to rise another 4% in FY24. Even better, earnings estimate revisions have continued to trend higher for both FY23 and FY24.
On the top line, sales are forecasted to be up 12% in FY23 and rise another 2% in FY24 to $54.72 billion. More impressive, Fiscal 2024 would represent 39% growth from pre-pandemic levels with 2019 sales at $39.25 billion.
Image Source: Zacks Investment Research
Deere Earnings ESP
The Zacks Surprise Prediction indicates Deere could significantly beat quarterly expectations on its bottom line with the Zacks Consensus for Q1 EPS at $5.53 and the Most Accurate Consensus at $5.68 a share.
Image Source: Zacks Investment Research
Performance & Valuation
In the last year, Deere stock is up +7% to outperform the S&P 500 and the Machinery Farm Markets -7% performances but this has trailed fellow industrial products giant Caterpillar’s +17%. However, over the last decade, Deere’s +473% total return including dividends has topped Caterpillar, the benchmark, and its Zacks Subindustry’s +354%.
Image Source: Zacks Investment Research
Deere stock currently trades around $408 per share and 14.6X forward earnings. This is slightly above the industry average of 13.8X but Deere & Co is a proven leader in its space. Plus, DE stock trades 54% below its decade high of 31.8X and at a 12% discount to the median of 16.6X.
Image Source: Zacks Investment Research
Dividends
Thriving business can lead to dividend increases and this has been the case for Deere stock with the company raising its yield by 6% (7 cents per share) in December. Deere now has a 1.17% dividend yield which is above the industry average of 1.12%.
Image Source: Zacks Investment Research
Bottom Line
Deere stock currently sports a Zacks Rank #2 (Buy) heading into its fiscal first-quarter earnings report. The top and bottom line growth continues to be impressive in addition to DE trading attractively relative to its past from a valuation standpoint.
Lastly, it does appear that Deere may offer strong guidance as earnings estimate revisions have continued to trend higher, and if the company can also top quarterly expectations DE stock could see some nice rallies to the upside.
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The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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Deere & Company (DE) : Free Stock Analysis Report
Caterpillar Inc. (CAT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Industrial products giant Deere & Company (DE) is set to round out this week’s earnings lineup with its fiscal first quarter report on Friday, February 17. Furthermore, Deere and construction and mining equipment manufacturer Caterpillar (CAT) typically set the barometer of excellence in the broader industrial products sector. Lastly, it does appear that Deere may offer strong guidance as earnings estimate revisions have continued to trend higher, and if the company can also top quarterly expectations DE stock could see some nice rallies to the upside.
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Image Source: Zacks Investment Research Deere Earnings ESP The Zacks Surprise Prediction indicates Deere could significantly beat quarterly expectations on its bottom line with the Zacks Consensus for Q1 EPS at $5.53 and the Most Accurate Consensus at $5.68 a share. Lastly, it does appear that Deere may offer strong guidance as earnings estimate revisions have continued to trend higher, and if the company can also top quarterly expectations DE stock could see some nice rallies to the upside. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Caterpillar Inc. (CAT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Deere Earnings ESP The Zacks Surprise Prediction indicates Deere could significantly beat quarterly expectations on its bottom line with the Zacks Consensus for Q1 EPS at $5.53 and the Most Accurate Consensus at $5.68 a share. Image Source: Zacks Investment Research Bottom Line Deere stock currently sports a Zacks Rank #2 (Buy) heading into its fiscal first-quarter earnings report. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Caterpillar Inc. (CAT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Deere stock currently trades around $408 per share and 14.6X forward earnings. Lastly, it does appear that Deere may offer strong guidance as earnings estimate revisions have continued to trend higher, and if the company can also top quarterly expectations DE stock could see some nice rallies to the upside. Industrial products giant Deere & Company (DE) is set to round out this week’s earnings lineup with its fiscal first quarter report on Friday, February 17.
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7c0e7762-e03c-454b-8c53-9f13daaa48b1
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720791.0
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2023-02-16 00:00:00 UTC
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Pre-Market Earnings Report for February 17, 2023 : DE, PPL, CNP, LBRDK, AN, ABR, B, MD, ASIX, AXL, COWN, AMCX
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DE
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https://www.nasdaq.com/articles/pre-market-earnings-report-for-february-17-2023-%3A-de-ppl-cnp-lbrdk-an-abr-b-md-asix-axl
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nan
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nan
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The following companies are expected to report earnings prior to market open on 02/17/2023. Visit our Earnings Calendar for a full list of expected earnings releases.
Deere & Company (DE)is reporting for the quarter ending January 31, 2023. The farm machinery company's consensus earnings per share forecast from the 13 analysts that follow the stock is $5.53. This value represents a 89.38% increase compared to the same quarter last year. DE missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -7.23%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for DE is 14.60 vs. an industry ratio of 10.60, implying that they will have a higher earnings growth than their competitors in the same industry.
PPL Corporation (PPL)is reporting for the quarter ending December 31, 2022. The electric power utilities company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.28. This value represents a 27.27% increase compared to the same quarter last year. PPL missed the consensus earnings per share in the 4th calendar quarter of 2021 by -26.67%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for PPL is 20.49 vs. an industry ratio of 8.90, implying that they will have a higher earnings growth than their competitors in the same industry.
CenterPoint Energy, Inc. (CNP)is reporting for the quarter ending December 31, 2022. The electric power utilities company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.29. This value represents a 19.44% decrease compared to the same quarter last year. CNP missed the consensus earnings per share in the 1st calendar quarter of 2022 by -2.08%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for CNP is 20.96 vs. an industry ratio of 8.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Liberty Broadband Corporation (LBRDK)is reporting for the quarter ending December 31, 2022. The cable tv company's consensus earnings per share forecast from the 2 analysts that follow the stock is $1.80. This value represents a 14.69% decrease compared to the same quarter last year. In the past year LBRDK has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 18.5%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for LBRDK is 11.15 vs. an industry ratio of 15.60.
AutoNation, Inc. (AN)is reporting for the quarter ending December 31, 2022. The retail company's consensus earnings per share forecast from the 6 analysts that follow the stock is $5.89. This value represents a 2.26% increase compared to the same quarter last year. AN missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -5.06%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for AN is 5.82 vs. an industry ratio of 9.40.
Arbor Realty Trust (ABR)is reporting for the quarter ending December 31, 2022. The reit company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.46. This value represents a 17.86% decrease compared to the same quarter last year. In the past year ABR has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 25%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABR is 7.43 vs. an industry ratio of 14.10.
Barnes Group, Inc. (B)is reporting for the quarter ending December 31, 2022. The machinery company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.48. This value represents a 12.73% decrease compared to the same quarter last year. In the past year B has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 2.08%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for B is 22.84 vs. an industry ratio of 19.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Pediatrix Medical Group, Inc. (MD)is reporting for the quarter ending December 31, 2022. The medical services company's consensus earnings per share forecast from the 7 analysts that follow the stock is $0.46. This value represents a 8.00% decrease compared to the same quarter last year. MD missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -24.49%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for MD is 9.69 vs. an industry ratio of -6.60, implying that they will have a higher earnings growth than their competitors in the same industry.
