Wall Street brokerages expect that Caterpillar Inc. (NYSE:CAT) will announce sales of $12.48 billion for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Caterpillar’s earnings, with the highest sales estimate coming in at $12.88 billion and the lowest estimate coming in at $11.76 billion. Caterpillar reported sales of $9.88 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.3%. The business is expected to announce its next quarterly earnings results on Tuesday, October 26th.
On average, analysts expect that Caterpillar will report full year sales of $50.82 billion for the current financial year, with estimates ranging from $48.77 billion to $51.69 billion. For the next financial year, analysts expect that the company will post sales of $56.79 billion, with estimates ranging from $54.53 billion to $59.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Caterpillar.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, July 29th. The industrial products company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.38 by $0.22. Caterpillar had a net margin of 9.57% and a return on equity of 30.80%. The business had revenue of $12.89 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the business posted $1.03 EPS. The business’s quarterly revenue was up 28.9% compared to the same quarter last year.
Several research firms recently issued reports on CAT. Zacks Investment Research cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 target price for the company. in a research note on Wednesday, June 30th. Tigress Financial reiterated a “buy” rating and issued a $270.00 target price on shares of Caterpillar in a research note on Friday, August 6th. UBS Group boosted their target price 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. Stifel Nicolaus boosted their target price on shares of Caterpillar from $222.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, May 3rd. Finally, Morgan Stanley decreased their target price on shares of Caterpillar from $181.00 to $172.00 and set an “underweight” rating for the company in a research note on Monday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Caterpillar has a consensus rating of “Hold” and an average price target of $233.80.
In related news, insider Joseph E. Creed sold 7,699 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Maclennan acquired 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The shares were purchased at an average price of $206.20 per share, with a total value of $103,100.00. The disclosure for this purchase can be found here. 0.18% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Brand Asset Management Group Inc. purchased a new position in shares of Caterpillar in the first quarter valued at approximately $26,000. Elmwood Wealth Management Inc. purchased a new position in shares of Caterpillar in the first quarter valued at approximately $26,000. CKW Financial Group purchased a new position in shares of Caterpillar in the second quarter valued at approximately $32,000. Versant Capital Management Inc boosted its stake in shares of Caterpillar by 51.0% in the first quarter. Versant Capital Management Inc now owns 145 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 49 shares during the period. Finally, Wagner Wealth Management LLC purchased a new position in shares of Caterpillar in the first quarter valued at approximately $35,000. 64.79% of the stock is owned by institutional investors.
Shares of NYSE CAT opened at $218.57 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.10 and a current ratio of 1.56. Caterpillar has a 12 month low of $135.65 and a 12 month high of $246.69. The company’s 50 day simple moving average is $214.88. The firm has a market cap of $119.66 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.72 and a beta of 0.91.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 20th. Stockholders of record on Tuesday, July 20th will be issued a dividend of $1.11 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, July 19th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.03%. Caterpillar’s dividend payout ratio is presently 67.68%.
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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