Deere & Co. (DE), maker of the iconic John Deere tractor, is scheduled to discuss its fiscal fourth-quarter 2009 financial results in a conference call Wednesday, November 25, at 10:00 AM ET, hosted by Chief Financial Officer Jim Field. You can catch the live webcast of the call on the company's website.
During the three months that ended in October, Deere planned to invest in Russia, reached a tentative agreement with the UAW and announced some layoffs. Analysts surveyed by Thomson Reuters expect the agricultural equipment maker to report that earnings for that period plunged from $0.81 per share a year ago to $0.03 per share. And revenue for the quarter is expected to be 34.1% lower to $4.4 billion.
For the full year, the forecast is for $2.61 per share (-44.5%) on $20.40 (-21.0%). Deere's earnings topped analysts' expectations in the past two quarters, by 74 cents per share in the third quarter.
The long-term EPS growth forecast for this Moline, Ill.-based dividend payer is only 9.2%, which is less than that of competitor Caterpillar Inc. (CAT). Yet the First Call consensus recommendation remains to buy DE, with a mean price target of $52.56. Zacks feels the low expectations could offer room for an upside surprise, and Morgan Stanley upgraded Deere, citing increasing demand.
Shares have climbed more than 15% in the past three months and are trading near the 52-week high.
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Reader Comments (Page 1 of 1)
11-29-2009 @ 3:56PM
MTM said...
Part of their problem is dealing with the UAW. Get rid of the unions and our country would do so much better.
11-29-2009 @ 4:14PM
george said...
PART IS A PROBLEM WITH THE UAW YES I WAS IN AUNION ALSO THE GOVERMENT UNDER YOU NO WHO WANTS TO TAX AND TAX AND ALL IT DOES IS SEND COMPANYS SOME PLACE ELSE SO THOES PEOPLE WILL ALL GO TO WORK BUT ALL OUR PEOPLE WILL BE OUT OF WORK TAKE A LITTLE LESS PAY AND HAVE A JOB DONT BE LIKE WASHINGTON JERKS AND THEY NEED TO GIVE BUSSINESS A TAX CUT
11-29-2009 @ 4:28PM
galen said...
Yes...for sure. Give them enough time and the UAW will kill off John Deere lawn and farm stuff just as, many years ago, they killed off the Deere heavy machinery division. Unions will not be satisfied until their members are all without jobs and absolutely nothing substantial is "made in America".
11-29-2009 @ 5:00PM
servicemasterwv said...
way to go uaw and washington another one down the drain thanks to your greed
11-29-2009 @ 5:31PM
getoverit341 said...
John Deere sucks. I worked for them years ago until they laid me off due to lack of business. Worst job i ever worked.
11-29-2009 @ 5:39PM
earthworm said...
Unions were made because AMERICANS ARE SELFISH AND STUPID!!!...That stupidity and selfishness also made the unions bloated with corruption and greed. You can take the American away from the greed but you can't take the greed out of the American!!
11-29-2009 @ 6:00PM
Al said...
Unions are destroying this country...
11-30-2009 @ 7:24PM
MissMN said...
I farm so have priced tractors-John Deere tractors are waaayyyy too overpriced. Maybe if they'd concentrate on making the tractors a little more affordable to the consumers they would sell more. I certainly can't afford a high priced green tractor-I'll go with another color.
11-29-2009 @ 6:42PM
greg said...
Wakeup people! Its not the unions that are killing this country. The unions are only tring to help so people make a decent living. if we get rid of the unions the gap between the rich and the working poor will just keep growing! More jobs will be lost. And i hope you dont think the products would be any cheaper without the unions because i guarentee they wouldn't. i mean come on how is many non union salried people in a single company are worth hundreds of thousands to millions a year? And they are not killing the company?
11-29-2009 @ 6:48PM
greg said...
how long has Deere survived with a union? can you tell me many other companies that are non union who have lasted as long? Its not the union killing our countries. its the greedy people who make millions of dollars a year complaining about the little guy in the union making 40k per year. no one is woth some of outragious wages i dont care who they are!
11-29-2009 @ 7:24PM
Steve C said...
Most of you people complaining about the Union wouldn't have the standard of living you have today if it weren't for Unions. Some examples are a 40hr work week, health and safety regulations for employees, a decent living wage with benefits which by the way Unions have had to give back some of it over the years. You don't hear this side of it most of the time. It's always about how the big bad Unions are so greedy. B.S. What about CEO's? They ain't greedy I suppose.
11-29-2009 @ 7:39PM
john cosner said...
tell them steve, people are crazy. nounion companys are the worst. they get the work, keep the money and screw over the workers. keep all the money to line there deep bockets. this country needs the unions now more then ever.
11-29-2009 @ 8:46PM
Ripps26 said...
Unions, the people that brought you the weekend, workplace safety, 40 hour weeks (o/t over 40), minimum wage, child labor laws, paid holidays like Thanksgiving and Christmass, and a host of other quality of life improvements. If you want to see real greed, disband all the unions and turn labor over to the corporations, 100%. You will see no more health benefits, lower wages, an accellerating move toward offshore labor, lower quality, and more people on unemployment costing the average taxpayer far more money than paying a decent wage for decent work. I am not 100% pro union, they have their bad points, but people quickly forget the history and reasons for union labor and are quick to criticize it when it suits them. If anough people at my current company had the guts to unionize we would be able to break the cycle of discrimitory firings, uneven distribution of o/t, abuse by our supervisors, and an end to random benefits cuts. Sounds like it would be an improvement for myself and my family, how about yours?