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Deere in Fiscal 2Q17: What Kind of Harvest Will It Be?

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Deere in Fiscal 2Q17: What Kind of Harvest Will It Be? PART 1 OF 4

Deere Stock Performance since Fiscal 1Q17 Earnings

Deere to announce 2Q17 earnings

Deere & Company (DE) is set to announce its fiscal 2Q17 earnings on May 19, 2017, before the market opens. Deere’s financial year is from November 1 through October 31.

In this series, we’ll look at the performance of DE stock since the company released its 1Q17 earnings on February 17, 2017. We’ll also look at analysts’ revenue forecasts, EPS (earnings per share) estimates, and recommendations.

Deere Stock Performance since Fiscal 1Q17 Earnings

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Stock performance

Deere announced its 1Q17 earnings on February 17, 2017. From that date until May 15, 2017, DE has risen 3.2%. It outperformed its peer Agco (AGCO) and the broad-based SPDR S&P 500 ETF (SPY), which rose 0.20% and 2.2%, respectively. However, DE underperformed Caterpillar (CAT) and CNH Industrial (CNHI), which rose 3.6% and 14.5%, respectively.

DE stock continued to rise after it repeatedly beat analysts’ consensus in the previous quarters. In the past three months, Deere has upgraded and introduced new products, hoping to improve sales in its equipment division.

Moving average and relative strength index

Deere’s gains after its 1Q17 earnings pushed the stock to an all-time high, closing at $113.80 on May 15, 2017. As a result, the stock traded 4.7% above its 100-day moving average of $108.69, indicating an upward trend in the stock.

Deere has a 14-day RSI (relative strength index) of 61, which indicates that the stock is neither overbought nor oversold. An RSI score of 70 and above means a stock has moved temporarily into an overbought situation. An RSI score below 30 indicates that a stock has moved temporarily into an oversold position.

Next, let’s analyze analysts’ revenue expectations for Deere in 2Q17.

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