Equities analysts predict that Caterpillar Inc. (NYSE:CAT) will report sales of $11.58 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Caterpillar’s earnings. The lowest sales estimate is $10.86 billion and the highest is $12.35 billion. Caterpillar reported sales of $9.82 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.9%. The company is scheduled to report its next earnings report 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 fiscal year, analysts forecast that the company will report sales of $54.39 billion per share, with estimates ranging from $53.00 billion to $55.85 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Caterpillar.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.39. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.01 billion. During the same period last year, the company earned $0.83 EPS. The firm’s quarterly revenue was up 34.7% on a year-over-year basis.
CAT has been the topic of a number of research analyst reports. Argus raised their price target on Caterpillar from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Bank of America set a $152.00 price target on Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, October 25th. UBS Group set a $155.00 price target on Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Tigress Financial reissued a “buy” rating on shares of Caterpillar in a research note on Monday, October 30th. Finally, ValuEngine raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $167.60.
In other Caterpillar news, CFO Bradley M. Halverson sold 17,210 shares of Caterpillar stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the sale, the chief financial officer now directly owns 7,814 shares in the company, valued at approximately $1,073,096.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jananne A. Copeland sold 3,247 shares of Caterpillar 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 sale, the insider now owns 8,908 shares in the company, valued at $1,219,950.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,784 shares of company stock worth $18,776,796. Company insiders own 0.14% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Gradient Investments LLC acquired a new position in Caterpillar during the 4th quarter valued at approximately $113,000. Harvest Fund Management Co. Ltd acquired a new position in Caterpillar during the 4th quarter valued at approximately $131,000. Clearbridge LLC acquired a new position in Caterpillar during the 4th quarter valued at approximately $140,000. Aevitas Wealth Management Inc. acquired a new position in Caterpillar during the 4th quarter valued at approximately $143,000. Finally, Sandy Spring Bank boosted its position in Caterpillar by 61.9% during the 4th quarter. Sandy Spring Bank now owns 981 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 375 shares during the period. Institutional investors own 68.70% of the company’s stock.
Shares of Caterpillar (NYSE CAT) traded down $3.69 during trading hours on Friday, reaching $156.29. The company’s stock had a trading volume of 5,991,500 shares, compared to its average volume of 6,837,658. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.73. Caterpillar has a 12-month low of $90.34 and a 12-month high of $173.24. The firm has a market cap of $92,980.00, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.67 and a beta of 1.22.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, January 19th. This represents a $3.12 annualized dividend and a dividend yield of 2.00%. Caterpillar’s payout ratio is currently 59.66%.
Caterpillar Company Profile
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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