AdvanSix Inc. (ASIX)is reporting for the quarter ending December 31, 2022. The chemical company's consensus earnings per share forecast from the 3 analysts that follow the stock is $1.50. This value represents a 87.50% increase compared to the same quarter last year. ASIX missed the consensus earnings per share in the 4th calendar quarter of 2021 by -1.23%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ASIX is 6.67 vs. an industry ratio of 8.90.
American Axle & Manufacturing Holdings, Inc. (AXL)is reporting for the quarter ending December 31, 2022. The auto (truck) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.01. This value represents a 111.11% increase compared to the same quarter last year. AXL missed the consensus earnings per share in the 4th calendar quarter of 2021 by -325%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for AXL is 14.35 vs. an industry ratio of 7.10, implying that they will have a higher earnings growth than their competitors in the same industry.
Cowen Inc. (COWN)is reporting for the quarter ending December 31, 2022. The investment bankers company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.13. This value represents a 95.31% decrease compared to the same quarter last year. COWN missed the consensus earnings per share in the 2nd calendar quarter of 2022 by -20%. The "days to cover" for this stock exceeds 24 days. Zacks Investment Research reports that the 2022 Price to Earnings ratio for COWN is 16.37 vs. an industry ratio of 12.90, implying that they will have a higher earnings growth than their competitors in the same industry.
AMC Networks Inc. (AMCX)is reporting for the quarter ending December 31, 2022. The broadcast (radio/tv) company's consensus earnings per share forecast from the 2 analysts that follow the stock is $1.23. This value represents a 127.78% increase compared to the same quarter last year. In the past year AMCX has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 5.03%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for AMCX is 2.56 vs. an industry ratio of 3.80.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Deere & Company (DE)is reporting for the quarter ending January 31, 2023. DE missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -7.23%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for DE is 14.60 vs. an industry ratio of 10.60, implying that they will have a higher earnings growth than their competitors in the same industry.
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Zacks Investment Research reports that the 2023 Price to Earnings ratio for DE is 14.60 vs. an industry ratio of 10.60, implying that they will have a higher earnings growth than their competitors in the same industry. Deere & Company (DE)is reporting for the quarter ending January 31, 2023. DE missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -7.23%.
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Deere & Company (DE)is reporting for the quarter ending January 31, 2023. DE missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -7.23%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for DE is 14.60 vs. an industry ratio of 10.60, implying that they will have a higher earnings growth than their competitors in the same industry.
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Deere & Company (DE)is reporting for the quarter ending January 31, 2023. DE missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -7.23%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for DE is 14.60 vs. an industry ratio of 10.60, implying that they will have a higher earnings growth than their competitors in the same industry.
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bc5d03fa-4bf4-4e42-a320-158972c4dae0
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720792.0
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2023-02-16 00:00:00 UTC
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Why Deere & Company (DE) Might Surprise This Earnings Season
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DE
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https://www.nasdaq.com/articles/why-deere-company-de-might-surprise-this-earnings-season
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nan
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nan
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Investors are always looking for stocks that are poised to beat at earnings season and Deere & Company DE may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Deere & Company is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for DE in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at $5.68 per share for DE, compared to a broader Zacks Consensus Estimate of $5.53 per share. This suggests that analysts have very recently bumped up their estimates for DE, giving the stock a Zacks Earnings ESP of +2.74% heading into earnings season.
Deere & Company Price and EPS Surprise
Deere & Company price-eps-surprise | Deere & Company Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that DE has a Zacks Rank #2 (Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Deere & Company, and that a beat might be in the cards for the upcoming report.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for DE in this report. Clearly, recent earnings estimate revisions suggest that good things are ahead for Deere & Company, and that a beat might be in the cards for the upcoming report. Investors are always looking for stocks that are poised to beat at earnings season and Deere & Company DE may be one such company.
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Clearly, recent earnings estimate revisions suggest that good things are ahead for Deere & Company, and that a beat might be in the cards for the upcoming report. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report To read this article on Zacks.com click here. Investors are always looking for stocks that are poised to beat at earnings season and Deere & Company DE may be one such company.
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Investors are always looking for stocks that are poised to beat at earnings season and Deere & Company DE may be one such company. This suggests that analysts have very recently bumped up their estimates for DE, giving the stock a Zacks Earnings ESP of +2.74% heading into earnings season. That is because Deere & Company is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat.
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Given that DE has a Zacks Rank #2 (Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. Clearly, recent earnings estimate revisions suggest that good things are ahead for Deere & Company, and that a beat might be in the cards for the upcoming report. Investors are always looking for stocks that are poised to beat at earnings season and Deere & Company DE may be one such company.
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de36847d-c5b6-41d0-ad4f-b55f8a2e1b78
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720793.0
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2023-02-16 00:00:00 UTC
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H&E Equipment (HEES) to Report Q4 Earnings: What's in Store?
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DE
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https://www.nasdaq.com/articles/he-equipment-hees-to-report-q4-earnings%3A-whats-in-store
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nan
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nan
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H&E Equipment Services HEES is scheduled to report fourth-quarter 2022 results on Feb 22, before the opening bell.
Q4 Estimates
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $327 million, suggesting growth of 16.4% from the year-ago reported figure. The Zacks Consensus Estimate for quarterly earnings is pinned at $1.01 per share, indicating a year-over-year surge of 71.2%.
Q3 Performance
H&E Equipment’s third-quarter 2022 revenues and earnings increased year over year. The company also beat the Zacks Consensus Estimate on both metrics. It has a trailing four-quarter earnings surprise of 41.7%, on average.
H&E Equipment Services, Inc. Price and EPS Surprise
H&E Equipment Services, Inc. price-eps-surprise | H&E Equipment Services, Inc. Quote
What the Zacks Model Indicates
Our proven model doesn’t conclusively predict an earnings beat for H&E Equipment this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that’s not the case here.
Earnings ESP: HEES has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Key Factors to Note
In the first nine months of 2022, HEES witnessed 14% growth in total revenues, mainly driven by equipment rental revenues, which increased 29% year over year and helped offset lower sales of used equipment and parts. The increase in equipment rental revenues was primarily attributed to the company’s growing fleet, appreciation in rental rates and improved demand from the prior year. This is likely to have continued in the fourth quarter as well.
Year 2022 was robust for the company in terms of fleet growth and branch expansion. Meanwhile, HEES has been witnessing lower sales of used equipment mainly due to the elevated rental demand. Higher revenues from rentals are expected to have offset the impacts of weak used equipment sales in the quarter.
The Zacks Consensus Estimate for the Total Equipment Rental revenues for the fourth quarter is pegged at $253 million, suggesting growth of 24% from the prior-year period’s reported figure.
