Analysts expect Caterpillar Inc. (NYSE:CAT) to report sales of $13.69 billion for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Caterpillar’s earnings. The highest sales estimate is $13.96 billion and the lowest is $13.28 billion. Caterpillar posted sales of $14.34 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 4.5%. The business is expected to issue its next quarterly earnings report before the market opens on Friday, January 31st.
According to Zacks, analysts expect that Caterpillar will report full-year sales of $54.28 billion for the current fiscal year, with estimates ranging from $53.80 billion to $54.61 billion. For the next year, analysts anticipate that the firm will post sales of $52.14 billion, with estimates ranging from $49.78 billion to $54.93 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Caterpillar.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.16). Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. The company had revenue of $12.76 billion during the quarter, compared to analyst estimates of $13.49 billion. During the same period in the prior year, the business earned $2.86 EPS. Caterpillar’s revenue for the quarter was down 5.6% on a year-over-year basis.
A number of research firms recently issued reports on CAT. ValuEngine upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Co lowered Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 target price on the stock. in a research report on Wednesday, September 11th. Credit Suisse Group reiterated a “buy” rating and issued a $150.00 target price on shares of Caterpillar in a report on Thursday, October 24th. Cleveland Research reiterated a “hold” rating on shares of Caterpillar in a report on Monday, September 30th. Finally, UBS Group lowered their price target on Caterpillar to $110.00 and set a “sell” rating for the company in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $138.93.
CAT stock traded up $0.93 during trading on Monday, hitting $141.05. The stock had a trading volume of 2,044,574 shares, compared to its average volume of 4,207,002. The company’s 50 day moving average price is $141.51 and its two-hundred day moving average price is $130.22. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 1.44. The stock has a market cap of $79.99 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.52 and a beta of 1.54. Caterpillar has a 1-year low of $111.75 and a 1-year high of $148.47.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a dividend of $1.03 per share. The ex-dividend date was Friday, October 18th. This represents a $4.12 annualized dividend and a yield of 2.92%. Caterpillar’s payout ratio is 36.72%.
In other Caterpillar news, General Counsel Suzette M. Long sold 5,019 shares of Caterpillar stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the completion of the transaction, the general counsel now directly owns 12,569 shares in the company, valued at $1,587,967.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Denise C. Johnson sold 68,993 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $146.37, for a total value of $10,098,505.41. Insiders have sold 95,141 shares of company stock worth $13,717,142 over the last three months. 0.37% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CAT. Tortoise Investment Management LLC raised its holdings in Caterpillar by 3,600.0% during the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after buying an additional 180 shares in the last quarter. Prestige Wealth Management Group LLC bought a new position in shares of Caterpillar during the 2nd quarter valued at approximately $27,000. Private Ocean LLC lifted its position in Caterpillar by 62.9% during the third quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. G&S Capital LLC purchased a new position in Caterpillar during the 3rd quarter valued at $38,000. Finally, Kavar Capital Partners LLC bought a new stake in shares of Caterpillar during the second quarter worth $46,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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