October 22, 2021

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Caterpillar Inc. (NYSE:CAT) Expected to Post Quarterly Sales of $12.44 Billion

Wall Street brokerages predict that Caterpillar Inc. (NYSE:CAT) will announce sales of $12.44 billion for the current quarter, according to Zacks Investment Research. Five 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 indicates a positive year over year growth rate of 24.4%. The business is scheduled to report its next quarterly earnings results on Friday, July 30th.

On average, analysts expect that Caterpillar will report full-year sales of $49.20 billion for the current financial year, with estimates ranging from $47.42 billion to $50.45 billion. For the next fiscal year, analysts expect that the company will report sales of $55.01 billion, with estimates ranging from $53.08 billion to $58.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Caterpillar.

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, beating the Zacks’ consensus estimate of $1.93 by $0.94. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $1.60 EPS.

A number of brokerages have commented on CAT. Deutsche Bank Aktiengesellschaft lifted their price target on Caterpillar from $259.00 to $273.00 and gave the stock a “buy” rating in a research note on Friday, June 4th. Evercore ISI boosted their target price on Caterpillar from $240.00 to $303.00 in a research note on Wednesday, May 12th. BMO Capital Markets boosted their target price on Caterpillar from $190.00 to $230.00 and gave the company a “market perform” rating in a research note on Friday, April 30th. Wolfe Research initiated coverage on Caterpillar in a research note on Monday, April 19th. They set an “outperform” rating and a $265.00 target price on the stock. Finally, Morgan Stanley boosted their target price on Caterpillar from $168.00 to $181.00 and gave the company an “underweight” rating in a research note on Friday, April 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $223.86.

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Shares of Caterpillar stock opened at $217.76 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 stock has a 50 day moving average of $230.54. The stock has a market cap of $119.29 billion, a PE ratio of 34.84, a P/E/G ratio of 1.88 and a beta of 0.92. Caterpillar has a one year low of $125.11 and a one year high of $246.69.

The company also recently disclosed 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 2.04%. The ex-dividend date of this dividend is Monday, July 19th. This is a boost from Caterpillar’s previous quarterly dividend of $1.03. Caterpillar’s dividend payout ratio is 62.80%.

In related news, insider Joseph E. Creed sold 7,699 shares of the company’s stock in a transaction on Friday, June 4th. The stock was 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 is accessible through the SEC website. Also, Director David Maclennan purchased 420 shares of Caterpillar stock in a transaction on Wednesday, May 5th. The stock was bought at an average price of $237.86 per share, with a total value of $99,901.20. Following the transaction, the director now 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.

Institutional investors and hedge funds have recently modified their holdings of the business. Nwam LLC boosted its position in Caterpillar by 1.1% during the 1st quarter. Nwam LLC now owns 4,023 shares of the industrial products company’s stock valued at $933,000 after acquiring an additional 44 shares in the last quarter. Essex Savings Bank boosted its position in Caterpillar by 0.8% during the 1st quarter. Essex Savings Bank now owns 5,588 shares of the industrial products company’s stock valued at $1,206,000 after acquiring an additional 45 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Caterpillar by 0.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 12,494 shares of the industrial products company’s stock valued at $2,274,000 after acquiring an additional 47 shares in the last quarter. Gradient Capital Advisors LLC boosted its position in Caterpillar by 3.9% during the 1st quarter. Gradient Capital Advisors LLC now owns 1,247 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 47 shares in the last quarter. Finally, J. W. Coons Advisors LLC boosted its position in Caterpillar by 1.0% during the 1st quarter. J. W. Coons Advisors LLC now owns 4,791 shares of the industrial products company’s stock valued at $1,112,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Caterpillar Company Profile

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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Earnings History and Estimates for Caterpillar (NYSE:CAT)

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