Zacks: Brokerage Firms Predict Caterpillar Inc. (NYSE: CAT) to Post $ 2.23 EPS
Brokerages expect Caterpillar Inc. (NYSE: CAT) to report earnings per share of $ 2.23 for the current fiscal quarter, according to Zacks. Six analysts have released estimates for Caterpillar earnings, with the highest EPS estimate at $ 2.44 and the lowest estimate at $ 1.93. Caterpillar reported earnings per share of $ 2.12 for the same quarter last year, which would indicate a positive growth rate of 5.2% year-over-year. The company is expected to report its next quarterly results on Friday, February 4.
On average, analysts predict that Caterpillar will report annual earnings of $ 10.35 per share for the current fiscal year, with EPS estimates ranging from $ 10.10 to $ 10.57. For the next fiscal year, analysts predict the company will post earnings of $ 12.26 per share, with EPS estimates ranging from $ 11.25 to $ 13.46. Zacks’ earnings per share calculations are an average based on a survey of seller-side research companies that provide coverage for Caterpillar.
Caterpillar (NYSE: CAT) last released its results on Thursday, October 28. The industrials company reported earnings per share of $ 2.66 for the quarter, beating the Thomson Reuters consensus estimate of $ 2.26 per $ 0.40. The company posted revenue of $ 12.40 billion for the quarter, compared to analysts’ estimate of $ 12.46 billion. Caterpillar had a net margin of 10.64% and a return on equity of 34.41%. The company’s quarterly revenue grew 25.5% year-over-year. In the same quarter of the previous year, the company posted EPS of $ 1.34.
Several equity analysts have recently weighed on CAT stocks. Morgan Stanley raised its price target for Caterpillar shares from $ 165.00 to $ 166.00 and rated the company “underweight” in a report released on Friday, October 29. The UBS Group upgraded Caterpillar shares from a “neutral” to a “buy” rating and raised its price target for the share from $ 232.00 to $ 235.00 in a research note on Friday October 29. Cowen began covering shares of Caterpillar in a research note on Thursday, October 14. They set an “outperformance” rating and a price target of $ 241.00 for the stock. Evercore ISI lowered its price target on Caterpillar shares from $ 291.00 to $ 257.00 and set an “outperform” rating on the stock in a research note on Thursday, October 14. Finally, Citigroup raised its price target for Caterpillar shares from $ 215.00 to $ 235.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 12. One analyst assigned a sell rating to the stock, six assigned a conservation rating and twelve assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $ 234.05.
In other Caterpillar news, insider Joseph E. Creed sold 5,038 shares of the company in a trade dated Monday, November 1. The shares were sold at an average price of $ 204.09, for a total trade of $ 1,028,205.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible through this hyperlink. 0.18% of the shares are held by insiders.
Several large investors have recently changed their holdings in the company. Vanguard Group Inc. increased its stake in Caterpillar shares by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 47,434,967 shares of the industrial products company valued at $ 10,323,272,000 after acquiring an additional 1,165,504 shares during the period. BlackRock Inc. increased its stake in Caterpillar shares by 2.3% in the 3rd quarter. BlackRock Inc. now owns 37,727,559 shares of the industrial products company valued at $ 7,242,558,000 after acquiring an additional 838,706 shares during the period. Capital International Investors increased its stake in Caterpillar shares by 3.3% in the 2nd quarter. Capital International Investors now owns 8,730,705 shares of the industrial products company valued at $ 1,900,063,000 after acquiring an additional 276,648 shares during the period. Geode Capital Management LLC raised its stake in Caterpillar shares by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,567,001 shares of the industrial products company valued at $ 1,639,900,000 after acquiring an additional 49,786 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Caterpillar shares by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 6,836,104 shares of the industrial products company valued at $ 1,312,327,000 after purchasing an additional 192,752 shares during the last quarter. 67.66% of the shares are held by institutional investors.
NYSE: CAT shares traded up $ 1.01 in Friday’s noon session, reaching $ 197.80. 3,250,927 shares of the company were traded for an average volume of 3,280,308. The company has a leverage ratio of 1.63, a quick ratio of 1.09 and a current ratio of 1.61. The company has a market cap of $ 107.00 billion, a PE ratio of 21.16, a P / E / G ratio of 1.58 and a beta of 0.92. The company’s fifty-day moving average price is $ 200.30 and its two hundred-day moving average price is $ 210.03. Caterpillar has a twelve-month low of $ 175.11 and a twelve-month high of $ 246.69.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 19. Investors registered on Monday, October 25, received a dividend of $ 1.11 per share. This represents a dividend of $ 4.44 on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday October 22. Caterpillar’s dividend payout ratio is currently 47.49%.
Caterpillar, Inc. is engaged in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates in the following segments: construction industries, resource industries, energy and transportation, financial products and all others.
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