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Aug 21, 2020

Deere (DE, $200.79) beats Q3 earnings estimates; boosts 2020 guidance

Deere & Co. reported third quarter earnings that beat expectations. The maker of agricultural machinery also boosted its full-year outlook.

Deere’s adjusted earnings for the three months ending August 2 came in at $2.57 per share, compared to analysts’ expectation of $1.25 per share. The figure is, however, -8.5% lower from the same period last year.

 Revenues fell -11% year-over-year to $8.925 billion, exceeding analysts' forecasts of $6.703 billion.

Looking ahead, the company’s outlook into the end of the 2020 fiscal year sees worldwide agriculture and turf equipment sales declining -10% from last year's levels, a less pessimistic outlook than its prior guidance. According to Deere, construction and forestry equipment sales are likely to fall -25%, compared to the -40% fall predicted in the spring.

Net income is likely to come in at $2.25 billion, compared to a May forecast range of between $1.6 billion and $2 billion.

“Although unsettled market conditions and related customer uncertainty are expected to have a moderating effect on key markets in the near term, we believe Deere is well-positioned to help make our customers more profitable and sustainable,” CEO John May said. “In addition, we are encouraged by the early benefits we are experiencing from the company’s recently launched smart-industrial operating model. We’re confident it will help accelerate our ability to deliver differentiated solutions to our customers, while contributing to improved efficiencies across the company.”  

According to Tickeron, DE enters an Uptrend because Momentum Indicator exceeded the 0 level on August 03, 2020

This indicator signals that DE's price has momentum to move higher, since its current price moved above its price 14 days ago. Traders may consider buying the ticker or exploring call options. In 60 of 89 cases where DE's Momentum Indicator exceeded 0, its price rose further within the subsequent month. The odds of a continued Uptrend are 67%.

Current price $201.04 is above $172.51 the highest resistance line found by A.I. Throughout the month of 07/21/20 - 08/20/20, the price experienced a +9% Uptrend. During the week of 08/13/20 - 08/20/20, the stock enjoyed a +0.84% Uptrend growth.

Technical Analysis (Indicators)

Bullish Trend Analysis

The 50-day Moving Average crossing above its 200-day Moving Average indicates a buy signal, due to the trend repositioning higher. In 2 of 3 cases where DE's 50-day Moving Average crossed above its 200-day Moving Average, its price rose further within the subsequent month. The odds of a continued Uptrend are 67%.

The Aroon Indicator entered an Uptrend today. In 187 of 299 similar cases where DE Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 63%.

Bearish Trend Analysis

The RSI Indicator appears to be shifting from an Uptrend to a Downtrend. In 18 of 35 cases where DE's RSI indicator exited the overbought zone, the price fell further within the following month. The odds of a continued Downtrend are 51%.

The Stochastic Indicator demonstrated that the ticker has stayed in the overbought zone for 11 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Moving Average Convergence Divergence (MACD) crossed below the signal line. In 32 of 50 cases where DE's MACD histogram became negative, the price fell further within the following month. The odds of a continued Downtrend are 64%.

Following a 3-day Decline, the ticker is projected to fall further. Considering data from situations where DE declined for three days, in 152 of 272 cases, the price rose further within the following month. The odds of a continued Downtrend are 56%.

The higher Bollinger Band was broken -- a price fall is expected as the ticker heads toward the middle band, which invites the trader to consider selling or shorting the ticker, or exploring put options. In 24 of 54 cases where DE's price broke its higher Bollinger Band, its price dropped further during the following month. The odds of a continued Downtrend are 44%.

Fundamental Analysis (Ratings)

Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 57%. During the last month, the daily ratio of advancing to declining volumes was 1.35 to 1.

The Tickeron Price Growth Rating for this company is 17 (best 1 - 100 worst), indicating outstanding price growth. DE’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is 18 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 68, placing this stock better than average.

The Tickeron PE Growth Rating for this company is 30 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Valuation Rating of 33 (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: DE's P/B Ratio (5.04) is slightly higher than the industry average of (2.09). P/E Ratio (21.68) is within average values for comparable stocks, (252.88). Projected Growth (PEG Ratio) (0.43) is also within normal values, averaging (9.46). Dividend Yield (1.73) settles around the average of (1.25) among similar stocks. P/S Ratio (1.19) is also within normal values, averaging (0.78).

The Tickeron SMR rating for this company is 46 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

Related Ticker: DE

DE in upward trend: price may ascend as a result of having broken its lower Bollinger Band on July 09, 2024

DE may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 33 cases where DE's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where DE's RSI Indicator exited the oversold zone, of 26 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 63 cases where DE's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for DE just turned positive on July 15, 2024. Looking at past instances where DE's MACD turned positive, the stock continued to rise in of 49 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where DE advanced for three days, in of 339 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on June 28, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on DE as a result. In of 90 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The 50-day moving average for DE moved below the 200-day moving average on July 10, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where DE declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 77%.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 72, placing this stock better than average.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. DE’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: DE's P/B Ratio (5.097) is slightly higher than the industry average of (2.079). P/E Ratio (11.779) is within average values for comparable stocks, (24.791). Projected Growth (PEG Ratio) (2.316) is also within normal values, averaging (2.737). Dividend Yield (0.014) settles around the average of (0.055) among similar stocks. P/S Ratio (1.957) is also within normal values, averaging (119.647).

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

Notable companies

The most notable companies in this group are Caterpillar (NYSE:CAT), Deere & Company (NYSE:DE).

Industry description

The industry designs and builds agricultural, construction and other large commercial and transportation equipment. Tractors, planters and harvesters, as well as rock-crushing, railroad, demolition and other construction implements are produced by this industry. Rapid urbanization and industrialization has been bolstering the expansion of the construction sector in the past few decades, thereby boosting demand for heavy equipment businesses. Caterpillar Inc., Deere & Company and Cummins Inc (Ex. Cummins Engine Inc) are some prominent companies in this industry.

Market Cap

The average market capitalization across the Trucks/Construction/Farm Machinery Industry is 11.48B. The market cap for tickers in the group ranges from 223.29K to 181.64B. CAT holds the highest valuation in this group at 181.64B. The lowest valued company is OSRS at 223.29K.

High and low price notable news

The average weekly price growth across all stocks in the Trucks/Construction/Farm Machinery Industry was 3%. For the same Industry, the average monthly price growth was 0%, and the average quarterly price growth was 3%. CUBXF experienced the highest price growth at 64%, while CLEV experienced the biggest fall at -39%.

Volume

The average weekly volume growth across all stocks in the Trucks/Construction/Farm Machinery Industry was -25%. For the same stocks of the Industry, the average monthly volume growth was 7% and the average quarterly volume growth was -11%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 40
P/E Growth Rating: 69
Price Growth Rating: 54
SMR Rating: 63
Profit Risk Rating: 71
Seasonality Score: -5 (-100 ... +100)
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A.I.Advisor
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A.I. Advisor
published General Information

General Information

a manufacturer of agricultural, industrial, commercial and consumer equipment

Industry TrucksConstructionFarmMachinery

Profile
Fundamentals
Details
Industry
Trucks Or Construction Or Farm Machinery
Address
One John Deere Place
Phone
+1 309 765-8000
Employees
83000
Web
https://www.deere.com
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