Harvest Some Future Profits

With the Dow back above 14,000, it is getting harder to find great values. However, agricultural-equipment giant Deere (DE) remains a high-quality stock that does not appear fully priced. Despite all-time record earnings per share of $7.64 in fiscal 2012 (ended Oct. 31), the shares have pulled back from a recent $95.60. Deere finished last week at $87.13.

January's fiscal first quarter came in better than expected, at $1.65 EPS vs. $1.30. That puts Deere's trailing 12-month earnings at $7.99 per share. Zacks sees fiscal 2013 and 2014 coming in at $8.53 and $8.93, respectively. Deere now trades for 10.9x this year's expectations and under 9.8x next year's targets. Those compare quite favorably with the stock's historical 10-year median price-to-earnings ratio of 13x....261 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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