The projection for New Equipment Sales is at $21.4 million, indicating a 5% year-over-year drop. The estimate for used equipment sales is projected to decline 20% to $23.6 million. The Zacks Consensus Estimate for Part Sales is pegged at $16 million, indicating 2% year-over-year growth. Service Revenues are expected to grow 2% year over year to $8.5 million. Other revenues are likely to grow 5% to $1.6 million.
The company’s acquisition of One Source Equipment Rentals, which added 10 equipment rental locations to its branch network as well as approximately $138 million in the fleet as measured by original equipment cost, is also expected to have contributed to its top-line performance in the quarter.
The company’s gross margin in the fourth quarter of 2022 is likely to reflect higher margins for rentals, rental other and used equipment sales. Selling, General and Administrative expenses are, however, likely to increase on incased employee-related expenses, higher facility expenses, as well as branch openings. However, gains from higher revenues and gross margins are expected to have negated the impact on its earnings.
Price Performance
Image Source: Zacks Investment Research
In the past year, shares of HEES have gained 29.8% against the industry’s 19.2% growth.
Stocks Poised to Beat Earnings Estimates
Here are some Industrial Products stocks, which, according to our model, have the right combination of elements to post an earnings beat in their upcoming releases:
Allegion plc ALLE has an Earnings ESP of +4.19% and currently sports a Zacks Rank of 1. The Zacks Consensus Estimate for fourth-quarter 2022 earnings has been unchanged in the past 30 days and is pegged at $1.37 per share. This suggests year-over-year growth of 23.4%
The Zacks Consensus Estimate for ALLE’s quarterly revenues is pegged at $849 million, indicating year-over-year growth of 19.7%. ALLE has a trailing four-quarter earnings surprise of 8.8%, on average.
Deere & Co. DE currently has an Earnings ESP of +2.30% and a Zacks Rank of 2. The Zacks Consensus Estimate for DE’s first-quarter fiscal 2023 earnings has been unchanged in the past 30 days and is pegged at $5.51 per share. The consensus mark suggests year-over-year growth of 88.7%.
The Zacks Consensus Estimate for DE’s quarterly revenues is pegged at $11.4 billion, indicating growth of 33.9% from the prior-year quarter’s reported level. DE has a trailing four-quarter earnings surprise of 7.1%, on average.
Flowserve FLS currently has an Earnings ESP of +15.65% and a Zacks Rank of 3. The Zacks Consensus Estimate for fourth-quarter 2022 earnings has moved up 21% in the past 30 days and is pegged at 52 cents per share. This suggests year-over-year growth of 15.6%.
The Zacks Consensus Estimate for quarterly revenues is pegged at $1.01 billion, indicating growth of 10.3% from the prior-year quarter’s reported level.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
Flowserve Corporation (FLS) : Free Stock Analysis Report
H&E Equipment Services, Inc. (HEES) : Free Stock Analysis Report
Allegion PLC (ALLE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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H&E Equipment Services, Inc. Price and EPS Surprise H&E Equipment Services, Inc. price-eps-surprise | H&E Equipment Services, Inc. Quote What the Zacks Model Indicates Our proven model doesn’t conclusively predict an earnings beat for H&E Equipment this time around. The increase in equipment rental revenues was primarily attributed to the company’s growing fleet, appreciation in rental rates and improved demand from the prior year. Meanwhile, HEES has been witnessing lower sales of used equipment mainly due to the elevated rental demand.
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Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Flowserve Corporation (FLS) : Free Stock Analysis Report H&E Equipment Services, Inc. (HEES) : Free Stock Analysis Report Allegion PLC (ALLE) : Free Stock Analysis Report To read this article on Zacks.com click here. H&E Equipment Services, Inc. Price and EPS Surprise H&E Equipment Services, Inc. price-eps-surprise | H&E Equipment Services, Inc. Quote What the Zacks Model Indicates Our proven model doesn’t conclusively predict an earnings beat for H&E Equipment this time around. The increase in equipment rental revenues was primarily attributed to the company’s growing fleet, appreciation in rental rates and improved demand from the prior year.
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H&E Equipment Services, Inc. Price and EPS Surprise H&E Equipment Services, Inc. price-eps-surprise | H&E Equipment Services, Inc. Quote What the Zacks Model Indicates Our proven model doesn’t conclusively predict an earnings beat for H&E Equipment this time around. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Flowserve Corporation (FLS) : Free Stock Analysis Report H&E Equipment Services, Inc. (HEES) : Free Stock Analysis Report Allegion PLC (ALLE) : Free Stock Analysis Report To read this article on Zacks.com click here. The increase in equipment rental revenues was primarily attributed to the company’s growing fleet, appreciation in rental rates and improved demand from the prior year.
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H&E Equipment Services, Inc. Price and EPS Surprise H&E Equipment Services, Inc. price-eps-surprise | H&E Equipment Services, Inc. Quote What the Zacks Model Indicates Our proven model doesn’t conclusively predict an earnings beat for H&E Equipment this time around. The increase in equipment rental revenues was primarily attributed to the company’s growing fleet, appreciation in rental rates and improved demand from the prior year. Meanwhile, HEES has been witnessing lower sales of used equipment mainly due to the elevated rental demand.
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cf26b708-f92b-4514-86d8-92fce5327f35
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720794.0
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2023-02-16 00:00:00 UTC
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Validea Daily Guru Fundamental Report for DE - 2/16/2023
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DE
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https://www.nasdaq.com/articles/validea-daily-guru-fundamental-report-for-de-2-16-2023
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nan
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nan
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Below is Validea's daily guru fundamental report for DEERE & COMPANY (DE). Of the 22 guru strategies we follow, DE rates highest using our Earnings Revision Investor model based on the published strategy of Wayne Thorp. This strategy looks for companies with upward revisions in analyst earnings estimates.
DEERE & COMPANY (DE) is a large-cap growth stock in the Constr. & Agric. Machinery industry. The rating using this strategy is 100% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Deere & Company is engaged in the delivery of agricultural, construction, and forestry equipment. The Company's Production & precision agriculture segment develops and delivers global equipment and technology solutions to growers of large grains, small grains, cotton, and sugarcane. The Small agriculture & turf segment develops and delivers global equipment and technology solutions to dairy and livestock producers, high-value crop producers, and turf and utility customers. The Construction and Forestry segment develops and delivers a range of machines and technology solutions organized along the earthmoving, forestry, and roadbuilding production systems. The Financial Services segment finances sales and leases by John Deere dealers of new and used production and precision agriculture equipment, small agriculture and turf equipment and construction and forestry equipment. Its technology-enabled products include John Deere Autonomous 8R Tractor, See & Spray and E-Power Backhoe.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
ANALYST COVERAGE: PASS
CURRENT YEAR ESTIMATE REVISIONS: PASS
NEXT YEAR ESTIMATE REVISIONS: PASS
CURRENT YEAR UP AND DOWN REVISIONS: PASS
NEXT YEAR UP AND DOWN REVISIONS: PASS
Detailed Analysis of DEERE & COMPANY
DE Guru Analysis
DE Fundamental Analysis
Wayne Thorp Portfolio
About Wayne Thorp: Wayne Thorp is a Vice President and financial analyst with the American Association of Individual Investors. He is an expert on quantitative investing and has played a significant role in the development of the AAII stock screening and model portfolio products. He has also earned the Chartered Financial Analyst designation from the CFA Insitute and is a graduate of DePaul University.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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He is an expert on quantitative investing and has played a significant role in the development of the AAII stock screening and model portfolio products. He has also earned the Chartered Financial Analyst designation from the CFA Insitute and is a graduate of DePaul University. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig.
