In the latest trading session, Deere (DE) closed at $408.64, marking a +0.49% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.92%. Meanwhile, the Dow experienced a drop of 0.96%, and the technology-dominated Nasdaq saw a decrease of 1.6%.

The the stock of agricultural equipment manufacturer has fallen by 1.03% in the past month, leading the Industrial Products sector's loss of 1.22% and undershooting the S&P 500's gain of 2.68%.

Market participants will be closely following the financial results of Deere in its upcoming release. The company's upcoming EPS is projected at $3.90, signifying a 52.78% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $9.34 billion, down 32.35% from the prior-year quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $25 per share and a revenue of $45.38 billion, indicating changes of -27.81% and -18.32%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for Deere. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.1% lower within the past month. Deere is currently a Zacks Rank #4 (Sell).

Looking at valuation, Deere is presently trading at a Forward P/E ratio of 16.26. This signifies no noticeable deviation in comparison to the average Forward P/E of 16.26 for its industry.

We can additionally observe that DE currently boasts a PEG ratio of 1.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Manufacturing - Farm Equipment industry had an average PEG ratio of 1.36.

The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 209, placing it within the bottom 18% of over 250 industries.