Analyst Consensus ?
ConsensusHold46 ratings
Bullish2043.5%
Neutral2043.5%
Bearish613.0%
Deere & Company · DE · FY2024 Q4 · Calendar Q4 2024
Deere pairs demand caution with margin and precision-agriculture focus
The supplied analysis supports a mixed thesis: resilient margins, inventory discipline and precision-agriculture adoption provide support, but broad demand contraction remains a material counterweight. Evidence for the longer-term growth case is operational investment and technology adoption; evidence against it is weaker demand across agriculture, construction and forestry.
Reported Before market openNYSEIndustrials
$173.06B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $3.89
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $9.37B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+8.0%
Event window
SPY move
+0.5%
Same window
Abnormal move
+7.5%
Stock minus SPY
Volume
3.7×
Versus trailing sessions
Subsequent drift
-1.2%
Up to 20 sessions
DESPY benchmark
Ask FN2 about DE FY2024 Q4
Transcript, numbers and history already loaded
What drove DE's +8.0% move after FY2024 Q4 earnings?What changed in DE's guidance and outlook in FY2024 Q4?Give me the bull and bear case for DE after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior-quarter analysis, the current analysis shifts from cautious inventory and demand management toward a more confident view of margin resilience and technology adoption, while extending the expected demand contraction into FY2025.
Guidance delta
Management maintained guidance in the prior quarter; the supplied current analysis describes FY2025 expectations for further demand contraction with profitability supported by price realization and cost improvements.
Key takeaways
- The current analysis describes a 28% year-over-year sales decline alongside better-than-expected fourth-quarter margins.
- Management emphasized inventory reductions, cost discipline and continued R&D investment.
- Precision-agriculture adoption and connected acres are positioned as longer-term growth drivers, while FY2025 demand is expected to contract.
Management priorities
- Align supply with demand through underproduction and inventory reduction.
- Expand See & Spray, Precision Ag Essentials and connected-equipment platforms.
- Continue R&D investment, including tropical-agriculture development in Brazil, while returning capital.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$627Current
$325Low
$565.91Average
$813High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 19, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Neutral | Neutral | Maintain | Oct 8, 2026 |
| Evercore ISI Group | Outperform | In Line | Upgrade | Sep 3, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Aug 31, 2026 |
| Baird | Outperform | Neutral | Upgrade | Aug 31, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 24, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 24, 2026 |
| DA Davidson | Buy | Buy | Maintain | Aug 24, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 24, 2026 |
| UBS | Buy | Buy | Maintain | Aug 21, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Aug 21, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Aug 21, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | May 22, 2026 |
| Jefferies | Hold | Underperform | Upgrade | Apr 8, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Feb 24, 2026 |
| Freedom Broker | Hold | Hold | Maintain | Feb 23, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | May 21, 2025 |
