Caterpillar Given New $80.00 Price Target at BMO Capital Markets (CAT)
Equities research analysts at BMO Capital Markets upped their target price on shares of Caterpillar (NYSE:CAT) from $78.00 to $80.00 in a research note issued to investors on Thursday, Analyst Ratings Net reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential downside of 5.63% from the stock’s previous close.
Caterpillar (NYSE:CAT) traded up 0.28% on Thursday, hitting $84.77. The stock had a trading volume of 4,891,429 shares. Caterpillar has a 52 week low of $79.49 and a 52 week high of $99.70. The stock’s 50-day moving average is $84.14 and its 200-day moving average is $85.4. The company has a market cap of $54.898 billion and a price-to-earnings ratio of 13.33. Caterpillar also saw some unusual options trading activity on Wednesday. Investors purchased 63,569 call options on the company. This represents an increase of approximately 245% compared to the average daily volume of 18,409 call 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 $5.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, November 20th. Shareholders 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 2.83%. The ex-dividend date of this dividend is Thursday, October 17th.
CAT has been the subject of a number of other recent research reports. Analysts at Barclays cut their price target on shares of Caterpillar from $99.00 to $95.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Separately, 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. Finally, 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. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $91.25.
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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