Credit Suisse Increases Caterpillar EPS Estimates (CAT)
Research analysts at Credit Suisse hoisted their earnings per share (EPS) estimates on shares of Caterpillar (NYSE:CAT) in a report released on Monday, Analyst Ratings.Net reports. The firm currently has an “outperform” rating and a $94.00 price target on the company’s shares. Credit Suisse’s price target would indicate a potential upside of 9.80% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Thomson Reuters/Verus downgraded shares of Caterpillar from a “hold” rating to a “sell” rating in a research note to investors on Monday, October 7th. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Caterpillar in a research note to investors on Monday, October 7th. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Caterpillar in a research note to investors on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $92.93.
Caterpillar (NYSE:CAT) traded up 0.11% during mid-day trading on Monday, hitting $85.70. The stock had a trading volume of 1,461,082 shares. Caterpillar has a 52-week low of $79.49 and a 52-week high of $99.70. The stock has a 50-day moving average of $84.57 and a 200-day moving average of $84.80. The company has a market cap of $55.501 billion and a price-to-earnings ratio of 13.50.
Caterpillar (NYSE:CAT) last released its earnings data on Wednesday, July 24th. The company reported $1.45 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.71 by $0.26. The company had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $15.03 billion. During the same quarter in the prior year, the company posted $2.54 earnings per share. The company’s quarterly revenue was down 15.8% on a year-over-year basis. Analysts expect that Caterpillar will post $6.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, October 17th.
Caterpillar Inc (NYSE:CAT) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
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