Why is John Deere stock so low? (2024)

Why is John Deere stock so low?

Deere stock was dropping after the company reported better-than-expected fiscal first-quarter earnings. Guidance, however, was pushing the stock lower. Deere on Thursday announced earnings per share of $6.23 from machinery sales of $10.4 billion.

Why is John Deere stock falling?

Shares of Deere & Co. dropped Thursday, after the agricultural, construction and turf equipment maker reported fiscal first-quarter earnings that were well above expectations but provided a downbeat full-year outlook, with business segment sales underperforming the industry.

Is John Deere in financial trouble?

Agricultural and construction equipment maker Deere exceeded profit and sales forecasts for its first quarter of fiscal 2024, though its revenue fell 8% from a year earlier. The company lowered its full-year guidance in anticipation of customers holding off on replenishing their fleets.

Is John Deere stock a good buy right now?

The highest analyst price target is $495.00 ,the lowest forecast is $365.00. The average price target represents 6.93% Increase from the current price of $397.27. Deere's analyst rating consensus is a Moderate Buy. This is based on the ratings of 17 Wall Streets Analysts.

What is the outlook for John Deere in 2024?

Company Outlook & Summary

Net income attributable to Deere & Company for fiscal 2024 is forecasted to be in a range of $7.50 billion to $7.75 billion. “Moving forward, we expect fleet replenishment to moderate as agricultural fundamentals normalize from record levels in 2022 and 2023,” May said.

Does Bill Gates own John Deere stock?

Microsoft Corp (MSFT. O) co-founder Bill Gates' investment vehicle Cascade Investment LLC has become the largest shareholder in farm machinery maker Deere & Co (DE. N), with a 5% stake, according to a regulatory filing.

How much Deere stock does Bill Gates own?

Why are farmers boycotting John Deere?

Farmers are gaining ground against John Deere's strict repair rules in a key right-to-repair battle. Right to Repair advocates believe consumers should be able to repair things they purchased, either themselves or at the repair shop they choose.

Who is the largest investor in John Deere?

Deere's Largest Shareholder, Bill Gates, Now Owns More Than 10%

What is the future of John Deere?

A semi-autonomous tractor equipped with an integrated crop sprayer is also on the radar for John Deere's future. This tractor would include a built-in camera to work in row crops. User exposure to pesticides will be reduced with the fully automatic filling station used to fill the sprayer tank.

Is John Deere a good long-term stock?

Even if the agriculture industry is at or near the end of an upswing, Deere remains a solid long-term investment. A perennial leader in its 'field,' the company has persevered through many up and down cycles.

What is the highest John Deere stock ever?

Historical daily share price chart and data for Deere since 1972 adjusted for splits and dividends. The latest closing stock price for Deere as of April 17, 2024 is 396.88. The all-time high Deere stock closing price was 441.55 on July 25, 2023.

Which stock is better John Deere or Caterpillar?

Deere shares are up 5% over the last three months and down 4% over the last 12 months. Meanwhile, Caterpillar stock has soared 38% over the last three months, pulling its one-year return into the green at 33%. After Caterpillar's sizable rally over the last few months, it's trading at a significant premium to Deere.

Why do people still buy John Deere?

Take Advantage of Cutting-Edge Technology. John Deere is known for its innovation. Since 1837, for example, the company has designed almost 700 different tractors! John Deere is continually working to make its products better for customers.

What company did John Deere buy out?

This transaction was announced in December 2021 and is now complete, following regulatory approval. Kreisel Electric (www.Kreiselelectric.com) is based in Rainbach im Mühlkreis, Austria. The company was founded in 2014 and has approximately 180 full-time employees.

Is John Deere a stable company?

Fitch has affirmed the long-term and short-term IDRs of John Deere Capital Corporation (JDCC) and its rated subsidiaries at 'A+' and 'F1', respectively. The Rating Outlook is Stable.

Does Warren Buffett own John Deere?

Berkshire Hathaway, Buffet's Company, has boosted its stake in John Deere by about 5.6m shares to about 22.88m shares, or a 7.2% stake. Berkshire Hathaway is now the company's largest institutional shareholder with holdings worth nearly $2bn.

What stock did Warren Buffett buy?

Is Deere stock a buy or sell?

Deere stock has received a consensus rating of buy. The average rating score is and is based on 50 buy ratings, 25 hold ratings, and 0 sell ratings.

How high will John Deere stock go?

Based on short-term price targets offered by 19 analysts, the average price target for Deere comes to $429.00. The forecasts range from a low of $375.00 to a high of $495.00. The average price target represents an increase of 8.94% from the last closing price of $393.80.

Why is John Deere stock doing so well?

The good news is that Deere is growing revenues, and EBIT margins improved by 5.2 percentage points to 25%, over the last year. Both of which are great metrics to check off for potential growth. The chart below shows how the company's bottom and top lines have progressed over time.

How rich is John Deere?

Why can't you repair John Deere tractors?

Tractor maker John Deere has agreed to give its US customers the right to fix their own equipment. Previously, farmers were only allowed to use authorised parts and service facilities rather than cheaper independent repair options. Deere and Co. is one of the world's largest makers farming equipment.

What is the John Deere controversy?

For years, John Deere has been at the center of the right-to-repair debate, and not in a good way. The company put software locks on equipment that only authorized dealers can disable, preventing farmers or an independent repair shop from diagnosing and fixing a machine.

Is John Deere an ethical company?

MOLINE, Illinois (March 4, 2024) – Deere & Company (NYSE: DE) has been recognized as one of the 2024 World's Most Ethical Companies® for the 17^th time by Ethisphere, a global leader in defining and advancing the standards of ethical business practices.