Analysts expect Caterpillar Inc. (NYSE:CAT) to report $2.76 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Caterpillar’s earnings, with the highest EPS estimate coming in at $2.96 and the lowest estimate coming in at $2.39. Caterpillar posted earnings of $1.95 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 41.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, October 23rd.
On average, analysts expect that Caterpillar will report full-year earnings of $11.54 per share for the current financial year, with EPS estimates ranging from $10.55 to $11.80. For the next fiscal year, analysts anticipate that the firm will report earnings of $12.87 per share, with EPS estimates ranging from $11.65 to $13.85. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Caterpillar.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 EPS for the quarter, beating the Zacks’ consensus estimate of $2.73 by $0.24. The business had revenue of $14.01 billion during the quarter, compared to analyst estimates of $14.09 billion. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. Caterpillar’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.49 EPS.
CAT has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of Caterpillar from $174.00 to $168.00 and set a “hold” rating for the company in a research note on Tuesday, August 7th. Daiwa Capital Markets lowered shares of Caterpillar from an “outperform” rating to a “neutral” rating and set a $160.00 target price for the company. in a research note on Wednesday, April 25th. TheStreet upgraded shares of Caterpillar from a “c+” rating to an “a-” rating in a research note on Tuesday, April 24th. Morgan Stanley set a $185.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, April 25th. Finally, Citigroup upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Monday, April 23rd. Thirteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $171.85.
CAT stock traded down $2.60 during midday trading on Friday, reaching $135.92. 6,267,106 shares of the company’s stock traded hands, compared to its average volume of 4,853,549. The firm has a market capitalization of $82.33 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38. The company has a current ratio of 1.37, a quick ratio of 0.97 and a debt-to-equity ratio of 1.59. Caterpillar has a 52 week low of $112.69 and a 52 week high of $173.24.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Friday, July 20th will be issued a $0.86 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $0.78. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, July 19th. Caterpillar’s payout ratio is 50.00%.
In related news, Director David L. Calhoun purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were bought at an average cost of $155.37 per share, with a total value of $776,850.00. Following the acquisition, the director now owns 19,579 shares of the company’s stock, valued at $3,041,989.23. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.36% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB lifted its holdings in Caterpillar by 2.2% during the second quarter. Xact Kapitalforvaltning AB now owns 62,254 shares of the industrial products company’s stock valued at $8,446,000 after purchasing an additional 1,367 shares during the last quarter. Claraphi Advisory Network LLC lifted its holdings in Caterpillar by 19.5% during the first quarter. Claraphi Advisory Network LLC now owns 11,296 shares of the industrial products company’s stock valued at $1,665,000 after purchasing an additional 1,843 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Caterpillar during the first quarter valued at about $1,198,000. Dynamic Advisor Solutions LLC purchased a new stake in Caterpillar during the first quarter valued at about $251,000. Finally, State of Alaska Department of Revenue lifted its holdings in Caterpillar by 26.4% during the second quarter. State of Alaska Department of Revenue now owns 88,328 shares of the industrial products company’s stock valued at $11,981,000 after purchasing an additional 18,442 shares during the last quarter. 67.17% of the stock is currently owned by institutional investors.
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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