Analysts expect Caterpillar Inc. (NYSE:CAT) to post earnings of $2.75 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Caterpillar’s earnings. The lowest EPS estimate is $2.39 and the highest is $2.96. Caterpillar reported earnings of $1.95 per share during the same quarter last year, which indicates a positive year over year growth rate of 41%. The business is scheduled to announce its next quarterly earnings report on Tuesday, October 23rd.
According to Zacks, analysts expect that Caterpillar will report full year earnings of $11.48 per share for the current year, with EPS estimates ranging from $10.55 to $11.80. For the next financial year, analysts forecast that the firm will report earnings of $12.75 per share, with EPS estimates ranging from $11.62 to $13.85. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Caterpillar.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Monday, July 30th. The industrial products company reported $2.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.24. The firm had revenue of $14.01 billion during the quarter, compared to analysts’ expectations of $14.09 billion. Caterpillar had a return on equity of 40.60% and a net margin of 6.12%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS.
A number of analysts have commented on CAT shares. Royal Bank of Canada lifted their price target on Caterpillar to $166.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 31st. Zacks Investment Research lowered shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Buckingham Research began coverage on shares of Caterpillar in a research note on Wednesday, April 11th. They issued a “buy” rating and a $170.00 price target for the company. BMO Capital Markets cut their target price on shares of Caterpillar from $195.00 to $185.00 and set an “outperform” rating for the company in a research note on Tuesday, July 31st. They noted that the move was a valuation call. Finally, Stifel Nicolaus reissued a “hold” rating and set a $174.00 target price (down from $176.00) on shares of Caterpillar in a research note on Monday, May 14th. Thirteen analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $172.13.
Shares of Caterpillar traded up $0.50, reaching $138.51, during trading on Friday, MarketBeat reports. The company’s stock had a trading volume of 3,592,828 shares, compared to its average volume of 5,038,033. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.37 and a quick ratio of 0.96. The stock has a market capitalization of $82.52 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 0.90 and a beta of 1.38. Caterpillar has a 1-year low of $112.69 and a 1-year high of $173.24.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Friday, July 20th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.48%. This is an increase from Caterpillar’s previous quarterly dividend of $0.78. The ex-dividend date is Thursday, July 19th. Caterpillar’s payout ratio is presently 50.00%.
In other Caterpillar news, insider Thomas A. Pellette sold 54,481 shares of the business’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $150.17, for a total value of $8,181,411.77. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David L. Calhoun acquired 5,000 shares of the business’s stock in a transaction on Monday, May 14th. The stock was purchased at an average price of $155.37 per share, for a total transaction of $776,850.00. Following the acquisition, the director now directly owns 19,579 shares in the company, valued at $3,041,989.23. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. HC Financial Advisors Inc. acquired a new position in Caterpillar in the 4th quarter valued at approximately $2,269,000. Ashfield Capital Partners LLC lifted its position in shares of Caterpillar by 1.4% in the first quarter. Ashfield Capital Partners LLC now owns 62,222 shares of the industrial products company’s stock worth $9,170,000 after purchasing an additional 848 shares in the last quarter. FDx Advisors Inc. lifted its position in shares of Caterpillar by 81.4% in the first quarter. FDx Advisors Inc. now owns 11,562 shares of the industrial products company’s stock worth $1,704,000 after purchasing an additional 5,189 shares in the last quarter. Lee Danner & Bass Inc. lifted its position in shares of Caterpillar by 4.1% in the first quarter. Lee Danner & Bass Inc. now owns 59,358 shares of the industrial products company’s stock worth $8,748,000 after purchasing an additional 2,311 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Caterpillar by 2.6% in the first quarter. Daiwa Securities Group Inc. now owns 139,647 shares of the industrial products company’s stock worth $20,580,000 after purchasing an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 66.99% of the company’s stock.
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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