John Deere will report results for its second quarter on Friday, and analysts are mostly optimistic. As reported by Yahoo Finance, they predict revenue will climb 4.5 per cent from the same quarter last year, to $10.1 billion. And that earnings per share will jump 15 per cent to $3.61.
But analysts also worry farm equipment sales are at risk this year because of an uncertain outlook for crop prices. They're more optimistic about the Construction and Forestry division which is benefitting from a continued strong recovery in construction in the US since the financial crisis of 2008.
Since falling to $72 a share in January of 2016, Deere shares peaked two years later in January 2018 at $170. The price dropped again last October (130), then rose again to near its peak (169) just last month. Thursday share are trading around $147 dollars.
