Wall Street analysts expect that Caterpillar Inc. (NYSE:CAT) will post $2.62 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Caterpillar’s earnings. The highest EPS estimate is $2.76 and the lowest is $2.41. Caterpillar reported earnings per share of $1.49 during the same quarter last year, which would suggest a positive year-over-year growth rate of 75.8%. The company is expected to announce its next earnings report on Tuesday, July 24th.
According to Zacks, analysts expect that Caterpillar will report full-year earnings of $10.70 per share for the current financial year, with EPS estimates ranging from $10.40 to $11.00. For the next fiscal year, analysts anticipate that the business will post earnings of $12.03 per share, with EPS estimates ranging from $11.62 to $12.57. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Caterpillar.
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Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.71. Caterpillar had a return on equity of 34.38% and a net margin of 4.59%. The business had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.99 billion. During the same period in the prior year, the company posted $1.28 EPS. The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year.
Several research firms have weighed in on CAT. Vetr downgraded Caterpillar from a “buy” rating to a “hold” rating and set a $169.96 price target for the company. in a research note on Tuesday, February 27th. Argus upped their price target on Caterpillar from $155.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. ValuEngine upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. UBS set a $190.00 price target on Caterpillar and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $174.00 price target (down from $176.00) on shares of Caterpillar in a research note on Monday, May 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $172.55.
Caterpillar traded down $1.85, hitting $155.85, during midday trading on Friday, Marketbeat reports. The company’s stock had a trading volume of 2,359,721 shares, compared to its average volume of 4,342,853. Caterpillar has a 12 month low of $102.30 and a 12 month high of $173.24. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.36 and a quick ratio of 0.96. The company has a market capitalization of $93.19 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 1.10 and a beta of 1.31.
The business also recently declared a quarterly dividend, which was paid on Saturday, May 19th. Investors of record on Monday, April 23rd were issued a dividend of $0.78 per share. The ex-dividend date was Friday, April 20th. This represents a $3.12 annualized dividend and a yield of 2.00%. Caterpillar’s payout ratio is presently 45.35%.
In related news, insider Thomas A. Pellette sold 54,481 shares of the stock in a transaction on Monday, May 7th. The stock was sold at an average price of $150.17, for a total transaction of $8,181,411.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph E. Creed sold 4,532 shares of the stock in a transaction on Friday, May 11th. The shares were sold at an average price of $155.67, for a total value of $705,496.44. Following the sale, the chief financial officer now owns 2,554 shares in the company, valued at approximately $397,581.18. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CAT. BlackRock Inc. grew its position in Caterpillar by 6.5% in the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock valued at $5,919,590,000 after acquiring an additional 2,297,750 shares during the last quarter. Prudential Financial Inc. grew its position in Caterpillar by 99.6% in the 1st quarter. Prudential Financial Inc. now owns 1,990,874 shares of the industrial products company’s stock valued at $293,415,000 after acquiring an additional 993,438 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Caterpillar in the 4th quarter valued at $148,604,000. CI Investments Inc. grew its position in Caterpillar by 400,906.6% in the 4th quarter. CI Investments Inc. now owns 665,671 shares of the industrial products company’s stock valued at $104,896,000 after acquiring an additional 665,505 shares during the last quarter. Finally, Fred Alger Management Inc. bought a new position in Caterpillar in the 4th quarter valued at $103,179,000. Institutional investors own 66.86% of the company’s stock.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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