Equities analysts forecast that Caterpillar Inc. (NYSE:CAT) will report sales of $11.58 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Caterpillar’s earnings, with the lowest sales estimate coming in at $10.86 billion and the highest estimate coming in at $12.35 billion. Caterpillar posted sales of $9.82 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 17.9%. The firm is scheduled to issue its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Caterpillar will report full-year sales of $11.58 billion for the current fiscal year, with estimates ranging from $49.60 billion to $51.93 billion. For the next financial year, analysts forecast that the company will post sales of $54.39 billion per share, with estimates ranging from $53.00 billion to $55.85 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Caterpillar.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.39. The firm had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $12.01 billion. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS.
Several analysts have issued reports on the company. Citigroup boosted their price objective on Caterpillar from $145.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, December 21st. Vetr upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $170.44 price objective on the stock in a report on Monday, January 29th. Argus boosted their price objective on Caterpillar from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Bank of America restated a “buy” rating and set a $189.00 price objective (up previously from $158.00) on shares of Caterpillar in a report on Friday, January 12th. Finally, Credit Suisse Group boosted their price objective on Caterpillar from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $167.60.
Caterpillar (NYSE CAT) traded down $0.33 during midday trading on Friday, reaching $155.23. The company’s stock had a trading volume of 4,175,125 shares, compared to its average volume of 7,090,000. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.73. The firm has a market cap of $92,350.00, a P/E ratio of 29.68, a PEG ratio of 1.67 and a beta of 1.22. Caterpillar has a 12-month low of $90.34 and a 12-month high of $173.24.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, January 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.01%. Caterpillar’s dividend payout ratio is 59.66%.
In related news, insider Jananne A. Copeland sold 3,247 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $136.95, for a total value of $444,676.65. Following the transaction, the insider now owns 8,908 shares in the company, valued at $1,219,950.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas A. Pellette sold 95,199 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the completion of the transaction, the insider now owns 96,268 shares in the company, valued at approximately $15,700,348.12. The disclosure for this sale can be found here. Insiders sold a total of 101,574 shares of company stock worth $16,413,346 in the last quarter. 0.14% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Beach Investment Management LLC. bought a new stake in Caterpillar during the second quarter worth approximately $231,000. Northwest Quadrant Wealth Management LLC boosted its position in Caterpillar by 1.9% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 5,661 shares of the industrial products company’s stock worth $648,000 after purchasing an additional 108 shares during the period. Aberdeen Asset Management PLC UK boosted its position in Caterpillar by 19.8% during the second quarter. Aberdeen Asset Management PLC UK now owns 183,126 shares of the industrial products company’s stock worth $19,679,000 after purchasing an additional 30,307 shares during the period. Pittenger & Anderson Inc. boosted its position in Caterpillar by 1,284.4% during the second quarter. Pittenger & Anderson Inc. now owns 22,150 shares of the industrial products company’s stock worth $2,380,000 after purchasing an additional 20,550 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Caterpillar by 24.0% during the second quarter. Alliancebernstein L.P. now owns 1,187,116 shares of the industrial products company’s stock worth $127,567,000 after purchasing an additional 230,050 shares during the period. Hedge funds and other institutional investors own 68.70% of the company’s stock.
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Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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