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The Company's Production & precision agriculture segment develops and delivers global equipment and technology solutions to growers of large grains, small grains, cotton, and sugarcane. The Small agriculture & turf segment develops and delivers global equipment and technology solutions to dairy and livestock producers, high-value crop producers, and turf and utility customers. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis Wayne Thorp Portfolio About Wayne Thorp: Wayne Thorp is a Vice President and financial analyst with the American Association of Individual Investors.
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Of the 22 guru strategies we follow, DE rates highest using our Earnings Revision Investor model based on the published strategy of Wayne Thorp. The Financial Services segment finances sales and leases by John Deere dealers of new and used production and precision agriculture equipment, small agriculture and turf equipment and construction and forestry equipment. Detailed Analysis of DEERE & COMPANY DE Guru Analysis DE Fundamental Analysis Wayne Thorp Portfolio About Wayne Thorp: Wayne Thorp is a Vice President and financial analyst with the American Association of Individual Investors.
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Below is Validea's daily guru fundamental report for DEERE & COMPANY (DE). Of the 22 guru strategies we follow, DE rates highest using our Earnings Revision Investor model based on the published strategy of Wayne Thorp. The Financial Services segment finances sales and leases by John Deere dealers of new and used production and precision agriculture equipment, small agriculture and turf equipment and construction and forestry equipment.
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b14fa620-3d03-4dec-9b8d-688e13d90d96
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720795.0
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2023-02-15 00:00:00 UTC
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Why Deere (NYSE:DE) May be the Most Important AI Stock Now
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DE
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https://www.nasdaq.com/articles/why-deere-nyse%3Ade-may-be-the-most-important-ai-stock-now
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nan
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nan
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While agricultural equipment manufacturer Deere (NYSE:DE) represents a vital cog in U.S. infrastructure, it may also be the most important artificial intelligence (AI) investment right now. Last year, the company introduced an AI-empowered fully-autonomous tractor that can positively disrupt the agricultural industry. Further, Deere offers exposure to practical AI-integrated applications while delivering on its core relevant business. I am bullish on DE stock.
During a press conference at the 2022 edition of the Consumer Electronics Show, Deere revealed its autonomous tractor that stood ready for large-scale production. Leveraging the company’s 8R tractor series, the innovation incorporates a GPS guidance system and several advanced technologies. Further, it features six pairs of stereo cameras, enabling 360-degree obstacle detection and the calculation of distance.
Adding to the credibility of DE stock representing a new brand of AI investment, the autonomous tractor carries a deep neural network, analyzing each pixel in approximately 100 milliseconds for trajectory determination purposes. In other words, the tractor thinks on its own, achieving its objectives without damage to people, property, and living assets.
Aside from the innovation itself, what makes DE stock so compelling centers on implied viability. With pure-play AI stocks, the investment thesis focuses on the narrative. If the narrative pans out, stakeholders may enjoy incredible rewards. However, pure-play innovators tend to be wildly risky.
With DE stock, the underlying enterprise is already established. Therefore, even if the AI component fails, investors can always fall back on a proven business model.
Adding to DE's bull case, on TipRanks, DE stock has a 'Perfect 10' Smart Score rating. This indicates strong potential for the stock to outperform the broader market.
DE Stock Marries the Innovative with the Practical
Primarily, the bullish thesis undergirding DE stock stems from the marriage of innovation with practicality. Too many times, innovators market their ware under the constraints of granular or esoteric ecosystems. As a result, it’s difficult to determine if the AI or machine learning protocol sparked the advertised improvement.
With Deere’s autonomous tractor, the proof is in the pudding. Either the tractor is autonomous and does what it’s supposed to do, or it doesn’t. No places to hide exist, which adds to the bullish thesis. Basically, because the tractor demonstrates its worth to any observer, it’s a much easier sell. Indeed, the tractor sells itself.
Moreover, Deere’s innovation represents a positive disrupter as opposed to a more common negative disrupter. As multiple reports from TipRanks revealed, layoffs in the tech space continue to accelerate. Many of these companies utilize AI protocols to enhance their various products and services. Nevertheless, the layoffs keep coming and coming, suggesting credibility concerns with the innovations themselves.
More critically, if tech firms tweak AI to finally meet desired outcomes, the invention can easily result in job losses. To be utterly blunt, AI protocols don’t ask for restroom breaks, ask for raises, or get pregnant. Cynically, upper management may prefer AI to real workers.
However, with DE stock, the underlying enterprise’s use of AI won’t spark social backlash. Why? Fewer people want to become farmers. Also, while Congress seeks to address this challenge through litigation, it’s better to let the robots take this one.
The Financials Favor Deere Investors
As mentioned earlier, DE stock levers the key advantage of levering AI atop an already relevant business. Thus, if autonomous tractors don’t work out for whatever reason, Deere investors have a fallback option. In contrast, the fallback really doesn’t exist for pure-play AI upstarts.
In fact, the proof rests in DE's financials. Aside from a dip in 2020 due to the COVID-19 crisis, over the past five years, Deere enjoyed year-over-year revenue growth. For the fiscal year ended October 31, 2022, the company posted top-line sales of $51.85 billion. This tally represented a 19% lift from the previous year's count of $43.58 billion.
Also, after dipping into negative territory in fiscal years 2018 and 2019, free cash flow turned positive in 2020. It remains positive as of the last earnings report (for the fiscal fourth quarter of 2022). Therefore, DE stock offers a trustworthy investment with some compelling AI protocols splashed in.
Is DE Stock a Buy, According to Analysts?
Turning to Wall Street, DE stock has a Moderate consensus rating based on 12 Buys, six Holds, and zero Sell ratings. The average DE stock price target is $482.89, implying 17.8% upside potential.
The Takeaway: DE Stock is an AI Play That Makes Sense
While AI and machine learning represent the hottest commodities in the market right now, for prospective investors, the underlying sector carries risks. Too often, both the innovation and the problems it seeks to address feature esoteric profiles.
With Deere, the opposite rings true. Fitting AI atop an already relevant product line, the innovation centers on the tangible rather than the intangible. For that reason, DE stock makes plenty of sense as a viable AI investment.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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While agricultural equipment manufacturer Deere (NYSE:DE) represents a vital cog in U.S. infrastructure, it may also be the most important artificial intelligence (AI) investment right now. Adding to the credibility of DE stock representing a new brand of AI investment, the autonomous tractor carries a deep neural network, analyzing each pixel in approximately 100 milliseconds for trajectory determination purposes. More critically, if tech firms tweak AI to finally meet desired outcomes, the invention can easily result in job losses.
