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Can Deere Keep Rolling in Fiscal 3Q17?

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Can Deere Keep Rolling in Fiscal 3Q17? PART 1 OF 5

Deere Outperforms Peers since Its 2Q17 Earnings

Deere to announce its fiscal 3Q17

Deere (DE) will announce its fiscal 3Q17 earnings on August 18, before the market opens, followed by a conference call. Deere’s financial year is from November 1 to October 31.

In this series, we’ll analyze Deere’s stock performance since it announced its 2Q17 earnings on May 19, 2017. We’ll assess the analysts’ earnings and revenue expectations for fiscal 3Q17, the analyst recommendations, and DE’s latest valuations.

Deere Outperforms Peers since Its 2Q17 Earnings

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Stock performance

Deere announced its 2Q17 earnings on May 19, 2017. Since then, the stock has gained 14.1% (as of August 14, 2017). It outperformed peers Agco (AGCO), Caterpillar (CAT), and CNH Industrial (CNHI), which have returned 13.5%, 13.5%, and 8.6%, respectively. DE has also managed to outperform the broader-based SPDR S&P 500 ETF (SPY), which has returned 4.1% during the same period.

DE’s strong performance was primarily driven by its outstanding 2Q17 earnings. DE reported EPS (earnings per share) of $2.49, compared with the analysts’ estimate of $1.67. The news of DE’s acquisition of Wirtgen Group for 4.36 billion euros has also boosted the stock price and should help DE’s future growth.

Moving average and relative strength index

DE’s gains have caused the stock to trade 7.3% above the 100-day moving average price of $119.77, indicating an upward trend. Deere’s 14-day RSI (relative strength index) of 53 indicates that the stock is neither overbought nor oversold. An RSI of 70 and above is a sign of an overbought position, while an RSI of 30 and below is a sign of an oversold position.

In the next part, we’ll analyze Deere’s revenue expectations for fiscal 3Q17.

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