| Deutsche Bank | Hold | Hold | Maintain | Aug 8, 2024 |
| TD Cowen | Hold | Hold | Maintain | May 17, 2024 |
| Stifel | Buy | Buy | Maintain | May 17, 2024 |
| Wells Fargo | Overweight | Overweight | Maintain | Feb 16, 2024 |
| Melius Research | Hold | Buy | Downgrade | Jan 8, 2024 |
| Canaccord Genuity | Hold | Hold | Maintain | Nov 27, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 21, 2023 |
| Bernstein | Market Perform | Market Perform | Maintain | May 15, 2023 |
| Argus Research | Buy | Buy | Maintain | Feb 21, 2023 |
| Goldman Sachs | Buy | Buy | Maintain | Aug 25, 2022 |
| Cowen & Co. | Perform | Market Perform | Maintain | Jun 9, 2022 |
| Wolfe Research | Outperform | Outperform | Maintain | Apr 13, 2021 |
| Vertical Research | Buy | Buy | Maintain | Jan 20, 2021 |
| William Blair | Outperform | Market Perform | Upgrade | May 28, 2020 |
| Bank of America | Underperform | Neutral | Downgrade | Dec 2, 2019 |
| DZ Bank | Sell | Hold | Downgrade | Nov 29, 2019 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | Aug 15, 2019 |
| Stifel Nicolaus | Buy | Buy | Maintain | May 20, 2019 |
| Argus | Hold | Buy | Downgrade | May 5, 2018 |
| Berenberg | Sell | Sell | Maintain | Jan 24, 2017 |
| Aegis Capital | Hold | Hold | Maintain | Dec 15, 2016 |
| PiperJaffray | Neutral | Underweight | Upgrade | Nov 28, 2016 |
| Piper Sandler | Neutral | Underweight | Upgrade | Nov 28, 2016 |
| Macquarie | Underperform | Underperform | Maintain | Feb 22, 2016 |
| Societe Generale | Hold | Hold | Maintain | Nov 16, 2015 |
| Avondale Partners | Outperform | Market Outperform | Maintain | Oct 15, 2015 |
| Seaport Global | Neutral | Neutral | Maintain | Jun 19, 2014 |
| Longbow Research | Underperform | Neutral | Downgrade | May 11, 2014 |
| ISI Group | Neutral | Cautious | Maintain | Apr 10, 2014 |
| CLSA | Underperform | Buy | Downgrade | Aug 1, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $627. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Evercore ISI | Analyst unavailable | $813 | $698.37 | +29.7% | Sep 2, 2026 |
| Raymond James | Tim Thein | $730 | $648.34 | +16.4% | Aug 31, 2026 |
| Robert W. Baird | Mircea Dobre | $800 | $630.33 | +27.6% | Aug 31, 2026 |
| Truist Financial | Analyst unavailable | $804 | $657.08 | +28.2% | Aug 24, 2026 |
| D.A. Davidson | Analyst unavailable | $760 | $655.79 | +21.2% | Aug 24, 2026 |
| Barclays | Adam Seiden | $675 | $647.47 | +7.7% | Aug 24, 2026 |
| D.A. Davidson | Analyst unavailable | $585 | $626.31 | -6.7% | Aug 21, 2026 |
| Robert W. Baird | Analyst unavailable | $640 | $620.94 | +2.1% | Aug 21, 2026 |
| UBS | Steven Fisher | $728 | $620.94 | +16.1% | Aug 21, 2026 |
| Seaport Global | Analyst unavailable | $570 | $610.48 | -9.1% | Aug 14, 2026 |
| Truist Financial | Jamie Cook | $812 | $627.63 | +29.5% | Jul 2, 2026 |
| Oppenheimer | Noah Kaye | $680 | $529.12 | +8.5% | May 27, 2026 |
| RBC Capital | Analyst unavailable | $752 | $530.32 | +19.9% | May 26, 2026 |
| D.A. Davidson | Michael Shlisky | $685 | $522.86 | +9.3% | May 22, 2026 |
| Industrial Alliance Securities | Analyst unavailable | $625 | $599.48 | -0.3% | Mar 9, 2026 |
| Raymond James | Analyst unavailable | $765 | $653.68 | +22.0% | Feb 23, 2026 |
| Morgan Stanley | Analyst unavailable | $730 | $651.44 | +16.4% | Feb 23, 2026 |
| D.A. Davidson | Michael Shlisky | $775 | $648.92 | +23.6% | Feb 23, 2026 |
| Wells Fargo | Analyst unavailable | $750 | $662.49 | +19.6% | Feb 23, 2026 |
