Caterpillar Inc. (NYSE:CAT) Expected to Post Q2 2022 Earnings of $3.00 Per Share

Caterpillar Inc. (NYSE:CATGet Rating) – William Blair lowered their Q2 2022 earnings estimates for shares of Caterpillar in a report issued on Thursday, April 28th. William Blair analyst L. De. Maria now anticipates that the industrial products company will earn $3.00 per share for the quarter, down from their prior forecast of $3.27. William Blair also issued estimates for Caterpillar’s Q3 2022 earnings at $3.51 EPS, Q4 2022 earnings at $3.93 EPS, FY2022 earnings at $13.30 EPS and FY2023 earnings at $15.10 EPS.

Several other brokerages have also recently weighed in on CAT. UBS Group raised their price objective on Caterpillar from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, January 12th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Caterpillar from $250.00 to $240.00 in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $241.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, March 28th. Citigroup boosted their price target on shares of Caterpillar from $225.00 to $230.00 in a report on Thursday, January 13th. Finally, Tigress Financial boosted their price target on shares of Caterpillar from $270.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Buy” and an average target price of $241.44.

Shares of NYSE:CAT opened at $210.54 on Monday. The company has a current ratio of 1.46, a quick ratio of 0.99 and a debt-to-equity ratio of 1.58. The stock’s fifty day simple moving average is $213.66 and its two-hundred day simple moving average is $208.70. Caterpillar has a 1-year low of $179.67 and a 1-year high of $246.69. The stock has a market cap of $112.83 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96.

Caterpillar (NYSE:CATGet Rating) last issued its earnings results 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. Caterpillar had a return on equity of 35.31% and a net margin of 12.33%. The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.49 billion. During the same period last year, the business earned $2.87 EPS. Caterpillar’s quarterly revenue was up 14.4% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Monday, April 25th will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, April 22nd. Caterpillar’s dividend payout ratio is presently 37.22%.

In related news, CAO Gary Michael Marvel sold 674 shares of the company’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $203.11, for a total value of $136,896.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David Maclennan acquired 480 shares of the firm’s stock in a transaction that occurred on Monday, February 7th. The stock was bought at an average price of $199.50 per share, for a total transaction of $95,760.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 49,850 shares of company stock worth $11,087,916. Company insiders own 0.18% of the company’s stock.

Several hedge funds have recently bought and sold shares of CAT. BlackRock Inc. boosted its stake in Caterpillar by 2.3% in the third quarter. BlackRock Inc. now owns 37,727,559 shares of the industrial products company’s stock worth $7,242,558,000 after buying an additional 838,706 shares in the last quarter. Capital World Investors boosted its stake in Caterpillar by 11.6% in the fourth quarter. Capital World Investors now owns 13,262,687 shares of the industrial products company’s stock worth $2,741,910,000 after buying an additional 1,373,656 shares in the last quarter. Geode Capital Management LLC boosted its stake in Caterpillar by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 8,619,170 shares of the industrial products company’s stock worth $1,776,940,000 after buying an additional 52,169 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Caterpillar by 2.5% in the fourth quarter. Fisher Asset Management LLC now owns 7,004,189 shares of the industrial products company’s stock worth $1,448,046,000 after buying an additional 168,085 shares in the last quarter. Finally, Norges Bank purchased a new stake in Caterpillar in the fourth quarter worth approximately $1,103,021,000. Institutional investors own 67.11% of the company’s stock.

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.

Further Reading

Earnings History and Estimates for Caterpillar (NYSE:CAT)

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