Deere Stock Plows to New High Before Earnings

Deere & Company manufactures outdoor equipment for agriculture, construction and snow removal. The stock is up 32.9% year to date and is solidly in bull market territory at 54.5% above its post-election low of $88.61 set on Nov. 8, 2016. The stock set its all-time intraday high of $137.82 on Nov. 20, 2017.

The stock’s strength will be put to a test when the company reports earnings before the opening bell on Wednesday, Nov. 22. Analysts expect Deere to report earnings per share of $1.43 to $1.52 on strong year-over-year comparisons for both earnings and revenue growth. One segment to focus on is growth in South America. (See also: Deere & Co.: How it Makes Money.)

Deere shares are slightly overvalued fundamentally, with a so-so dividend yield and above a “golden cross” but with overbought momentum. …read more

Read more here: Deere Stock Plows to New High Before Earnings

Category: DE

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