Caterpillar (NYSE:CAT) is scheduled to issue its quarterly earnings data before the market opens on Friday, July 30th. Analysts expect the company to announce earnings of $2.36 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 29th. The industrial products company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.94. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11 billion. Caterpillar had a return on equity of 26.63% and a net margin of 7.99%. Caterpillar’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 EPS. On average, analysts expect Caterpillar to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.
Caterpillar stock opened at $209.16 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $114.58 billion, a P/E ratio of 33.47, a PEG ratio of 1.80 and a beta of 0.92. Caterpillar has a 12 month low of $130.21 and a 12 month high of $246.69. The company has a 50-day moving average price of $224.25.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 20th. Shareholders of record on Tuesday, July 20th will be given a $1.11 dividend. The ex-dividend date is Monday, July 19th. This is an increase from Caterpillar’s previous quarterly dividend of $1.03. This represents a $4.44 annualized dividend and a yield of 2.12%. Caterpillar’s dividend payout ratio (DPR) is currently 67.68%.
CAT has been the subject of several research reports. Evercore ISI increased their target price on Caterpillar from $240.00 to $303.00 in a research report on Wednesday, May 12th. UBS Group increased their target price on Caterpillar from $230.00 to $252.00 and gave the company a “neutral” rating in a research report on Wednesday, May 12th. Deutsche Bank Aktiengesellschaft dropped their target price on Caterpillar from $273.00 to $258.00 and set a “buy” rating for the company in a research report on Wednesday, July 14th. The Goldman Sachs Group reiterated a “buy” rating and issued a $264.00 target price on shares of Caterpillar in a research report on Thursday, May 27th. Finally, Stifel Nicolaus increased their price target on Caterpillar from $222.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, May 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. Caterpillar has an average rating of “Hold” and a consensus target price of $227.55.
In other news, Director David Maclennan purchased 420 shares of the business’s stock in a transaction on Wednesday, May 5th. The shares were acquired at an average price of $237.86 per share, for a total transaction of $99,901.20. Following the completion of the acquisition, the director now owns 890 shares in the company, valued at $211,695.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph E. Creed sold 7,699 shares of the stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $245.12, for a total value of $1,887,178.88. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.
A hedge fund recently raised its stake in Caterpillar stock. Camden National Bank increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,833 shares of the industrial products company’s stock after acquiring an additional 160 shares during the quarter. Camden National Bank’s holdings in Caterpillar were worth $333,000 as of its most recent SEC filing. Institutional investors own 68.11% of the company’s stock.
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.
See Also: Why do analysts give a neutral rating?
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