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Company Update (NYSE:DE): Deere completes acquisition of Monosem

[PR Newswire] – MOLINE, Ill., Feb. 3, 2016 /PRNewswire/ — Deere & Company (DE) has completed its acquisition of Monosem, the European market leader in precision planters. In November, Deere announced a definitive agreement to acquire the company. The deal helps accelerate John Deere’s market reach in precision planting equipment and adds engineering expertise to further develop planting technology. Read more on this. Deere & Company (DE) , valued at $23.64B, began trading this morning at $75.00. Looking at the equity, the company’s one day range is $72.86 to $75.16 with a trailing 52-week range being $70.16 to $98.23. Priced at 17.59x this year’s forecasted earnings, DE shares are relatively expensive compared to the industry ’s 16.11x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.40 per share annually in dividends, yielding 3.12%. According to a consensus of 19 analysts, the earnings estimate of $0.71 per share would be $0.41 worse than the year-ago quarter and a $0.03 sequential increase. The full-year EPS estimate is $4.24 which would be a $1.53 setback than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.96 Billion. If reported, that would be a 0.00% increase over the year-ago quarter. More recently, Societe Generale Initiated DE at Hold (Nov 16, 2015). Previously, Goldman upgraded DE from Sell to Neutral. Given all the information above, we should disclose to readers that the average price target is $77.38, which is 3.17% above than it opened this morning. See more in (NYSE:DE) Similar Articles: Market Update: Deere & Company (NYSE:DE) – Deere, DN2K form joint venture with focus on decision making tools for agriculture advisers Market Update: Deere & Company (NYSE:DE) – Deere & Company Announces Quarterly Dividend Stock Update (NYSE:DE): Deere, UAW begin negotiations on labor agreement
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