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Analyzing Deere's Quarterly Dividend before Its Record Date

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Part 5
Analyzing Deere's Quarterly Dividend before Its Record Date PART 5 OF 5

Deere Outperformed the Broader Market, Trailed Its Peers

Deere’s stock performance

So far in 2017, Deere’s (DE) stock price has made decent gains. As of September 18, 2017, Deere has returned 16.30% and managed to outperform the broad-based SPDR S&P 500 ETF (SPY), which has returned 11.70%. However, Deere underperformed its peers Caterpillar (CAT), AGCO (AGCO), and CNH Industrials (CNHI), which have returned 33.50%, 24%, and 35.50%, respectively.

Deere Outperformed the Broader Market, Trailed Its Peers

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Deere’s stock performance is primarily driven by three quarters of good earnings that beat analysts’ earnings estimate. Deere revised its net income guidance to $2.07 billion for fiscal 2017 from the previous guidance of $2.0 billion. Deere’s stock price has fallen since its fiscal 3Q17 earnings. Its 3Q17 revenue fell short of analysts’ expectations. However, Deere has projected a 10% increase in equipment sales for fiscal 2017. During this period, Deere acquired Wirtgen Group, Mazzotti, and Blue River Technology, which helped drive the stock prices up.

Deere’s moving average and RSI

Until its 3Q17 earnings were announced, Deere was trading above the 100-day moving average price. After its 3Q17 earnings, the stock prices fell. As a result, Deere is trading 1.60% below the 100-day moving average price of $121.85, which indicates weakness in the stock. Deere’s RSI (relative strength index) of 53 indicates that the stock isn’t overbought or oversold. An RSI of 30 and below indicates that the stock has temporarily moved into an oversold position. An RSI of 70 and above suggests that the stock has temporarily moved into an overbought position.

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