Caterpillar Inc. (NYSE:CAT) Expected to Announce Earnings of $2.83 Per Share

Wall Street brokerages forecast that Caterpillar Inc. (NYSE:CAT) will announce $2.83 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Caterpillar’s earnings, with the highest EPS estimate coming in at $3.00 and the lowest estimate coming in at $2.55. Caterpillar reported earnings of $2.86 per share during the same quarter last year, which suggests a negative year over year growth rate of 1%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, October 23rd.

According to Zacks, analysts expect that Caterpillar will report full-year earnings of $11.64 per share for the current fiscal year, with EPS estimates ranging from $11.10 to $12.10. For the next financial year, analysts forecast that the business will post earnings of $11.80 per share, with EPS estimates ranging from $10.15 to $12.98. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Caterpillar.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The company had revenue of $14.43 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period in the previous year, the business posted $2.97 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year.

CAT has been the topic of a number of research analyst reports. UBS Group cut their price objective on shares of Caterpillar from $122.00 to $117.00 and set a “sell” rating on the stock in a report on Tuesday, October 8th. Robert W. Baird cut their target price on shares of Caterpillar from $161.00 to $155.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Goldman Sachs Group cut shares of Caterpillar from a “buy” rating to a “neutral” rating and cut their target price for the company from $156.00 to $130.00 in a report on Wednesday, August 7th. Stephens began coverage on shares of Caterpillar in a report on Wednesday, August 14th. They issued an “underweight” rating and a $100.00 target price on the stock. Finally, ValuEngine raised shares of Caterpillar from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $137.42.

CAT stock traded up $1.46 during midday trading on Tuesday, reaching $133.69. 4,683,842 shares of the company were exchanged, compared to its average volume of 4,260,068. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43. Caterpillar has a 1-year low of $111.75 and a 1-year high of $144.77. The stock’s 50-day simple moving average is $126.61 and its 200 day simple moving average is $128.98. The company has a market cap of $73.54 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 0.94 and a beta of 1.52.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s dividend payout ratio is currently 36.72%.

In other news, General Counsel Suzette M. Long sold 5,019 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $126.34, for a total transaction of $634,100.46. Following the completion of the transaction, the general counsel now owns 12,569 shares of the company’s stock, valued at approximately $1,587,967.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Large investors have recently modified their holdings of the company. Tortoise Investment Management LLC grew its holdings in shares of Caterpillar by 3,600.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 180 shares during the period. Prestige Wealth Management Group LLC purchased a new position in Caterpillar in the 2nd quarter worth approximately $27,000. G&S Capital LLC purchased a new position in Caterpillar in the 3rd quarter worth approximately $38,000. Kavar Capital Partners LLC purchased a new position in Caterpillar in the 2nd quarter worth approximately $46,000. Finally, Garrett Wealth Advisory Group LLC purchased a new position in Caterpillar in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 64.97% of the company’s stock.

Caterpillar Company Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Earnings History and Estimates for Caterpillar (NYSE:CAT)

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