Caterpillar’s “Neutral” Rating Reaffirmed at Zacks (CAT)
Caterpillar (NYSE:CAT)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Tuesday, Analyst Ratings Net reports. They currently have a $96.00 target price on the stock. Zacks‘ target price would suggest a potential upside of 5.16% from the stock’s previous close.
Zacks‘ analyst wrote, “Caterpillar’s fourth-quarter revenues declined 10% year over year to $14.4 billion, while earnings per share increased 5% to $1.54 as the company’s incessant efforts to cut down costs helped mitigate the effect of lower mining-related sales on its profits. Caterpillar will benefit from increased share in the Chinese excavator market, recovery in the U.S. construction sector and share repurchases. However, a declining backlog, the European debt crisis remain concerns for the mining equipment behemoth. We maintain our Neutral recommendation with a target price of $96.00.”
Shares of Caterpillar (NYSE:CAT) traded up 1.05% during mid-day trading on Tuesday, hitting $92.25. The stock had a trading volume of 5,634,237 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 $89.08 and its 200-day moving average is $85.63. The company has a market cap of $58.704 billion and a price-to-earnings ratio of 17.40.
Caterpillar (NYSE:CAT) last announced its earnings results on Monday, January 27th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.26. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.64 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Analysts expect that Caterpillar will post $5.50 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on CAT. Analysts at Raymond James raised their price target on shares of Caterpillar from $89.00 to $94.00 in a research note to investors on Tuesday. Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of Caterpillar from $94.00 to $100.00 in a research note to investors on Tuesday. Finally, analysts at Citigroup Inc. raised their price target on shares of Caterpillar from $92.00 to $100.00 in a research note to investors on Tuesday. Fifteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $94.00.
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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