Stone-Cold Earnings Trade Lock of the Week
Deere (NYSE: DE)
The machinery company reports earnings for the quarter ending April 30, 2012 on Wednesday. Wall Street is looking for a profit of $2.53 per share in the period. That number has held steady over the last 90 days. Deere (DE) has exceeded expectations in each of the last four quarters. Shares of Deere are down more than 10% in the last 12 months. Analysts expect profits to grow 6% from the current fiscal year ending Oct. 31, 2012 to the next. At current prices, shares trade for 10 times current fiscal year estimated earnings.