Research Analysts Offer Predictions for Caterpillar, Inc.’s FY2018 Earnings (CAT)
Caterpillar, Inc. (NYSE:CAT) – Equities researchers at CLSA issued their FY2018 earnings per share estimates for shares of Caterpillar in a research note issued on Tuesday. CLSA analyst K. Kubacki forecasts that the firm will post earnings of $4.25 per share for the year. CLSA has a “Outperform” rating on the stock.
Several other brokerages have also recently issued reports on CAT. Deutsche Bank AG restated a “buy” rating and issued a $102.00 target price on shares of Caterpillar in a report on Friday, December 2nd. Vetr downgraded shares of Caterpillar from a “sell” rating to a “strong sell” rating and set a $84.86 price target for the company. in a research report on Thursday, November 24th. J P Morgan Chase & Co upped their price target on shares of Caterpillar from $78.00 to $89.00 and gave the company a “neutral” rating in a research report on Monday, December 5th. Jefferies Group reiterated a “hold” rating and issued a $80.00 price target on shares of Caterpillar in a research report on Wednesday, December 21st. Finally, Zacks Investment Research downgraded shares of Caterpillar from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 22nd. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $80.78.
Caterpillar (NYSE:CAT) traded up 0.52% during mid-day trading on Wednesday, reaching $94.48. 2,606,640 shares of the company traded hands. The firm has a market capitalization of $55.28 billion, a price-to-earnings ratio of 91.91 and a beta of 1.36. The stock’s 50 day moving average price is $94.36 and its 200 day moving average price is $86.25. Caterpillar has a 52 week low of $56.36 and a 52 week high of $97.40.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.09. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.91 billion. Caterpillar had a net margin of 2.54% and a return on equity of 12.79%. The firm’s revenue was down 16.4% on a year-over-year basis. During the same quarter last year, the business earned $0.75 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 18th. Stockholders of record on Friday, January 20th will be issued a dividend of $0.77 per share. The ex-dividend date is Wednesday, January 18th. This represents a $3.08 annualized dividend and a dividend yield of 3.26%. Caterpillar’s payout ratio is currently 179.07%.
In related news, Director Daniel M. Dickinson sold 950 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $93.52, for a total value of $88,844.00. Following the transaction, the director now owns 17,476 shares in the company, valued at $1,634,355.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pittenger & Anderson Inc. raised its position in Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock valued at $100,000 after buying an additional 25 shares during the last quarter. Patten Group Inc. raised its position in Caterpillar by 0.4% in the third quarter. Patten Group Inc. now owns 1,148 shares of the company’s stock valued at $100,000 after buying an additional 5 shares during the last quarter. Quadrant Capital Group LLC raised its position in Caterpillar by 5.3% in the third quarter. Quadrant Capital Group LLC now owns 1,282 shares of the company’s stock valued at $106,000 after buying an additional 65 shares during the last quarter. Enterprise Financial Services Corp raised its position in Caterpillar by 7.0% in the third quarter. Enterprise Financial Services Corp now owns 1,204 shares of the company’s stock valued at $107,000 after buying an additional 79 shares during the last quarter. Finally, Integrated Wealth Management raised its position in Caterpillar by 34.6% in the third quarter. Integrated Wealth Management now owns 1,246 shares of the company’s stock valued at $111,000 after buying an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 69.04% of the company’s stock.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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