| Jefferies | Analyst unavailable | $550 | $662.49 | -12.3% | Feb 23, 2026 |
| RBC Capital | Analyst unavailable | $736 | $660.02 | +17.4% | Feb 20, 2026 |
| Oppenheimer | Kristen Owen | $715 | $661.82 | +14.0% | Feb 20, 2026 |
| UBS | Analyst unavailable | $775 | $659.94 | +23.6% | Feb 20, 2026 |
| BMO Capital | Joel Jackson | $500 | $657.33 | -20.3% | Feb 20, 2026 |
| Truist Financial | Jamie Cook | $793 | $657.04 | +26.5% | Feb 20, 2026 |
| Robert W. Baird | Analyst unavailable | $675 | $662 | +7.7% | Feb 20, 2026 |
| BMO Capital | Joel Jackson | $460 | $464.92 | -26.6% | Dec 9, 2025 |
| Morgan Stanley | Analyst unavailable | $560 | $468.48 | -10.7% | Dec 9, 2025 |
| Jefferies | Stephen Volkmann | $475 | $467.31 | -24.2% | Dec 9, 2025 |
| D.A. Davidson | Michael Shlisky | $580 | $472.15 | -7.5% | Dec 1, 2025 |
| Oppenheimer | Analyst unavailable | $531 | $464.59 | -15.3% | Nov 28, 2025 |
| Evercore ISI | Analyst unavailable | $458 | $472.14 | -27.0% | Nov 28, 2025 |
| Truist Financial | Jamie Cook | $612 | $469.87 | -2.4% | Nov 28, 2025 |
| RBC Capital | Sabahat Khan | $541 | $469.87 | -13.7% | Nov 28, 2025 |
| Wells Fargo | Analyst unavailable | $543 | $473.41 | -13.4% | Nov 13, 2025 |
| UBS | Analyst unavailable | $535 | $457.16 | -14.7% | Oct 17, 2025 |
| Truist Financial | Jamie Cook | $609 | $461.51 | -2.9% | Oct 8, 2025 |
| Evercore ISI | David Raso | $491 | $491.13 | -21.7% | Aug 19, 2025 |
| Oppenheimer | Kristen Owen | $560 | $503.47 | -10.7% | Jul 15, 2025 |
| Raymond James | Tim Thein | $560 | $531.48 | -10.7% | May 16, 2025 |
| Truist Financial | Jamie Cook | $619 | $516.32 | -1.3% | May 15, 2025 |
| Argus Research | Analyst unavailable | $510 | $499.62 | -18.7% | Mar 7, 2025 |
| UBS | Analyst unavailable | $583 | $465.83 | -7.0% | Mar 3, 2025 |
| Truist Financial | Jamie Cook | $443 | $376.44 | -29.3% | Aug 16, 2024 |
| Oppenheimer | Noah Kaye | $448 | $369.04 | -28.5% | Aug 15, 2024 |
| Citigroup | Kyle Menges | $370 | $369.04 | -41.0% | Aug 15, 2024 |
| Truist Financial | Jamie Cook | $439 | $351.28 | -30.0% | Aug 15, 2024 |
| BMO Capital | Joel Jackson | $400 | $349.14 | -36.2% | Aug 8, 2024 |
| Evercore ISI | David Raso | $371 | $374.96 | -40.8% | May 28, 2024 |
| D.A. Davidson | Michael Shlisky | $465 | $397.02 | -25.8% | May 20, 2024 |
| Goldman Sachs | Jerry Revich | $466 | $396.48 | -25.7% | May 17, 2024 |
| Stifel Nicolaus | Stanley Elliott | $450 | $394.43 | -28.2% | May 17, 2024 |
| Oppenheimer | Noah Kaye | $465 | $394.43 | -25.8% | May 17, 2024 |
| Deutsche Bank | Nicole DeBlase | $402 | $394.43 | -35.9% | May 16, 2024 |
| Morgan Stanley | Angel Castillo | $450 | $393.17 | -28.2% | Apr 15, 2024 |
| Truist Financial | Jamie Cook | $494 | $378.85 | -21.2% | Mar 13, 2024 |
| J.P. Morgan | Tami Zakaria | $385 | $384.78 | -38.6% | Feb 15, 2024 |
| UBS | Steven Fisher | $408 | $382.65 | -34.9% | Nov 22, 2023 |
| Wells Fargo | Seth Weber | $445 | $363.55 | -29.0% | May 22, 2023 |
| Citigroup | Timothy Thein | $505 | $402.96 | -19.5% | Feb 17, 2023 |
| UBS | Steven Fisher | $437.46 | $437.52 | -30.2% | Nov 25, 2022 |
| Deutsche Bank | Analyst unavailable | $374 | $405.69 | -40.4% | Nov 17, 2022 |
| Argus Research | Analyst unavailable | $420 | $381.38 | -33.0% | Aug 24, 2022 |
| Citigroup | Analyst unavailable | $425 | $369.64 | -32.2% | Aug 23, 2022 |
| Deutsche Bank | Analyst unavailable | $386 | $369.9 | -38.4% | Aug 22, 2022 |
| Credit Suisse | Analyst unavailable | $447 | $369.66 | -28.7% | Aug 22, 2022 |
