The latest trading session saw Deere (DE) ending at $406.04, denoting a -1.53% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.16%. On the other hand, the Dow registered a loss of 0.37%, and the technology-centric Nasdaq increased by 0.78%.

The agricultural equipment manufacturer's stock has dropped by 1.19% in the past month, falling short of the Industrial Products sector's loss of 0.89% and the S&P 500's gain of 1.67%.

Investors will be eagerly watching for the performance of Deere in its upcoming earnings disclosure. The company is expected to report EPS of $3.90, down 52.78% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.34 billion, down 32.35% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $25 per share and revenue of $45.38 billion. These totals would mark changes of -27.81% and -18.32%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for Deere. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.13% lower. Currently, Deere is carrying a Zacks Rank of #3 (Hold).

Investors should also note Deere's current valuation metrics, including its Forward P/E ratio of 16.5. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 16.5.

It's also important to note that DE currently trades at a PEG ratio of 1.37. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Manufacturing - Farm Equipment industry stood at 1.37 at the close of the market yesterday.