Analysts expect that Caterpillar Inc. (NYSE:CAT) will post $13.13 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Caterpillar’s earnings, with the lowest sales estimate coming in at $12.46 billion and the highest estimate coming in at $13.65 billion. Caterpillar reported sales of $11.41 billion in the same quarter last year, which would suggest a positive year over year growth rate of 15.1%. The company is scheduled to issue its next quarterly earnings results on Tuesday, October 23rd.
According to Zacks, analysts expect that Caterpillar will report full-year sales of $54.38 billion for the current year, with estimates ranging from $52.52 billion to $55.61 billion. For the next year, analysts anticipate that the firm will report sales of $59.75 billion per share, with estimates ranging from $56.50 billion to $61.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Caterpillar.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.73 by $0.24. The firm had revenue of $14.01 billion during the quarter, compared to the consensus estimate of $14.09 billion. Caterpillar had a return on equity of 40.60% and a net margin of 6.12%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.49 earnings per share.
CAT has been the subject of a number of research analyst reports. Bank of America reaffirmed a “hold” rating and issued a $163.00 price target on shares of Caterpillar in a report on Friday, June 15th. Wells Fargo & Co set a $180.00 price objective on Caterpillar and gave the company a “buy” rating in a research note on Monday, April 16th. TheStreet upgraded Caterpillar from a “c+” rating to an “a-” rating in a research note on Tuesday, April 24th. Zacks Investment Research cut Caterpillar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Caterpillar in a research note on Wednesday, April 25th. Thirteen research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Caterpillar currently has an average rating of “Buy” and a consensus price target of $171.85.
In related news, Director David L. Calhoun purchased 5,000 shares of the business’s stock in a transaction dated Monday, May 14th. The stock was acquired at an average price of $155.37 per share, for a total transaction of $776,850.00. Following the completion of the purchase, the director now directly owns 19,579 shares of the company’s stock, valued at $3,041,989.23. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.36% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in CAT. Lee Financial Co grew its holdings in Caterpillar by 365.1% during the first quarter. Lee Financial Co now owns 814 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 639 shares during the period. Ballew Advisors Inc acquired a new position in Caterpillar during the first quarter worth $121,000. Stelac Advisory Services LLC acquired a new position in Caterpillar during the first quarter worth $129,000. Front Row Advisors LLC grew its holdings in Caterpillar by 125.0% during the first quarter. Front Row Advisors LLC now owns 900 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 500 shares during the period. Finally, Landaas & Co. WI ADV acquired a new position in Caterpillar during the second quarter worth $130,000. Institutional investors and hedge funds own 67.17% of the company’s stock.
Caterpillar traded down $2.60, reaching $135.92, on Tuesday, according to Marketbeat.com. The company’s stock had a trading volume of 6,267,106 shares, compared to its average volume of 4,853,549. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $82.33 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38. Caterpillar has a fifty-two week low of $112.69 and a fifty-two week high of $173.24.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Friday, July 20th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, July 19th. This is a boost from Caterpillar’s previous quarterly dividend of $0.78. Caterpillar’s dividend payout ratio is 50.00%.
Caterpillar Company Profile
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.
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