Barclays Lowers Caterpillar Price Target to $95.00 (CAT)
Investment analysts at Barclays lowered their target price on shares of Caterpillar (NYSE:CAT) from $99.00 to $95.00 in a note issued to investors on Thursday, ARN reports. The firm currently has an “overweight” rating on the stock. Barclays’ price objective suggests a potential upside of 13.42% from the company’s current price.
Caterpillar (NYSE:CAT) traded up 0.94% on Thursday, hitting $84.5501. 5,334,387 shares of the company’s stock traded hands. Caterpillar has a 1-year low of $79.49 and a 1-year high of $99.70. The stock has a 50-day moving average of $84.14 and a 200-day moving average of $85.4. The company has a market cap of $54.756 billion and a price-to-earnings ratio of 13.21. Caterpillar also saw unusually large options trading activity on Tuesday. Investors acquired 34,025 put options on the stock. This represents an increase of approximately 271% compared to the average volume of 9,169 put options.
Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 23rd. 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 $13.42 billion for the quarter, compared to the consensus estimate of $14.49 billion. During the same quarter in the prior year, the company posted $2.54 earnings per share. The company’s quarterly revenue was down 18.4% on a year-over-year basis. Analysts expect that Caterpillar will post $6.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, October 17th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Caterpillar in a research note to investors on Thursday. They now have a $88.00 price target on the stock. Separately, analysts at UBS AG cut their EPS estimates on shares of Caterpillar in a research note on Thursday. They now have a “neutral” rating and a $84.00 price target on the stock. Finally, analysts at TheStreet upgraded shares of Caterpillar to a “buy” rating in a research note to investors on Thursday. Fifteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Caterpillar presently has an average rating of “Hold” and a consensus price target of $91.17.
Caterpillar Inc (NYSE:CAT) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.