In the latest market close, Deere (DE) reached $472.43, with a -0.96% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.08%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 0.52%.

Coming into today, shares of the agricultural equipment manufacturer had lost 3.79% in the past month. In that same time, the Industrial Products sector lost 5.98%, while the S&P 500 lost 7.33%.

The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. It is anticipated that the company will report an EPS of $5.74, marking a 32.71% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $10.75 billion, indicating a 21.03% downward movement from the same quarter last year.

DE's full-year Zacks Consensus Estimates are calling for earnings of $19.30 per share and revenue of $37.96 billion. These results would represent year-over-year changes of -24.67% and -15.2%, respectively.

It is also important to note the recent changes to analyst estimates for Deere. Such recent modifications usually signify the changing landscape 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.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.09% fall in the Zacks Consensus EPS estimate. Deere is currently sporting a Zacks Rank of #3 (Hold).

From a valuation perspective, Deere is currently exchanging hands at a Forward P/E ratio of 24.72. Its industry sports an average Forward P/E of 21.45, so one might conclude that Deere is trading at a premium comparatively.

We can also see that DE currently has a PEG ratio of 2.06. 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. The Manufacturing - Farm Equipment was holding an average PEG ratio of 2.07 at yesterday's closing price.

The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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