DE stock price opposed last month’s price analysis as its 1-month price analysis showed over a 2% price drop which shows a more than a 6% price rise in this week. As per this price analysis, it can be said that bears have dropped their activity during trading sessions. This further clarifies that bulls have started showing their dominance during recent trading sessions.
DE Stock Price Weekly Analysis
This week, DE stock price noted its high at $419.40, while during the recent trading session, it closed at $418.90. The weekly price analysis of DE stock noted over 6% price rise that added $25.92 to its trading price.
As shown in the above price chart, with bulls support DE stock price surpassed its 20 and 50-day EMA. However, it noted over 1 Million volume activity in its recent trading session. The upside-rising trend also supports its RSI to follow the same trend towards the overbought zone.
The analysts have set their price target at $452.95, up over 8% from the recent closing price of DE stock. Their maximum estimate is resting at $551.00 whereas their minimum estimate is at $380.00. Moreover, in the past 3 months, analysts gave a “buy” rating to DE stock.
The Financial Report of Deere & Company
Deere & Company (NYSE: DE), an American corporation that does business as John Deere, has a market cap of nearly $120.64 Billion. Mid of August the company released its Q3 2023 report that states its net income is $2.98 Billion.
DE’s price-to-sales ratio is 1.96 while Deere & Company has an Enterprise Value to EBITDA ratio of 10.71. DE dividends are paid quarterly while the next dividend per share is expected to be $1.35 and as of today, the Dividend Yield (TTM)% is 1.15%.
In Q3 2023, the company’s earnings per share (EPS) was $10.20 whereas the estimation was $8.22 which accounts for a 24.15% surprise. The revenue for the same period amounts to $14.28 Billion despite the estimated figure of $14.14 Billion. The estimated EPS for the next quarter is $7.46, and revenue is expected to reach $13.62 Billion.
In 2022, Deere & Company reached $47.92 Billion, the most of which — $22.00 Billion — came from its highest performing source at the moment, “production and precision agriculture”.
Nearly 78% of DE shares are held by institutions, according to Yahoo Finance. Whereas, Vanguard Group Inc., Blackrock Inc., and JP Morgan Chase & Company are the leading 3 institutional holders of DE stock.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/09/02/de-stock-price-surpassed-its-20-day-ema-with-bulls-support/