Brokerages Expect Caterpillar Inc. (NYSE:CAT) Will Announce Quarterly Sales of $12.57 Billion

Analysts expect Caterpillar Inc. (NYSE:CAT) to report sales of $12.57 billion for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Caterpillar’s earnings. The highest sales estimate is $13.16 billion and the lowest is $11.76 billion. Caterpillar posted sales of $9.88 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 27.2%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, October 28th.

According to Zacks, analysts expect that Caterpillar will report full-year sales of $50.34 billion for the current fiscal year, with estimates ranging from $48.74 billion to $51.68 billion. For the next year, analysts anticipate that the firm will post sales of $56.32 billion, with estimates ranging from $53.59 billion to $59.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Caterpillar.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, July 29th. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.22. Caterpillar had a net margin of 9.57% and a return on equity of 30.80%. The company had revenue of $12.89 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the business posted $1.03 EPS. Caterpillar’s quarterly revenue was up 28.9% compared to the same quarter last year.

Several research analysts have commented on the stock. Evercore ISI cut their price target on shares of Caterpillar from $291.00 to $257.00 and set an “outperform” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Caterpillar from $258.00 to $241.00 and set a “buy” rating for the company in a report on Monday, August 2nd. Citigroup raised their price objective on shares of Caterpillar from $215.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley lowered their price objective on shares of Caterpillar from $172.00 to $165.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, Cowen initiated coverage on shares of Caterpillar in a research report on Thursday. They set an “outperform” rating and a $241.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $231.14.

NYSE:CAT traded up $5.31 during trading hours on Monday, hitting $194.25. The stock had a trading volume of 212,015 shares, compared to its average volume of 3,429,619. The company has a 50 day simple moving average of $204.12 and a two-hundred day simple moving average of $218.25. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.56 and a quick ratio of 1.10. Caterpillar has a one year low of $149.63 and a one year high of $246.69. The firm has a market capitalization of $106.35 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 1.69 and a beta of 0.90.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 19th. Investors of record on Monday, October 25th will be paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, October 22nd. Caterpillar’s payout ratio is currently 67.68%.

In other Caterpillar news, Director David Maclennan acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 4th. The shares were acquired at an average price of $206.20 per share, with a total value of $103,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elmwood Wealth Management Inc. purchased a new stake in Caterpillar during the first quarter valued at approximately $26,000. CKW Financial Group purchased a new stake in Caterpillar during the second quarter valued at approximately $32,000. Psagot Investment House Ltd. increased its holdings in Caterpillar by 105.5% during the first quarter. Psagot Investment House Ltd. now owns 150 shares of the industrial products company’s stock valued at $35,000 after buying an additional 77 shares during the last quarter. Wagner Wealth Management LLC purchased a new stake in Caterpillar during the first quarter valued at approximately $35,000. Finally, AlphaMark Advisors LLC increased its holdings in Caterpillar by 87.0% during the second quarter. AlphaMark Advisors LLC now owns 187 shares of the industrial products company’s stock valued at $41,000 after buying an additional 87 shares during the last quarter. 67.82% of the stock is owned by hedge funds and other institutional investors.

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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