Analysts expect Caterpillar Inc. (NYSE:CAT) to post $2.57 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Caterpillar’s earnings, with the highest EPS estimate coming in at $2.76 and the lowest estimate coming in at $2.15. Caterpillar posted earnings per share of $1.49 during the same quarter last year, which indicates a positive year-over-year growth rate of 72.5%. The business is scheduled to announce its next earnings results on Tuesday, July 24th.
On average, analysts expect that Caterpillar will report full-year earnings of $10.39 per share for the current financial year, with EPS estimates ranging from $8.80 to $11.00. For the next financial year, analysts forecast that the company will post earnings of $11.73 per share, with EPS estimates ranging from $9.98 to $12.57. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Caterpillar.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.71. The company had revenue of $12.86 billion during the quarter, compared to analysts’ expectations of $11.99 billion. Caterpillar had a return on equity of 34.38% and a net margin of 4.59%. Caterpillar’s revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 EPS.
A number of analysts have recently commented on CAT shares. Vetr raised Caterpillar from a “strong sell” rating to a “sell” rating and set a $151.72 price target for the company in a research note on Monday, January 15th. Berenberg Bank started coverage on Caterpillar in a research note on Thursday, January 18th. They issued a “buy” rating and a $200.00 price target for the company. Wells Fargo upped their price target on Caterpillar from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Credit Suisse Group boosted their price objective on Caterpillar from $155.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Citigroup reiterated a “neutral” rating and issued a $185.00 price objective (up from $160.00) on shares of Caterpillar in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $171.29.
In other Caterpillar news, insider Thomas A. Pellette sold 54,481 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $150.17, for a total transaction of $8,181,411.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.36% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Caterpillar by 6.5% during the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock worth $5,919,590,000 after purchasing an additional 2,297,750 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Caterpillar by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 6,212,261 shares of the industrial products company’s stock worth $976,845,000 after purchasing an additional 323,920 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Caterpillar by 126.5% during the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock worth $937,817,000 after purchasing an additional 3,324,051 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Caterpillar by 17.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 4,035,424 shares of the industrial products company’s stock worth $635,902,000 after purchasing an additional 607,875 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Caterpillar by 1.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 2,380,679 shares of the industrial products company’s stock worth $350,865,000 after purchasing an additional 34,141 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.
Shares of CAT stock opened at $154.86 on Thursday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.36 and a quick ratio of 0.96. The stock has a market capitalization of $91.25 billion, a PE ratio of 22.51, a P/E/G ratio of 1.08 and a beta of 1.31. Caterpillar has a one year low of $97.74 and a one year high of $173.24.
The company also recently declared a quarterly dividend, which will be paid on Saturday, May 19th. Shareholders of record on Monday, April 23rd will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, April 20th. Caterpillar’s dividend payout ratio (DPR) is currently 45.35%.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
Get a free copy of the Zacks research report on Caterpillar (CAT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.