Wall Street brokerages expect that Caterpillar Inc. (NYSE:CAT) will post earnings per share (EPS) of $3.12 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Caterpillar’s earnings. The lowest EPS estimate is $3.00 and the highest is $3.23. Caterpillar reported earnings per share of $2.97 during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.1%. The company is expected to report its next quarterly earnings report on Monday, July 29th.
On average, analysts expect that Caterpillar will report full-year earnings of $12.25 per share for the current financial year, with EPS estimates ranging from $11.84 to $12.45. For the next year, analysts expect that the firm will post earnings of $12.93 per share, with EPS estimates ranging from $10.30 to $13.80. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that cover Caterpillar.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.94 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.10. Caterpillar had a return on equity of 45.08% and a net margin of 11.50%. The firm had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.36 billion. During the same quarter in the previous year, the company posted $2.82 EPS. The business’s revenue was up 4.7% on a year-over-year basis.
CAT has been the topic of several research analyst reports. UBS Group lowered Caterpillar from a “buy” rating to a “sell” rating and cut their target price for the company from $154.00 to $125.00 in a research report on Tuesday, February 26th. Bank of America set a $152.00 price objective on Caterpillar and gave the stock a “buy” rating in a research note on Thursday, April 4th. Deutsche Bank downgraded Caterpillar from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $152.00 to $128.00 in a research note on Wednesday, April 3rd. Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a research note on Tuesday, April 2nd. Finally, ValuEngine raised Caterpillar from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $145.39.
Shares of NYSE CAT traded down $0.18 during trading on Wednesday, reaching $127.29. The company had a trading volume of 193,330 shares, compared to its average volume of 4,696,507. Caterpillar has a 12 month low of $112.06 and a 12 month high of $161.60. The firm has a market capitalization of $71.66 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 0.85 and a beta of 1.45. The company has a current ratio of 1.43, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a $1.03 dividend. The ex-dividend date is Friday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.86. This represents a $4.12 annualized dividend and a dividend yield of 3.24%. Caterpillar’s dividend payout ratio is currently 30.66%.
Hedge funds have recently added to or reduced their stakes in the company. Standard Life Aberdeen plc raised its holdings in Caterpillar by 9.7% during the 3rd quarter. Standard Life Aberdeen plc now owns 209,886 shares of the industrial products company’s stock worth $32,008,000 after buying an additional 18,610 shares during the period. Nordea Investment Management AB grew its stake in shares of Caterpillar by 18.4% in the 3rd quarter. Nordea Investment Management AB now owns 288,999 shares of the industrial products company’s stock valued at $44,068,000 after buying an additional 44,862 shares in the last quarter. Morgan Stanley grew its stake in shares of Caterpillar by 15.4% in the 3rd quarter. Morgan Stanley now owns 4,001,534 shares of the industrial products company’s stock valued at $610,195,000 after buying an additional 534,061 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Caterpillar by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 49,811,616 shares of the industrial products company’s stock valued at $7,595,773,000 after buying an additional 534,451 shares in the last quarter. Finally, North Star Investment Management Corp. grew its stake in shares of Caterpillar by 1.1% in the 4th quarter. North Star Investment Management Corp. now owns 9,649 shares of the industrial products company’s stock valued at $1,226,000 after buying an additional 105 shares in the last quarter. 67.63% of the stock is owned by institutional investors.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, 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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