In the latest trading session, Deere (DE) closed at $478.77, marking a +0.85% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.5%.

Coming into today, shares of the agricultural equipment manufacturer had gained 9.42% in the past month. In that same time, the Industrial Products sector gained 5.98%, while the S&P 500 gained 2.52%.

The upcoming earnings release of Deere will be of great interest to investors. It is anticipated that the company will report an EPS of $3.11, marking a 50.08% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $7.79 billion, reflecting a 25.71% fall from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $19.34 per share and revenue of $38.87 billion, which would represent changes of -24.51% and -13.15%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Deere. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 1.13% lower. Right now, Deere possesses a Zacks Rank of #3 (Hold).

In the context of valuation, Deere is at present trading with a Forward P/E ratio of 24.54. This denotes a premium relative to the industry's average Forward P/E of 22.38.

Also, we should mention that DE has a PEG ratio of 2.93. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Manufacturing - Farm Equipment industry had an average PEG ratio of 2.93 as trading concluded yesterday.

The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 196, positioning it in the bottom 22% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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