UPDATE: Deere and Company reports a 25% decline in sales and net income to $351 million for the 4th quarter which ended Oct. 31.For the year, it was a 20% decline and net income was $1.9 billion on $28.8 billion dollars in sales. Still, the company says sales and earnings were the 6th highest in company history. Deere is forecasting a 7% decline this fiscal year.
Previous version:
Profits and sales will be lower than last year, but will the company continue to beat expectations ? That question will be answered Wednesday morning when Deere and Company reports 4th quarter and year end results.
The company set records in 2013, and did nearly as well last year (2014), but has made much lower predictions for this year due to falling farm income and a strong dollar.
One year ago, Deere reported net income of $8.63 per share, but the consensus of analysts for the year just ended, as reported by Yahoo Finance, is $5.44 - a drop of 37 per cent.
And sales are expected to have fallen 24 per cent.
But Deere has managed to beat analyst estimates for the past five quarters.
Analysts seem to have a wide range of opinions of the company's future stock price, now trading at nearly $76 a share. Some have lowered their price targets to as low as $64, while others are predicting $90 to even $100 a share.
