Caterpillar PT Raised to $117.00 at Credit Suisse (CAT)
Equities researchers at Credit Suisse increased their target price on shares of Caterpillar (NYSE:CAT) from $103.00 to $117.00 in a research report issued on Friday, ARN reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price objective suggests a potential upside of 11.76% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at UBS AG downgraded shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Monday, April 21st. 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 analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $91.68.
Caterpillar (NYSE:CAT) opened at 104.69 on Friday. Caterpillar has a 52-week low of $80.86 and a 52-week high of $107.40. The stock has a 50-day moving average of $99.96 and a 200-day moving average of $91.63. The company has a market cap of $66.774 billion and a price-to-earnings ratio of 18.31. Caterpillar also was the recipient of a large drop in short interest in 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. Currently, 3.9% of the shares of the stock are short sold. Based on an average trading volume of 5,773,788 shares, the days-to-cover ratio is presently 4.3 days.
Caterpillar (NYSE:CAT) last announced its earnings results 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 announced a quarterly dividend, which is scheduled for Tuesday, May 20th. Shareholders 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 2.29%. The ex-dividend date 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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