Wall Street brokerages expect that Caterpillar Inc. (NYSE:CAT) will announce sales of $13.13 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Caterpillar’s earnings. The lowest sales estimate is $12.46 billion and the highest is $13.65 billion. Caterpillar posted sales of $11.41 billion during the same quarter last year, which suggests a positive year over year growth rate of 15.1%. The company is scheduled to announce its next quarterly earnings report on Tuesday, October 23rd.
On average, analysts expect that Caterpillar will report full year sales of $54.38 billion for the current financial year, with estimates ranging from $52.52 billion to $55.61 billion. For the next year, analysts forecast that the business will post sales of $59.75 billion per share, with estimates ranging from $56.50 billion to $61.82 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Caterpillar.
Caterpillar (NYSE:CAT) last posted its earnings results on Monday, July 30th. The industrial products company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.73 by $0.24. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. The company had revenue of $14.01 billion during the quarter, compared to the consensus estimate of $14.09 billion. During the same period in the previous year, the firm posted $1.49 earnings per share. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis.
Several equities analysts recently issued reports on the company. Wells Fargo & Co set a $180.00 price target on Caterpillar and gave the company a “buy” rating in a research note on Monday, April 16th. Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Wednesday, April 18th. Citigroup upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Monday, April 23rd. Seaport Global Securities reiterated a “buy” rating and issued a $173.00 target price on shares of Caterpillar in a research note on Wednesday, April 25th. Finally, UBS Group set a $178.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, April 25th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Caterpillar currently has an average rating of “Buy” and an average target price of $171.85.
In related news, Director David L. Calhoun bought 5,000 shares of the company’s stock in a transaction dated Monday, May 14th. The stock was purchased at an average cost of $155.37 per share, with a total value of $776,850.00. Following the transaction, the director now owns 19,579 shares in the company, valued at approximately $3,041,989.23. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CAT. Xact Kapitalforvaltning AB lifted its position in shares of Caterpillar by 2.2% in the second quarter. Xact Kapitalforvaltning AB now owns 62,254 shares of the industrial products company’s stock worth $8,446,000 after buying an additional 1,367 shares during the last quarter. Claraphi Advisory Network LLC lifted its position in shares of Caterpillar by 19.5% in the first quarter. Claraphi Advisory Network LLC now owns 11,296 shares of the industrial products company’s stock worth $1,665,000 after buying an additional 1,843 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Caterpillar in the first quarter worth about $1,198,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Caterpillar in the first quarter worth about $251,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Caterpillar by 26.4% in the second quarter. State of Alaska Department of Revenue now owns 88,328 shares of the industrial products company’s stock worth $11,981,000 after buying an additional 18,442 shares during the last quarter. 67.17% of the stock is owned by institutional investors.
CAT stock traded down $2.60 during trading on Tuesday, hitting $135.92. 6,267,106 shares of the company’s stock were exchanged, compared to its average volume of 4,853,549. The stock has a market cap of $82.33 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.91 and a beta of 1.38. Caterpillar has a 52-week low of $112.69 and a 52-week high of $173.24. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 1.59.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 20th. Shareholders of record on Friday, July 20th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.78. Caterpillar’s dividend payout ratio (DPR) is 50.00%.
Caterpillar Company Profile
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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