Caterpillar – Caterpillar Inc. (NYSE:CAT) Expected to Post Quarterly Sales of $10.83 Billion
Equities research analysts forecast that Caterpillar Inc. (NYSE:CAT) will post $10.83 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Caterpillar’s earnings. The lowest sales estimate is $10.22 billion and the highest is $11.18 billion. Caterpillar reported sales of $10.64 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.8%. The business is expected to report its next earnings report on Tuesday, April 27th.
According to Zacks, analysts expect that Caterpillar will report full year sales of $46.02 billion for the current financial year, with estimates ranging from $44.98 billion to $47.89 billion. For the next year, analysts anticipate that the firm will report sales of $50.92 billion, with estimates ranging from $49.30 billion to $54.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Caterpillar.
Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 28th. The industrial products company reported $2.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.63. The business had revenue of $11.24 billion during the quarter, compared to the consensus estimate of $11.24 billion. Caterpillar had a return on equity of 25.24% and a net margin of 7.60%. The business’s quarterly revenue was down 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.63 EPS.
CAT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Caterpillar from $214.00 to $233.00 and gave the stock a “buy” rating in a research note on Monday, February 1st. OTR Global raised Caterpillar to a “positive” rating in a research note on Monday, December 14th. Citigroup cut Caterpillar from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 20th. Morgan Stanley boosted their price target on Caterpillar from $154.00 to $158.00 and gave the stock an “underweight” rating in a research report on Monday, February 1st. Finally, JPMorgan Chase & Co. boosted their price target on Caterpillar from $205.00 to $237.00 and gave the stock an “overweight” rating in a research report on Thursday, February 25th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $175.40.
Shares of CAT stock opened at $219.76 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.08. The company has a market cap of $119.84 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 2.14 and a beta of 0.97. The stock has a 50 day simple moving average of $197.72 and a 200-day simple moving average of $171.78. Caterpillar has a 1-year low of $87.50 and a 1-year high of $226.67.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 19th. Stockholders of record on Wednesday, January 20th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Tuesday, January 19th. Caterpillar’s dividend payout ratio is presently 37.25%.
In related news, CAO Gary Michael Marvel sold 4,018 shares of the stock in a transaction dated Tuesday, February 2nd. The stock was sold at an average price of $190.76, for a total transaction of $766,473.68. In the last three months, insiders have sold 10,970 shares of company stock worth $1,985,442. 0.31% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CAT. Robeco Institutional Asset Management B.V. lifted its stake in Caterpillar by 4.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 175,587 shares of the industrial products company’s stock worth $26,186,000 after acquiring an additional 7,336 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Caterpillar by 14.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 169,294 shares of the industrial products company’s stock valued at $24,870,000 after purchasing an additional 21,606 shares in the last quarter. KAMES CAPITAL plc raised its position in Caterpillar by 7.3% in the 3rd quarter. KAMES CAPITAL plc now owns 10,896 shares of the industrial products company’s stock valued at $1,624,000 after purchasing an additional 746 shares in the last quarter. Huntington National Bank raised its position in Caterpillar by 5.4% in the 3rd quarter. Huntington National Bank now owns 89,508 shares of the industrial products company’s stock valued at $13,350,000 after purchasing an additional 4,625 shares in the last quarter. Finally, Argus Investors Counsel Inc. raised its position in Caterpillar by 3.5% in the 3rd quarter. Argus Investors Counsel Inc. now owns 29,380 shares of the industrial products company’s stock valued at $4,382,000 after purchasing an additional 1,000 shares in the last quarter. 67.48% of the stock is currently owned by hedge funds and other 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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