Equities analysts predict that Caterpillar Inc. (NYSE:CAT) will post $2.04 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Caterpillar’s earnings. The lowest EPS estimate is $1.87 and the highest is $2.27. Caterpillar posted earnings per share of $1.28 in the same quarter last year, which would suggest a positive year over year growth rate of 59.4%. The firm is expected to issue its next quarterly earnings results on Tuesday, April 24th.
On average, analysts expect that Caterpillar will report full-year earnings of $9.09 per share for the current year, with EPS estimates ranging from $8.80 to $9.50. For the next year, analysts forecast that the business will report earnings of $10.38 per share, with EPS estimates ranging from $9.97 to $11.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Caterpillar.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.39. The business had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $12.01 billion. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The company’s revenue was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 EPS.
Several analysts recently commented on CAT shares. Vetr upgraded shares of Caterpillar from a “strong sell” rating to a “sell” rating and set a $151.72 price target for the company in a research report on Monday, January 15th. BMO Capital Markets upped their price target on shares of Caterpillar from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. Citigroup upped their price target on shares of Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, December 21st. Wells Fargo & Co upped their price target on shares of Caterpillar from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Finally, Credit Suisse Group upped their price target on shares of Caterpillar from $155.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $167.60.
In other news, insider Thomas A. Pellette sold 95,199 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the transaction, the insider now directly owns 96,268 shares of the company’s stock, valued at approximately $15,700,348.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Suzette M. Long sold 528 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the transaction, the general counsel now directly owns 19,646 shares in the company, valued at $3,152,397.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,574 shares of company stock valued at $16,413,346. 0.14% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of CAT. Beach Investment Management LLC. acquired a new position in shares of Caterpillar during the 2nd quarter worth $231,000. IFM Investors Pty Ltd acquired a new position in shares of Caterpillar during the 2nd quarter worth $1,759,000. Gareth Morgan Investments Limited Partnership acquired a new position in shares of Caterpillar during the 2nd quarter worth $1,994,000. Eaton Vance Management grew its stake in shares of Caterpillar by 13.3% during the 2nd quarter. Eaton Vance Management now owns 1,945,586 shares of the industrial products company’s stock worth $209,073,000 after purchasing an additional 227,647 shares during the period. Finally, Systematic Financial Management LP acquired a new position in shares of Caterpillar during the 2nd quarter worth $2,383,000. 68.70% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar (CAT) traded down $0.33 during mid-day trading on Wednesday, reaching $155.23. 4,175,125 shares of the company traded hands, compared to its average volume of 7,090,000. Caterpillar has a 1 year low of $90.34 and a 1 year high of $173.24. The stock has a market cap of $92,350.00, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 1.67 and a beta of 1.22. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.97 and a current ratio of 1.35.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, January 19th. This represents a $3.12 dividend on an annualized basis and a yield of 2.01%. Caterpillar’s payout ratio is currently 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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