Brokerages Anticipate Caterpillar Inc. (CAT) Will Announce Earnings of $2.62 Per Share

Equities research analysts forecast that Caterpillar Inc. (NYSE:CAT) will report $2.62 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Caterpillar’s earnings. The highest EPS estimate is $2.76 and the lowest is $2.41. Caterpillar posted earnings of $1.49 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 75.8%. The firm is scheduled to report its next quarterly earnings results on Tuesday, July 24th.

On average, analysts expect that Caterpillar will report full-year earnings of $10.58 per share for the current fiscal year, with EPS estimates ranging from $9.15 to $11.00. For the next year, analysts forecast that the firm will report earnings of $11.91 per share, with EPS estimates ranging from $10.87 to $12.57. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Caterpillar.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.71. Caterpillar had a net margin of 4.59% and a return on equity of 34.38%. The company had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.99 billion. During the same period in the prior year, the business posted $1.28 EPS. The business’s revenue for the quarter was up 30.9% compared to the same quarter last year.

Several research analysts have weighed in on the stock. Berenberg Bank assumed coverage on shares of Caterpillar in a research note on Thursday, January 18th. They issued a “buy” rating and a $200.00 price objective on the stock. Wells Fargo upped their price objective on shares of Caterpillar from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Credit Suisse Group upped their price objective on shares of Caterpillar from $155.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Citigroup reiterated a “neutral” rating and set a $185.00 target price (up from $160.00) on shares of Caterpillar in a research note on Friday, January 19th. Finally, Vetr upgraded shares of Caterpillar from a “sell” rating to a “hold” rating and set a $164.34 target price for the company in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $172.55.

Shares of CAT stock traded down $0.11 during trading hours on Thursday, reaching $153.69. 2,869,699 shares of the stock traded hands, compared to its average volume of 5,930,214. Caterpillar has a 1-year low of $152.50 and a 1-year high of $153.85. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.36 and a quick ratio of 0.96. The firm has a market capitalization of $91.24 billion, a P/E ratio of 22.34, a P/E/G ratio of 1.07 and a beta of 1.31.

The business also recently declared a quarterly dividend, which will be paid on Saturday, May 19th. Investors of record on Monday, April 23rd will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, April 20th. Caterpillar’s payout ratio is currently 45.35%.

In other news, CFO Joseph E. Creed sold 4,532 shares of the stock in a transaction on Friday, May 11th. The stock was sold at an average price of $155.67, for a total transaction of $705,496.44. Following the completion of the transaction, the chief financial officer now owns 2,554 shares in the company, valued at approximately $397,581.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas A. Pellette sold 54,481 shares of the stock in a transaction on Monday, May 7th. The stock was sold at an average price of $150.17, for a total value of $8,181,411.77. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank raised its holdings in shares of Caterpillar by 0.4% during the 4th quarter. Swiss National Bank now owns 2,179,616 shares of the industrial products company’s stock valued at $343,464,000 after buying an additional 7,900 shares in the last quarter. Schroder Investment Management Group increased its stake in Caterpillar by 7.6% in the 4th quarter. Schroder Investment Management Group now owns 770,480 shares of the industrial products company’s stock worth $121,411,000 after purchasing an additional 54,661 shares during the period. KHP Capital LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $867,000. Fiduciary Financial Services of The Southwest Inc. TX bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $507,000. Finally, Hyman Charles D grew its position in shares of Caterpillar by 0.4% in the 4th quarter. Hyman Charles D now owns 145,523 shares of the industrial products company’s stock worth $22,932,000 after buying an additional 590 shares during the last quarter. Institutional investors and hedge funds own 69.57% of the company’s stock.

About Caterpillar

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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Earnings History and Estimates for Caterpillar (NYSE:CAT)

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