Earnings season continues to roll on, and Wednesday morning, before the market opens, I am going to be keeping a close watch on the quarterly results of Deere & Co. (NYSE: DE). Analysts are expecting the company to post earnings of $2.41 per share for its second fiscal quarter The last time that Deere reported earnings was on February 14, when it easily beat analyst estimates. For its fiscal first quarter, Deere was able to report earnings of $1.04 per share, while analysts had been expecting to see the company come in with $0.74 EPS.
Late last month, a couple of Deere's competitors reported financial results, beating earnings estimates, so hopefully this trend will carry over into Deere's quarterly numbers. On April 20, Caterpillar Inc (NYSE: CAT) reported earnings of $1.23 per share for its first-quarter earnings, above the $1.09 EPS analysts had been expecting. Then, a couple of days later on April 23, CNH Global N.V. (NYSE: CNH) posted earnings of $0.44 per share, beating estimates of $0.31 EPS for its first quarter.
For those of our readers who just can't get enough of Jim Cramer's stock advice, he is very bullish on the future for Deere. Last week, he discussed his bullish view on the stock, feeling that the upside is huge due to the way it is leveraged to farm spending. With the recent high prices that commodities have been reaching, it seems logical that farm service stocks should be able to reap the benefits. So far, judging from what we have seen at CAT and CNH last month, this definitely looks to be coming true.
What are your thoughts? Do you think we are going to see another great quarter from Deere? We will find out for sure on Wednesday, when the company hosts its quarterly conference call. BloggingStocks will be covering the entire call, scheduled to get under way at 10:00 AM EDT, with up to the minute coverage. Be sure to come back and get all the details!
Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor'sObserver.
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