Brokerages Anticipate Caterpillar Inc. (NYSE:CAT) to Announce $2.66 Earnings Per Share

Equities research analysts forecast that Caterpillar Inc. (NYSE:CATGet Rating) will announce $2.66 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Caterpillar’s earnings, with estimates ranging from $2.46 to $2.77. Caterpillar reported earnings of $2.87 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.3%. The company is expected to report its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Caterpillar will report full-year earnings of $12.32 per share for the current year, with EPS estimates ranging from $10.80 to $13.40. For the next year, analysts anticipate that the firm will report earnings of $14.62 per share, with EPS estimates ranging from $11.85 to $16.78. Zacks’ EPS averages are an average based on a survey of analysts that follow Caterpillar.

Caterpillar (NYSE:CATGet Rating) last posted its quarterly earnings results on Friday, January 28th. The industrial products company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.46. Caterpillar had a return on equity of 35.57% and a net margin of 12.73%. The firm had revenue of $13.80 billion for the quarter, compared to analyst estimates of $13.22 billion. During the same period in the previous year, the firm earned $2.12 earnings per share. Caterpillar’s quarterly revenue was up 22.8% on a year-over-year basis.

Several analysts recently weighed in on CAT shares. Jefferies Financial Group upgraded Caterpillar from a “hold” rating to a “buy” rating and increased their target price for the company from $215.00 to $260.00 in a research note on Tuesday, March 8th. Citigroup raised their price target on Caterpillar from $225.00 to $230.00 in a report on Thursday, January 13th. Wells Fargo & Company initiated coverage on Caterpillar in a report on Friday, March 11th. They set an “equal weight” rating and a $231.00 price target for the company. StockNews.com initiated coverage on Caterpillar in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Tigress Financial increased their price objective on Caterpillar from $270.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, February 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Buy” and an average target price of $241.35.

In other news, Director David Maclennan purchased 480 shares of the firm’s stock in a transaction dated Monday, February 7th. The shares were purchased at an average price of $199.50 per share, with a total value of $95,760.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Suzette M. Long sold 40,356 shares of the company’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $220.00, for a total transaction of $8,878,320.00. The disclosure for this sale can be found here. Insiders sold a total of 49,850 shares of company stock worth $11,087,916 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crewe Advisors LLC boosted its holdings in Caterpillar by 322.6% in the fourth quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. SkyView Investment Advisors LLC bought a new stake in Caterpillar in the 4th quarter valued at $31,000. Systematic Alpha Investments LLC bought a new stake in Caterpillar in the 3rd quarter valued at $32,000. Annapolis Financial Services LLC increased its holdings in Caterpillar by 67.9% in the 3rd quarter. Annapolis Financial Services LLC now owns 183 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. Finally, Sierra Capital LLC bought a new stake in shares of Caterpillar in the 4th quarter worth about $38,000. 67.11% of the stock is owned by institutional investors and hedge funds.

Shares of CAT traded down $10.68 during trading hours on Thursday, hitting $203.28. 59,482 shares of the company were exchanged, compared to its average volume of 3,854,840. The company has a market cap of $108.94 billion, a PE ratio of 17.11, a PEG ratio of 1.57 and a beta of 0.96. The firm’s 50 day moving average is $212.88 and its 200-day moving average is $208.18. Caterpillar has a 52 week low of $179.67 and a 52 week high of $246.69. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.99 and a current ratio of 1.46.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Monday, April 25th will be paid a $1.11 dividend. The ex-dividend date is Friday, April 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.18%. Caterpillar’s payout ratio is presently 37.50%.

About Caterpillar (Get Rating)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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