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Aside from the innovation itself, what makes DE stock so compelling centers on implied viability. Therefore, DE stock offers a trustworthy investment with some compelling AI protocols splashed in. The Takeaway: DE Stock is an AI Play That Makes Sense While AI and machine learning represent the hottest commodities in the market right now, for prospective investors, the underlying sector carries risks.
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Adding to the credibility of DE stock representing a new brand of AI investment, the autonomous tractor carries a deep neural network, analyzing each pixel in approximately 100 milliseconds for trajectory determination purposes. DE Stock Marries the Innovative with the Practical Primarily, the bullish thesis undergirding DE stock stems from the marriage of innovation with practicality. The Takeaway: DE Stock is an AI Play That Makes Sense While AI and machine learning represent the hottest commodities in the market right now, for prospective investors, the underlying sector carries risks.
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I am bullish on DE stock. While agricultural equipment manufacturer Deere (NYSE:DE) represents a vital cog in U.S. infrastructure, it may also be the most important artificial intelligence (AI) investment right now. Further, Deere offers exposure to practical AI-integrated applications while delivering on its core relevant business.
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b86d4ac0-e3ac-4183-bc84-b16add55b48f
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720796.0
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2023-02-15 00:00:00 UTC
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Reliance Steel (RS) to Report Q4 Earnings: What's in Store?
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DE
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https://www.nasdaq.com/articles/reliance-steel-rs-to-report-q4-earnings%3A-whats-in-store
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nan
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nan
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Reliance Steel & Aluminum Co. RS is scheduled to report fourth-quarter 2022 results before the opening bell on Feb 16.
The company surpassed Zacks Consensus Estimate for earnings in all of the last four quarters. It delivered a trailing four-quarter earnings surprise of around 13.6% on average. It pulled off an earnings surprise of 4.5% in the last reported quarter.
Reliance Steel is expected to have benefited from strong demand in key markets in the fourth quarter despite facing headwinds from inflation and supply chain disruptions. However, lower shipment volumes and selling prices might have been a drag on company’s sales and margins in the quarter to be reported.
RS’ shares have surged 39.3% in the past year against the industry’s fall of 14.3%.
Image Source: Zacks Investment Research
What Do the Estimates Say?
The Zacks Consensus Estimate for revenues for Reliance Steel for the fourth quarter is currently pegged at $3,652 million, indicating an 8.4% fall from the year-ago reported number.
The Zacks Consensus Estimate for shipments for the quarter currently stands at 1,303,000 tons, implying a 1.7% year-over-year rise but a 7.3% sequential decrease. The consensus estimate for average prices per ton sold stands at $2,802, suggesting a decline of 10.7% year over year and 7.8% sequentially.
Some Factors to Watch
RS is likely to have gained from healthy demand across its major markets like non-residential construction, aerospace, energy, semiconductor and automotive. These factors are expected to have supported its performance, despite headwinds from uncertain macroeconomic conditions, higher levels of inflation and supply chain disruptions.
However, shipment levels in the fourth quarter are expected to have been affected by seasonal factors and fewer shipping days, along with extended shutdowns due to holidays. Reliance Steel is also likely to have witnessed pricing pressure in the quarter to be reported. Prices for carbon, stainless and aluminum flat-rolled products are likely to have weakened in the quarter, partly offset by stable pricing in certain high-value products sold in some of the company’s key end markets. Lower selling prices are expected to have affected RS’ fourth-quarter margins.
Zacks Model
Our proven model does not conclusively predict an earnings beat for Reliance Steel this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case.
Earnings Beat: Earnings ESP for Reliance Steel is 0.00%. The Zacks Consensus Estimate for earnings for the fourth quarter is currently pegged at $4.47. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Reliance Steel currently carries a Zacks Rank #1.
Reliance Steel & Aluminum Co. Price and EPS Surprise
Reliance Steel & Aluminum Co. price-eps-surprise | Reliance Steel & Aluminum Co. Quote
Stocks That Warrant a Look
Here are some companies in the Industrial Products space you may want to consider, as our model shows these have the right combination of elements to post an earnings beat this quarter:
DMC Global Inc. BOOM, scheduled to release earnings on Feb 23, has an Earnings ESP of +7.86% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks Rank #1 stocks here.
The Zacks Consensus Estimate for DMC Global’s fourth-quarter earnings has been revised 15.4% upward in the past 60 days. The consensus estimate for BOOM’s earnings for the fourth quarter is currently pegged at 30 cents.
AptarGroup, Inc. ATR, scheduled to release earnings on Feb 16, has an Earnings ESP of +4.55% and carries a Zacks Rank #3.
The Zacks Consensus Estimate for ATR’s earnings for the fourth quarter is currently pegged at 78 cents.
Deere & Company DE scheduled to release earnings on Feb 17, has an Earnings ESP of +2.74% and carries a Zacks Rank #2.
The Zacks Consensus Estimate for DE’s earnings for the fiscal first quarter is currently pegged at $5.53.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
Reliance Steel & Aluminum Co. (RS) : Free Stock Analysis Report
AptarGroup, Inc. (ATR) : Free Stock Analysis Report
DMC Global (BOOM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Reliance Steel is expected to have benefited from strong demand in key markets in the fourth quarter despite facing headwinds from inflation and supply chain disruptions. However, shipment levels in the fourth quarter are expected to have been affected by seasonal factors and fewer shipping days, along with extended shutdowns due to holidays. It delivered a trailing four-quarter earnings surprise of around 13.6% on average.
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Reliance Steel & Aluminum Co. Price and EPS Surprise Reliance Steel & Aluminum Co. price-eps-surprise | Reliance Steel & Aluminum Co. Quote Stocks That Warrant a Look Here are some companies in the Industrial Products space you may want to consider, as our model shows these have the right combination of elements to post an earnings beat this quarter: Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Reliance Steel & Aluminum Co. (RS) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report DMC Global (BOOM) : Free Stock Analysis Report To read this article on Zacks.com click here. It delivered a trailing four-quarter earnings surprise of around 13.6% on average.
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Reliance Steel & Aluminum Co. Price and EPS Surprise Reliance Steel & Aluminum Co. price-eps-surprise | Reliance Steel & Aluminum Co. Quote Stocks That Warrant a Look Here are some companies in the Industrial Products space you may want to consider, as our model shows these have the right combination of elements to post an earnings beat this quarter: Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Reliance Steel & Aluminum Co. (RS) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report DMC Global (BOOM) : Free Stock Analysis Report To read this article on Zacks.com click here. It delivered a trailing four-quarter earnings surprise of around 13.6% on average.
