Brokerages Anticipate Caterpillar Inc. (CAT) to Post $2.98 EPS

Brokerages expect that Caterpillar Inc. (NYSE:CAT) will post earnings of $2.98 per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Caterpillar’s earnings, with the highest EPS estimate coming in at $3.19 and the lowest estimate coming in at $2.85. Caterpillar reported earnings of $2.16 per share during the same quarter last year, which indicates a positive year over year growth rate of 38%. The company is scheduled to issue its next quarterly earnings report on Thursday, January 24th.

According to Zacks, analysts expect that Caterpillar will report full-year earnings of $11.64 per share for the current financial year, with EPS estimates ranging from $11.50 to $11.75. For the next year, analysts expect that the firm will report earnings of $12.76 per share, with EPS estimates ranging from $11.50 to $13.75. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Caterpillar.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.03. The business had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $13.28 billion. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the firm posted $1.95 earnings per share.

A number of equities research analysts have weighed in on the stock. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 price target for the company in a research report on Thursday, September 20th. Citigroup upgraded shares of Caterpillar to an “outperform” rating in a research report on Friday, September 21st. OTR Global cut shares of Caterpillar to a “positive” rating in a research report on Friday, September 21st. Morgan Stanley set a $169.00 price target on shares of Caterpillar and gave the company a “buy” rating in a research report on Wednesday, October 24th. Finally, ValuEngine cut shares of Caterpillar from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $158.55.

In other Caterpillar news, insider Lange Bob De acquired 1,080 shares of the stock in a transaction dated Friday, October 26th. The stock was acquired at an average price of $115.58 per share, with a total value of $124,826.40. Following the completion of the purchase, the insider now owns 11,310 shares in the company, valued at approximately $1,307,209.80. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Denise C. Johnson sold 35,051 shares of Caterpillar stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the completion of the transaction, the insider now owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC raised its holdings in Caterpillar by 16.9% during the third quarter. Global Retirement Partners LLC now owns 2,493 shares of the industrial products company’s stock worth $380,000 after purchasing an additional 360 shares in the last quarter. Private Capital Group LLC raised its holdings in Caterpillar by 10.7% during the second quarter. Private Capital Group LLC now owns 3,759 shares of the industrial products company’s stock worth $509,000 after purchasing an additional 362 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in Caterpillar by 1.1% during the second quarter. Segall Bryant & Hamill LLC now owns 34,837 shares of the industrial products company’s stock worth $4,726,000 after purchasing an additional 372 shares in the last quarter. Financial Advocates Investment Management raised its holdings in Caterpillar by 6.2% during the second quarter. Financial Advocates Investment Management now owns 6,379 shares of the industrial products company’s stock worth $869,000 after purchasing an additional 374 shares in the last quarter. Finally, First Interstate Bank raised its holdings in Caterpillar by 21.4% during the third quarter. First Interstate Bank now owns 2,137 shares of the industrial products company’s stock worth $326,000 after purchasing an additional 376 shares in the last quarter. Institutional investors own 66.53% of the company’s stock.

Caterpillar stock opened at $135.67 on Thursday. Caterpillar has a 12-month low of $112.06 and a 12-month high of $173.24. The stock has a market cap of $80.06 billion, a P/E ratio of 19.72, a PEG ratio of 0.50 and a beta of 1.58. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 1.60.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Friday, October 19th. Caterpillar’s payout ratio is 50.00%.

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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