Equities analysts predict that Caterpillar Inc. (NYSE:CAT) will announce $11.58 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Caterpillar’s earnings. The highest sales estimate is $12.35 billion and the lowest is $10.86 billion. Caterpillar reported sales of $9.82 billion during the same quarter last year, which would indicate a positive year over year growth rate of 17.9%. The company is expected to issue its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Caterpillar will report full-year sales of $11.58 billion for the current financial year, with estimates ranging from $49.60 billion to $51.93 billion. For the next financial year, analysts expect that the firm will report sales of $54.39 billion per share, with estimates ranging from $53.00 billion to $55.85 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Caterpillar.
Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.39. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The firm had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.01 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s revenue was up 34.7% on a year-over-year basis.
Several research firms have recently weighed in on CAT. Citigroup increased their price objective on Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, December 21st. Vetr raised Caterpillar from a “hold” rating to a “buy” rating and set a $170.44 price objective for the company in a research report on Monday, January 29th. Argus increased their price objective on Caterpillar from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Bank of America reissued a “buy” rating and issued a $189.00 price objective (up from $158.00) on shares of Caterpillar in a research report on Friday, January 12th. Finally, Credit Suisse Group increased their price objective on Caterpillar from $146.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. Caterpillar has an average rating of “Buy” and a consensus price target of $167.60.
In other Caterpillar news, insider Thomas A. Pellette sold 95,199 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the completion of the transaction, the insider now directly owns 96,268 shares in the company, valued at $15,700,348.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jananne A. Copeland sold 3,247 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $136.95, for a total value of $444,676.65. Following the transaction, the insider now owns 8,908 shares of the company’s stock, valued at $1,219,950.60. The disclosure for this sale can be found here. Insiders sold 101,574 shares of company stock valued at $16,413,346 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Colonial Trust Advisors raised its stake in Caterpillar by 25.4% during the fourth quarter. Colonial Trust Advisors now owns 18,716 shares of the industrial products company’s stock worth $2,949,000 after acquiring an additional 3,796 shares in the last quarter. Cedar Hill Associates LLC raised its stake in Caterpillar by 11.2% during the fourth quarter. Cedar Hill Associates LLC now owns 7,839 shares of the industrial products company’s stock worth $1,235,000 after acquiring an additional 791 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in Caterpillar by 14.4% during the fourth quarter. Xact Kapitalforvaltning AB now owns 55,029 shares of the industrial products company’s stock worth $8,671,000 after acquiring an additional 6,913 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Caterpillar by 182.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 54,916 shares of the industrial products company’s stock worth $8,653,000 after acquiring an additional 35,447 shares in the last quarter. Finally, CNB Bank acquired a new position in Caterpillar during the fourth quarter worth $568,000. Hedge funds and other institutional investors own 68.70% of the company’s stock.
Caterpillar (NYSE:CAT) traded down $0.33 on Friday, hitting $155.23. The stock had a trading volume of 4,175,125 shares, compared to its average volume of 7,090,000. Caterpillar has a 12 month low of $90.34 and a 12 month high of $173.24. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $92,350.00, a PE ratio of 29.68, a price-to-earnings-growth ratio of 1.67 and a beta of 1.22.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Monday, January 22nd were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, January 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.01%. Caterpillar’s payout ratio is 59.66%.
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Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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