In the latest trading session, Deere (DE) closed at $479.99, marking a +0.38% move from the previous day. This change lagged the S&P 500's 0.53% gain on the day. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.25%.

The the stock of agricultural equipment manufacturer has risen by 12.85% in the past month, leading the Industrial Products sector's gain of 2.99% and the S&P 500's gain of 1.24%.

The investment community will be paying close attention to the earnings performance of Deere in its upcoming release. The company is forecasted to report an EPS of $3.14, showcasing a 49.6% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $7.7 billion, indicating a 26.62% decrease compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $19.38 per share and a revenue of $38.76 billion, representing changes of -24.36% and -13.41%, respectively, from the prior year.

Any recent changes to analyst estimates for Deere should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.83% decrease. Deere currently has a Zacks Rank of #3 (Hold).

In the context of valuation, Deere is at present trading with a Forward P/E ratio of 24.68. This expresses a premium compared to the average Forward P/E of 23.2 of its industry.

We can additionally observe that DE currently boasts a PEG ratio of 2.95. 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. By the end of yesterday's trading, the Manufacturing - Farm Equipment industry had an average PEG ratio of 2.95.

The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 194, finds itself in the bottom 23% echelons 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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