| Wells Fargo | Analyst unavailable | $423 | $369.66 | -32.5% | Aug 22, 2022 |
| Morgan Stanley | Courtney Yakavonis | $424 | $369.66 | -32.4% | Aug 21, 2022 |
| Deutsche Bank | Analyst unavailable | $388 | $361.55 | -38.1% | Aug 11, 2022 |
| Jefferies | Stephen Volkmann | $400 | $319.02 | -36.2% | Jul 26, 2022 |
| Morgan Stanley | Analyst unavailable | $416 | $306.48 | -33.7% | Jul 18, 2022 |
| J.P. Morgan | Analyst unavailable | $325 | $300.7 | -48.2% | Jul 12, 2022 |
| Barclays | Adam Seiden | $400 | $335.04 | -36.2% | May 23, 2022 |
| Stifel Nicolaus | Analyst unavailable | $425 | $336.39 | -32.2% | May 23, 2022 |
| Oppenheimer | Analyst unavailable | $419 | $335.92 | -33.2% | May 23, 2022 |
| Morgan Stanley | Analyst unavailable | $452 | $329.02 | -27.9% | May 23, 2022 |
| Goldman Sachs | Analyst unavailable | $420 | $313.31 | -33.0% | May 23, 2022 |
| BMO Capital | Joel Tiss | $425 | $313.31 | -32.2% | May 22, 2022 |
| Oppenheimer | Noah Kaye | $446 | $381.23 | -28.9% | May 3, 2022 |
| Deutsche Bank | Nicole Deblase | $417 | $346.98 | -33.5% | Feb 26, 2022 |
| Robert W. Baird | Mircea Dobre | $487 | $369.1 | -22.3% | Feb 20, 2022 |
| Credit Suisse | Jamie Cook | $471 | $379.42 | -24.9% | Jan 13, 2022 |
| Barclays | Adam Seiden | $415 | $379.42 | -33.8% | Jan 13, 2022 |
| Stifel Nicolaus | Stanley Elliott | $445 | $346.15 | -29.0% | Nov 29, 2021 |
| Morgan Stanley | Courtney Yakavonis | $485 | $357.3 | -22.6% | Nov 26, 2021 |
| Bank of America Securities | Ross Gilardi | $425 | $357.3 | -32.2% | Nov 26, 2021 |
| Citigroup | Timothy Thein | $415 | $379.75 | -33.8% | May 14, 2021 |
| Wolfe Research | Greg Badishkanian | $425 | $374.07 | -32.2% | Apr 12, 2021 |
Track every rating change on DE the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationDeere & Company is a global manufacturer and distributor of a wide range of equipment. The company's operations are organized into four primary business segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment focuses on large-scale farming and advanced agricultural practices, offering medium-sized tractors, various harvesting machinery (including combines, cotton pickers, and sugarcane harvesters), front-end harvesting tools, sugarcane loaders, pull-behind scrapers, and essential tillage and seeding implements. It also supplies specialized application equipment like sprayers and nutrient management systems, along with soil preparation machinery, primarily serving grain growers. The Small Agriculture and Turf segment caters to smaller farming needs and land maintenance. Its product line includes utility tractors along with their complementary loaders and attachments.…
Historical context
All DE earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| JBHT J.B. Hunt Transport Services, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.6% | -2.0% | J.B. Hunt: Strong demand, but margin repair remains central |
| FAST Fastenal Company | FY2026 Q3 · Calendar Q4 2026 | +3.3% | +1.1% | Fastenal Q3: Share Gains and Digital Adoption Lift Growth |
Latest beats and misses
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Missed on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-10T18:39:04.055137+00:00
- Polygon adjusted daily market bars · 2026-10-19T21:40:41.115810+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-19T21:40:41.112993+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-19. For educational purposes only; not investment advice.