Caterpillar Price Target Increased to $121.00 by Analysts at Susquehanna (CAT)
Susquehanna lifted their price objective on shares of Caterpillar (NYSE:CAT) from $105.00 to $121.00 in a research note issued on Friday, StockRatingsNetwork reports. Susquehanna’s price objective points to a potential upside of 14.93% from the company’s current price.
CAT has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of Caterpillar from $85.00 to $95.00 in a research note on Friday. Separately, analysts at Credit Suisse raised their price target on shares of Caterpillar from $103.00 to $117.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $91.68.
Caterpillar (NYSE:CAT) opened at 105.28 on Friday. Caterpillar has a 52-week low of $80.86 and a 52-week high of $107.40. The stock’s 50-day moving average is $99.76 and its 200-day moving average is $91.4. The company has a market cap of $67.150 billion and a price-to-earnings ratio of 18.31. Caterpillar also was the target of a large drop in short interest during the month of January. As of March 31st, there was short interest totalling 24,940,659 shares, a drop of 28.0% from the March 14th total of 34,629,924 shares. Based on an average daily trading volume, of 5,773,788 shares, the days-to-cover ratio is presently 4.3 days. Approximately 3.9% of the shares of the company are sold short.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.24 by $0.37. The company had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $13.14 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Caterpillar will post $5.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, May 20th. Stockholders of record on Monday, April 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 2.28%. The ex-dividend date of this dividend is Wednesday, April 16th.
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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