Equities analysts predict that Caterpillar Inc. (NYSE:CAT) will announce $12.34 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Caterpillar’s earnings, with estimates ranging from $11.37 billion to $13.01 billion. Caterpillar posted sales of $10.00 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.4%. The firm is expected to report its next quarterly earnings report on Friday, July 30th.
On average, analysts expect that Caterpillar will report full year sales of $49.07 billion for the current financial year, with estimates ranging from $47.42 billion to $50.45 billion. For the next year, analysts expect that the business will report sales of $55.10 billion, with estimates ranging from $53.08 billion to $58.63 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Caterpillar.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, April 29th. The industrial products company reported $2.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.94. Caterpillar had a net margin of 7.99% and a return on equity of 26.63%. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11 billion. During the same period in the prior year, the company posted $1.60 EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis.
CAT has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $205.00 to $237.00 and gave the company an “overweight” rating in a research note on Thursday, February 25th. Wolfe Research initiated coverage on shares of Caterpillar in a research note on Monday, April 19th. They issued an “outperform” rating and a $265.00 price objective on the stock. UBS Group increased their price objective on shares of Caterpillar from $230.00 to $252.00 and gave the company a “neutral” rating in a research note on Wednesday, May 12th. The Goldman Sachs Group reissued a “buy” rating and issued a $264.00 price objective on shares of Caterpillar in a research note on Thursday, May 27th. Finally, BMO Capital Markets upped their target price on shares of Caterpillar from $190.00 to $230.00 and gave the company a “market perform” rating in a report on Friday, April 30th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $219.29.
In related news, insider Joseph E. Creed sold 7,699 shares of the stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $245.12, for a total transaction of $1,887,178.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Maclennan acquired 420 shares of the stock in a transaction on Wednesday, May 5th. The stock was purchased at an average cost of $237.86 per share, with a total value of $99,901.20. Following the transaction, the director now directly owns 890 shares of the company’s stock, valued at $211,695.40. The disclosure for this purchase can be found here. 0.18% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Brand Asset Management Group Inc. acquired a new stake in Caterpillar in the first quarter valued at approximately $26,000. Elmwood Wealth Management Inc. acquired a new stake in shares of Caterpillar during the first quarter worth approximately $26,000. Versant Capital Management Inc grew its position in shares of Caterpillar by 51.0% during the first quarter. Versant Capital Management Inc now owns 145 shares of the industrial products company’s stock worth $34,000 after buying an additional 49 shares in the last quarter. Psagot Investment House Ltd. grew its position in shares of Caterpillar by 105.5% during the first quarter. Psagot Investment House Ltd. now owns 150 shares of the industrial products company’s stock worth $35,000 after buying an additional 77 shares in the last quarter. Finally, Wagner Wealth Management LLC acquired a new stake in shares of Caterpillar during the first quarter worth approximately $35,000. 68.22% of the stock is owned by institutional investors.
Shares of NYSE CAT opened at $219.01 on Tuesday. The firm has a market cap of $119.97 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. Caterpillar has a 52 week low of $118.01 and a 52 week high of $246.69. The company has a 50-day simple moving average of $234.90. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.15 and a current ratio of 1.60.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 20th. Investors of record on Tuesday, July 20th will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Monday, July 19th. This is an increase from Caterpillar’s previous quarterly dividend of $1.03. Caterpillar’s dividend payout ratio is 62.80%.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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