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It delivered a trailing four-quarter earnings surprise of around 13.6% on average. Reliance Steel is expected to have benefited from strong demand in key markets in the fourth quarter despite facing headwinds from inflation and supply chain disruptions. The Zacks Consensus Estimate for shipments for the quarter currently stands at 1,303,000 tons, implying a 1.7% year-over-year rise but a 7.3% sequential decrease.
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b302fbbb-7d27-43aa-88b4-0f935f9426b8
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720797.0
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2023-02-14 00:00:00 UTC
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7 Publicly Traded Companies Jumping Aboard the AI Train
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DE
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https://www.nasdaq.com/articles/7-publicly-traded-companies-jumping-aboard-the-ai-train
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
With new advancements in computer technologies and utility, several tech stocks soared on the implications for the broader artificial intelligence trend. In particular, the ability of AI and machine learning protocols to meet users where they are – that is, to speak their (human) language – sparked intense curiosity. Essentially, we may be standing on a paradigm shift.
Just by the numbers alone, the artificial intelligence trend compels onlookers to pay close attention. According to Grand View Research, the global AI market stood at a valuation of $136.55 billion last year. Between 2023 and 2030, the segment may expand at a compound annual growth rate of 37.3%, culminating in a sector revenue of $1.81 trillion. To their credit, several companies are taking the initiative, attempting to stay atop of the artificial intelligence trend. Below are seven compelling stocks to consider.
NFLX Netflix $359.96
IBM IBM. $136.01
MSFT Microsoft $272.17
DE Deere $409.31
S SentinelOne $16.65
GOOG GOOGL Alphabet $94.95
LMND Lemonade $16.80
Netflix (NFLX)
Source: xalien / Shutterstock
On the surface level, content streaming giant Netflix (NASDAQ:NFLX) ranks among the top entertainment players, not one banking on the broader artificial intelligence trend. However, to stay ahead of the curve, Netflix deploys AI tools to enhance the consumer experience. Specifically, it uses deep learning protocols to understand subscribers’ likes and dislikes. From there, Netflix recommends appropriate content.
To be fair, NFLX stock represents a risky proposition among enterprises focused on the artificial intelligence trend. For much of 2022, it suffered steep losses before trudging much higher over the past few months. Still, despite a strong performance so far this year, in the trailing 365 days, NFLX gave up 12.4% of equity value.
Nevertheless, from an operational perspective, Netflix delivers the big guns. For instance, its three-year revenue growth rate stands at 16.2%, outpacing nearly 84% of its peers. Its net margin pings at 14.21%, also above 84% of the industry. Finally, Wall Street analysts peg NFLX as a consensus moderate buy. Therefore, it’s an interesting idea among companies playing the artificial intelligence trend.
IBM (IBM)
Source: shutterstock.com/LCV
Historically, IBM (NYSE:IBM) forged a reputation for undergirding leading technologies of the 20th century. However, in the current century, “Big Blue” fell behind the innovation curve, relying too heavily on its legacy businesses. Now, those days are long gone, with the company forwarding significant advancements in cloud computing. However, it’s also become a big-time player banking on the artificial intelligence trend.
Predominantly, IBM garnered its AI cred based on its Watson platform, which features the ability to answer questions posed in natural language. Also, news broke recently that Big Blue has been running an AI supercomputer, developing and training large-scale AI models.
As an investment, IBM stock should garner significant interest among bargain hunters. That’s because the market prices shares at a forward multiple of 14.16. As a discount to earnings, IBM ranks better than 80.1% of the competition.
Finally, Wall Street analysts peg IBM as a consensus hold, which might not sound that enticing. However, their average price target stands at $143.56, implying nearly 6% upside potential. Combine that with its forward yield of 4.87% and Big Blue offers a compelling take.
Microsoft (MSFT)
Source: Asif Islam / Shutterstock.com
As an all-around relevant market idea, Microsoft (NASDAQ:MSFT) fits into almost any investment-related discussion. However, the software (and hardware) giant has been making significant inroads into the broader artificial intelligence trend. Specifically, the company heavily backed AI technology research and deployment firm OpenAI. Of course, OpenAI generated news recently for its chatbot ChatGPT.
The main benefit undergirding ChatGPT centers on its ability to answer questions via natural language. Further, Microsoft launched a new version of its search engine Bing with ChatGPT integrated into it. Theoretically, this should make the platform much more useful.
If so, the news should only add to Microsoft’s financial strengths. According to Gurufocus.com’s proprietary calculations for fair market value, MSFT rates as modestly undervalued. Objectively, the company enjoys significant strengths in the operational department. Both its long-term revenue trend and especially its trailing-year net margin rank above their respective sector median values.
Currently, covering analysts peg MSFT as a consensus strong buy. Further, their average price target stands at $291.07, implying an upside potential of 10.63%.
Deere (DE)
Source: Jim Lambert / Shutterstock.com
On the surface, mentioning Deere (NYSE:DE), which specializes in agricultural equipment manufacturing, on a list of companies banking on the artificial intelligence trend seems somewhat ludicrous. I mean, this is a type of company that former President Donald Trump praised. After all, Trump’s a builder. Seeing him program an AI protocol would be bizarre, to say the least.
However, Deere has gone well ahead of the artificial intelligence trend in its industry. In the 2022 edition of CES, Deere introduced a tractor that “…has six pairs of stereo cameras that capture images and pass them through a deep neural network – that then classifies each pixel in approximately 100 milliseconds and determines if the machine continues to move or stops, depending on if an obstacle is detected.”
Financially, DE makes a lot of sense for investors thinking about the long term. Both the company’s three-year revenue growth rate and its trailing-one-year net margin rate above their respective sector median values. Plus, Wall Street believes that DE is a moderate buy. As well, its consensus price target of $482.89 implies an upside potential of 15.58%.
SentinelOne (S)
Source: BeeBright / Shutterstock
Unfortunately, the focus on the artificial intelligence trend doesn’t just center on positive, productive endeavors. With increased digitalization comes nefarious actors, which brings us to SentinelOne (NYSE:S). Specializing in cybersecurity, SentinelOne brings plenty of relevance to the table.
Cybercrimes are only increasing in scope and magnitude. In 2022, the average data breach cost $4.35 million. For the biggest enterprises, the consequences of a breach can be massive, thus necessitating advanced protection schemes. What distinguishes SentinelOne is its deployment of behavioral AI protocols. Essentially, its system can sift through mountains of data to identify legitimate threats. From there, it can also respond without needing human oversight.
While SentinelOne features incredible relevancies regarding the artificial intelligence trend, it’s a risky financial narrative. Basically, prospective investors will be banking on an aspirational framework. Still, to add some confidence to the picture, Wall Street analysts peg S stock as a consensus moderate buy. Also, their average price target stands at $19.65, implying an upside potential of nearly 29%.
Alphabet (GOOG, GOOGL)
Source: IgorGolovniov / Shutterstock.com
As one of the biggest tech firms in the world, Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is all about AI. Most notably, AI-related initiatives center on its Google ecosystem, particularly its branded search engine. Indeed, because of rising competition from Microsoft and its integration of ChatGPT, Alphabet must dig deeper. Fundamentally, I don’t see that as a problem. If I may be blunt, only losers complain about competition. Alphabet ain’t no loser.
