Caterpillar Inc. (NYSE:CAT) Expected to Announce Quarterly Sales of $14.56 Billion

Equities research analysts expect Caterpillar Inc. (NYSE:CATGet Rating) to announce $14.56 billion in sales for the current quarter, Zacks reports. Eight analysts have made estimates for Caterpillar’s earnings, with estimates ranging from $14.07 billion to $15.30 billion. Caterpillar reported sales of $12.89 billion during the same quarter last year, which would suggest a positive year over year growth rate of 13%. The company is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Caterpillar will report full-year sales of $57.72 billion for the current financial year, with estimates ranging from $56.24 billion to $59.63 billion. For the next year, analysts expect that the company will post sales of $63.53 billion, with estimates ranging from $59.09 billion to $66.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Caterpillar.

Caterpillar (NYSE:CATGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.28. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.49 billion. Caterpillar had a return on equity of 35.57% and a net margin of 12.73%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.87 EPS.

Several analysts have weighed in on the company. StockNews.com assumed coverage on Caterpillar in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Jefferies Financial Group raised Caterpillar from a “hold” rating to a “buy” rating and raised their price target for the company from $215.00 to $260.00 in a report on Tuesday, March 8th. Wells Fargo & Company assumed coverage on Caterpillar in a report on Friday, March 11th. They issued an “equal weight” rating and a $231.00 price target on the stock. UBS Group raised their price target on Caterpillar from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 12th. Finally, Barclays raised their price target on Caterpillar from $220.00 to $225.00 and gave the company an “equal weight” rating in a report on Thursday, January 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $240.76.

Shares of CAT opened at $210.54 on Friday. The stock’s 50-day simple moving average is $213.66 and its 200 day simple moving average is $208.46. Caterpillar has a 52-week low of $179.67 and a 52-week high of $246.69. The stock has a market capitalization of $112.83 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.57 and a beta of 0.96. 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 business also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Monday, April 25th will be given a dividend of $1.11 per share. The ex-dividend date is Friday, April 22nd. This represents a $4.44 annualized dividend and a yield of 2.11%. Caterpillar’s payout ratio is 37.50%.

In other Caterpillar news, Director David Maclennan acquired 480 shares of the company’s stock in a transaction on Monday, February 7th. The stock was acquired at an average price of $199.50 per share, for a total transaction of $95,760.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Suzette M. Long sold 3,816 shares of the stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $235.00, for a total value of $896,760.00. Following the completion of the sale, the general counsel now owns 10,549 shares of the company’s stock, valued at approximately $2,479,015. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,850 shares of company stock worth $11,087,916. 0.18% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Waypoint Capital Advisors LLC lifted its stake in shares of Caterpillar by 3.0% in the 1st quarter. Waypoint Capital Advisors LLC now owns 1,520 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 44 shares during the period. Cornell Pochily Investment Advisors Inc. lifted its stake in shares of Caterpillar by 0.7% in the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 6,784 shares of the industrial products company’s stock valued at $1,403,000 after purchasing an additional 46 shares during the period. Ballast Inc. lifted its stake in shares of Caterpillar by 1.7% in the 1st quarter. Ballast Inc. now owns 2,880 shares of the industrial products company’s stock valued at $641,000 after purchasing an additional 47 shares during the period. SRS Capital Advisors Inc. lifted its stake in shares of Caterpillar by 8.0% in the 3rd quarter. SRS Capital Advisors Inc. now owns 663 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 49 shares during the period. Finally, Malaga Cove Capital LLC lifted its stake in shares of Caterpillar by 0.3% in the 3rd quarter. Malaga Cove Capital LLC now owns 16,769 shares of the industrial products company’s stock valued at $3,219,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 67.11% of the company’s stock.

Caterpillar Company Profile (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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