In the latest market close, Deere (DE) reached $444.19, with a -1.86% movement compared to the previous day. This change was narrower than the S&P 500's daily loss of 3.46%. Elsewhere, the Dow saw a downswing of 2.5%, while the tech-heavy Nasdaq depreciated by 4.31%.

Shares of the agricultural equipment manufacturer witnessed a loss of 3.98% over the previous month, beating the performance of the Industrial Products sector with its loss of 10% and the S&P 500's loss of 5.27%.

Investors will be eagerly watching for the performance of Deere in its upcoming earnings disclosure. On that day, Deere is projected to report earnings of $5.72 per share, which would represent a year-over-year decline of 32.94%. At the same time, our most recent consensus estimate is projecting a revenue of $10.71 billion, reflecting a 21.28% fall from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.30 per share and revenue of $37.98 billion. These totals would mark changes of -24.67% and -15.15%, respectively, from last year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Deere. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Deere is currently sporting a Zacks Rank of #3 (Hold).

With respect to valuation, Deere is currently being traded at a Forward P/E ratio of 21.4. This denotes a premium relative to the industry's average Forward P/E of 17.64.

Also, we should mention that DE has a PEG ratio of 1.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Manufacturing - Farm Equipment industry had an average PEG ratio of 1.78.

The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 58, finds itself in the top 24% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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

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