Further, what makes Alphabet special in the broader artificial intelligence trend is that it aims to use innovation for the greater good. From promoting greater worldwide access to critical technologies to developing protocols to forward environmental sustainability, Alphabet’s at the forefront of making the planet a better place.
Per Gurufocus.com’s proprietary FMV calculations, GOOG represents a significantly undervalued investment. Objectively, its long-term revenue growth rate and its trailing-year net margin rank above their respective sector average values. Finally, Wall Street analysts peg GOOG as a consensus strong buy. As well, their average price target stands at $124.60, implying 31.35% upside potential.
Lemonade (LMND)
Source: thodonal88 / Shutterstock.com
Fundamentally, the insurance business might not seem like a relevant arena for progressing the artificial intelligence trend. However, Lemonade (NYSE:LMND) plies its trade in the burgeoning segment of insurance technology or insurtech. Mainly, Lemonade provides critical financial protection for its subscribers. It just does it in a convenient manner that its target audience (millennials, Generation Z) natively understands.
What makes Lemonade unique at the moment is that its interactions with its customers are 100% digital. This means no brokers and no middlemen. Theoretically, it also means that once the business matures, Lemonade can pass down savings to its customers. That would probably make the way insurance is done today obsolete. Further, Lemonade incorporates AI to conduct complex processes such as risk assessment and underwriting policies.
To be fair, investing in LMND presents significant risks. Undoubtedly, it’s an aspirational play. About the only standout positive for the company at the moment centers on its balance sheet stability. Not surprisingly, the consensus among analysts pegs LMND as a hold. However, they also target shares hitting $23.25, implying a massive 43.7% upside potential.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
The post 7 Publicly Traded Companies Jumping Aboard the AI Train appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In the 2022 edition of CES, Deere introduced a tractor that “…has six pairs of stereo cameras that capture images and pass them through a deep neural network – that then classifies each pixel in approximately 100 milliseconds and determines if the machine continues to move or stops, depending on if an obstacle is detected.” Financially, DE makes a lot of sense for investors thinking about the long term. From promoting greater worldwide access to critical technologies to developing protocols to forward environmental sustainability, Alphabet’s at the forefront of making the planet a better place. InvestorPlace - Stock Market News, Stock Advice & Trading Tips With new advancements in computer technologies and utility, several tech stocks soared on the implications for the broader artificial intelligence trend.
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MSFT Microsoft $272.17 DE Deere $409.31 S SentinelOne $16.65 GOOG GOOGL Alphabet $94.95 LMND Lemonade $16.80 Netflix (NFLX) Source: xalien / Shutterstock On the surface level, content streaming giant Netflix (NASDAQ:NFLX) ranks among the top entertainment players, not one banking on the broader artificial intelligence trend. InvestorPlace - Stock Market News, Stock Advice & Trading Tips With new advancements in computer technologies and utility, several tech stocks soared on the implications for the broader artificial intelligence trend. Below are seven compelling stocks to consider.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips With new advancements in computer technologies and utility, several tech stocks soared on the implications for the broader artificial intelligence trend. MSFT Microsoft $272.17 DE Deere $409.31 S SentinelOne $16.65 GOOG GOOGL Alphabet $94.95 LMND Lemonade $16.80 Netflix (NFLX) Source: xalien / Shutterstock On the surface level, content streaming giant Netflix (NASDAQ:NFLX) ranks among the top entertainment players, not one banking on the broader artificial intelligence trend. Deere (DE) Source: Jim Lambert / Shutterstock.com On the surface, mentioning Deere (NYSE:DE), which specializes in agricultural equipment manufacturing, on a list of companies banking on the artificial intelligence trend seems somewhat ludicrous.
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Further, what makes Alphabet special in the broader artificial intelligence trend is that it aims to use innovation for the greater good. Lemonade (LMND) Source: thodonal88 / Shutterstock.com Fundamentally, the insurance business might not seem like a relevant arena for progressing the artificial intelligence trend. InvestorPlace - Stock Market News, Stock Advice & Trading Tips With new advancements in computer technologies and utility, several tech stocks soared on the implications for the broader artificial intelligence trend.
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34efad0d-ef8a-45bf-ad9b-ed256ba73eca
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720798.0
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2023-02-13 00:00:00 UTC
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Deere (DE) Stock Sinks As Market Gains: What You Should Know
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DE
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https://www.nasdaq.com/articles/deere-de-stock-sinks-as-market-gains%3A-what-you-should-know-5
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Deere (DE) closed the most recent trading day at $415.33, moving -0.59% from the previous trading session. This change lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 1.11%, and the tech-heavy Nasdaq gained 11.35%.
Prior to today's trading, shares of the agricultural equipment manufacturer had lost 4.97% over the past month. This has lagged the Industrial Products sector's gain of 2.15% and the S&P 500's gain of 4.49% in that time.
Wall Street will be looking for positivity from Deere as it approaches its next earnings report date. This is expected to be February 17, 2023. The company is expected to report EPS of $5.53, up 89.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.31 billion, up 32.53% from the prior-year quarter.
DE's full-year Zacks Consensus Estimates are calling for earnings of $28.08 per share and revenue of $53.79 billion. These results would represent year-over-year changes of +20.62% and +12.26%, respectively.
It is also important to note the recent changes to analyst estimates for Deere. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.3% higher. Deere currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Deere currently has a Forward P/E ratio of 14.88. Its industry sports an average Forward P/E of 14.14, so we one might conclude that Deere is trading at a premium comparatively.
Meanwhile, DE's PEG ratio is currently 1.25. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. DE's industry had an average PEG ratio of 1.25 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 36, which puts it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DE in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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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. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. Deere (DE) closed the most recent trading day at $415.33, moving -0.59% from the previous trading session.
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Deere (DE) closed the most recent trading day at $415.33, moving -0.59% from the previous trading session. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report To read this article on Zacks.com click here. At the same time, the Dow added 1.11%, and the tech-heavy Nasdaq gained 11.35%.
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Click to get this free report Deere & Company (DE) : Free Stock Analysis Report To read this article on Zacks.com click here. Deere (DE) closed the most recent trading day at $415.33, moving -0.59% from the previous trading session. At the same time, the Dow added 1.11%, and the tech-heavy Nasdaq gained 11.35%.
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Deere (DE) closed the most recent trading day at $415.33, moving -0.59% from the previous trading session. At the same time, the Dow added 1.11%, and the tech-heavy Nasdaq gained 11.35%. Wall Street will be looking for positivity from Deere as it approaches its next earnings report date.
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9ac1fe3f-d091-4dd4-a211-a6921a410ac2
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720799.0
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2023-02-13 00:00:00 UTC
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Deere (DE) to Report Q1 Earnings: What's in the Offing?
