Deere's Fourth-Quarter Highlights Robust Growth Ahead
Following wide-moat Deere's fourth-quarter results, we are adjusting our fair value estimate to $127 per share from $118 to incorporate the time value of money since our last update and to refine our model for our updated revenue outlook. Deere grew fourth-quarter EPS 74% over the prior-year period to $1.57, surprising consensus by 13 cents. Deere's earnings beat was driven by improvements largely on the top line, particularly from increased farm equipment sales.Deere increased fourth-quarter e...
Deere & Co. operates the following segments: Agriculture and Turf, which manufactures and distributes a line of agriculture and turf equipment and related service parts, including utility tractors, tractor loaders, combines, cotton pickers, cotton strippers, and sugarcane harvesters; Construction and Forestry, which manufactures and distributes a range of machines and service parts used in construction, earthmoving, road building, material handling and timber harvesting, including backhoe loaders and crawler dozers and loaders; and Financial Services, which finances sales and leases by the company's dealers of new and used agriculture and turf equipment and construction and forestry equipment.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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