Caterpillar (CAT) to Release Earnings on Thursday
Caterpillar (NYSE:CAT) is set to release its earnings data on Thursday, April 24th. Caterpillar has set its FY14 guidance at $5.85 EPS.Investors interested in participating in the company’s conference call can do so using this link.
Caterpillar (NYSE:CAT) last announced its earnings results on Monday, January 27th. The company reported $1.54 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.91 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. On average, analysts expect Caterpillar to post $5.93 EPS for the current fiscal year and $6.90 EPS for the next fiscal year.
Shares of Caterpillar (NYSE:CAT) opened at 103.69 on Wednesday. Caterpillar has a one year low of $80.86 and a one year high of $104.14. The stock’s 50-day moving average is $99.32 and its 200-day moving average is $91.29. The company has a market cap of $66.136 billion and a P/E ratio of 17.85. Caterpillar also was the recipient of a significant decline in short interest in January. As of March 31st, there was short interest totalling 24,940,659 shares, a decline of 28.0% from the March 14th total of 34,629,924 shares. Currently, 3.9% of the company’s stock are sold short. Based on an average daily volume of 5,773,788 shares, the days-to-cover ratio is presently 4.3 days.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, May 20th. Investors of record on Monday, April 21st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, April 16th.
A number of analysts have recently weighed in on CAT shares. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Caterpillar in a research note on Tuesday. They now have a $122.00 price target on the stock. On the ratings front, analysts at UBS AG downgraded shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Monday. They now have a $6.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $92.00 to $96.00 in a research note on Thursday, April 10th. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $88.61.
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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