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DE
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https://www.nasdaq.com/articles/deere-de-to-report-q1-earnings%3A-whats-in-the-offing
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Deere & Company DE is scheduled to report first-quarter fiscal 2023 results on Feb 17, before the opening bell.
Which Way Are the Estimates Trending?
The Zacks Consensus Estimate for Deere’s earnings per share is pegged at $5.53 for the fiscal first quarter, suggesting growth of 89.4% from the year-ago reported figure. The Zacks Consensus Estimate for total revenues is pinned at $11.3 billion, calling for a year-over-year increase of 32.5%. Earnings estimates for the fiscal first quarter have moved 0.2% north in the past 30 days.
Q4 Results
Deere’s sales and earnings surpassed the Zacks Consensus Estimate in the fourth quarter of fiscal 2022. Both bottom and top lines increased year over year. On average, the company has a trailing four-quarter earnings surprise of 7.1%.
Deere & Company Price and EPS Surprise
Deere & Company price-eps-surprise | Deere & Company Quote
What Does Our Model Indicate?
Our proven model conclusively predicts an earnings beat for Deere for first-quarter fiscal 2023. The combination of a positive Earnings ESP, and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), increases the chances of an earnings beat.
You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Deere is +3.83%.
Zacks Rank: Deere currently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Key Factors to Consider
Favorable farm fundamentals have prompted farmers to boost spending on new agricultural equipment and replace the old ones. The preference for Deere’s products for their advanced technologies and features will likely reflect on fiscal first-quarter revenues.
Factors such as supply-chain issues; high production costs; selling, administrative and general expenses; research and development expenses; and the unfavorable effects of foreign currency exchange are likely to have impacted the company’s margin in the quarter. Nevertheless, favorable price realization and higher shipment volumes/sales mix are expected to have negated some of these headwinds, as seen in the fiscal fourth quarter.
Segmental Estimates
The Zacks Consensus Estimate for the Production & Precision Agriculture segment’s revenues is pegged at $5,367 million for the fiscal first quarter, suggesting a year-over-year increase of 59.9%. Sales are likely to have been aided by higher shipment volumes and price realization. The Zacks Consensus Estimate for the segment’s operating profit is pegged at $1,034 million, suggesting a 249.3% rise from $296 million reported in the prior-year quarter. Gains from higher shipment volumes and price realization are likely to have been somewhat offset by escalated production costs, and higher R&D and SA&G expenses.
The Zacks Consensus Estimate for the Small Agriculture & Turf segment’s revenues is pegged at $2,982 million for the fiscal first quarter, indicating 13.3% growth from the prior-year quarter. The segment’s operating profit is estimated at $454 million, suggesting 22.4% year-over-year growth. The segment’s performance is expected to have been driven by price realization and improved shipment volumes, partially offset by elevated production costs, higher R&D and SA&G expenses, and the unfavorable effects of foreign exchange.
The Construction & Forestry segment’s sales are estimated at $2,894 million for the fiscal first quarter, up 13.8% from the prior-year quarter’s reported number on strong demand. The segment’s operating profit is expected to rise 54.8% from the prior-year quarter’s reported figure to $421 million.
The Zacks Consensus Estimate for the Financial Services segment’s revenues is pegged at $923 million for the fiscal first quarter, up 6.1% from the year-ago quarter. The Zacks Consensus Estimate for the segment’s operating profit is pegged at $262 million compared with the prior-year quarter’s reported figure of $296 million.
Price Performance
Deere’s shares have gained 7.9% in the past year compared with the industry’s growth of 7.1%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Here are some other stocks, which you might consider, as our model shows that these, too, have the right combination of elements to beat on earnings in their upcoming releases.
ESAB Corporation ESAB currently has an Earnings ESP of +1.09% and a Zacks Rank #2. The Zacks Consensus Estimate for ESAB’s fourth-quarter 2022 earnings has been unchanged in the past 60 days and is pegged at 92 cents per share.
The Zacks Consensus Estimate for ESAB’s quarterly revenues is pegged at $613.5 million. It has a trailing four-quarter earnings surprise of 10.6%, on average.
Ingersoll Rand Inc. IR currently has an Earnings ESP of +0.64% and a Zacks Rank #2. The Zacks Consensus Estimate for fourth-quarter 2022 earnings has moved north by 1.6% in the past 60 days and is pegged at 63 cents per share. This suggests a year-over-year decline of 7.3%.
The Zacks Consensus Estimate for IR’s quarterly revenues is pegged at $1.5 billion, indicating year-over-year growth of 8.2%. IR has a trailing four-quarter earnings surprise of 7.8%, on average.
Flowserve Corporation FLS currently has an Earnings ESP of +2.33% and a Zacks Rank #3. The Zacks Consensus Estimate for fourth-quarter 2022 earnings has been unchanged in the past 60 days and is pegged at 43 cents per share. This suggests a year-over-year decline of 4.4%
The Zacks Consensus Estimate for quarterly revenues is pegged at $1.01 billion, indicating growth of 9.4% from the prior-year quarter’s reported level.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Deere & Company (DE) : Free Stock Analysis Report
Flowserve Corporation (FLS) : Free Stock Analysis Report
Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
ESAB Corporation (ESAB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Zacks Consensus Estimate for Deere’s earnings per share is pegged at $5.53 for the fiscal first quarter, suggesting growth of 89.4% from the year-ago reported figure. Deere & Company DE is scheduled to report first-quarter fiscal 2023 results on Feb 17, before the opening bell. Q4 Results Deere’s sales and earnings surpassed the Zacks Consensus Estimate in the fourth quarter of fiscal 2022.
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Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Flowserve Corporation (FLS) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report ESAB Corporation (ESAB) : Free Stock Analysis Report To read this article on Zacks.com click here. Deere & Company DE is scheduled to report first-quarter fiscal 2023 results on Feb 17, before the opening bell. The Zacks Consensus Estimate for Deere’s earnings per share is pegged at $5.53 for the fiscal first quarter, suggesting growth of 89.4% from the year-ago reported figure.
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The Zacks Consensus Estimate for Deere’s earnings per share is pegged at $5.53 for the fiscal first quarter, suggesting growth of 89.4% from the year-ago reported figure. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Flowserve Corporation (FLS) : Free Stock Analysis Report Ingersoll Rand Inc. (IR) : Free Stock Analysis Report ESAB Corporation (ESAB) : Free Stock Analysis Report To read this article on Zacks.com click here. Deere & Company DE is scheduled to report first-quarter fiscal 2023 results on Feb 17, before the opening bell.
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The Zacks Consensus Estimate for Deere’s earnings per share is pegged at $5.53 for the fiscal first quarter, suggesting growth of 89.4% from the year-ago reported figure. Deere & Company DE is scheduled to report first-quarter fiscal 2023 results on Feb 17, before the opening bell. Q4 Results Deere’s sales and earnings surpassed the Zacks Consensus Estimate in the fourth quarter of fiscal 2022.
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