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Nothing Runs Like a Deere

Submitted by Bret Beaupain on Tue, 08/18/2009 - 02:12.
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Deere.jpg

Deere & Company (NYSE:DE) will report earnings on Wednesday, August 19.  The consensus estimate is that they will report a 57-cent per share profit for Q2 2009 after a disappointment of 25% less that the same 57-cents per share expected in the previous quarter.

Deere was down today, losing 4.6%, however there may be a reason to be bullish on Deere.  First, nothing runs like a Deere, and second is that the trend seems to be that stock analysts have provided negative earnings estimates…  A little too negative.  The current earnings-per-share estimates for Deere range from 40 cents to 69 cents, often with them tending toward the negative side.

Flat out, this seems like it could be a contrarian play.  If you like Deere and want a good play against the Debbie Downers of the market, Deere is a good candidate.

Deere & Company $42.47
DE -2.06
Short Interest (Shares Short) 9,920,500
Days To Cover (Short Interest Ratio) 2.2
Short Percent of Float 2.35%
Short Interest - Prior 10,977,100
Short % Increase / Decrease -9.63%
Short Squeeze Ranking™ -2
% From 52-Wk High ($ 71.44 ) -68.21%
% From 52-Wk Low ($ 24.51 ) 42.29%
% From 200-Day MA ($ 38.46 ) 9.44%
% From 50-Day MA ($ 41.32 ) 2.71%
Price % Change (52-Week) -33.40%

DE_Chart

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