Caterpillar Stock Rating Reaffirmed by Wed (CAT)
The analysts wrote, “With the Dow Jones Industrial Average approaching another milestone, Jim Cramer told his Mad Money viewers Wednesday he can still make a case for the top five stocks that helped propel the average to these lofty heights. Cramer said Caterpillar (CAT), Walt Disney (DIS), Intel (INTC), Merck (MRK) and even Cisco (CSCO) are still strong buys.
Cramer told viewers that it’s only natural to think you missed the move in a stock that’s already up big, but in the case of Caterpillar this stock still hasn’t reached its 2011 highs and the world’s economy will surely be stronger six months from now. At 15 times earnings, Cramer said investors have not missed Caterpillar.
Cramer said while Disney is not cheap at current levels, the company does have a lot going for it including several billion dollar sequels from its movie powerhouses including Marvell, Pixar and Lucasfilms.”
Shares of Caterpillar (NYSE:CAT) traded up 0.36% on Wednesday, hitting $109.56. 1,850,198 shares of the company’s stock traded hands. Caterpillar has a 52 week low of $81.35 and a 52 week high of $109.95. The stock’s 50-day moving average is $106.3 and its 200-day moving average is $99.03. The company has a market cap of $68.391 billion and a P/E ratio of 18.55.
Caterpillar (NYSE:CAT) last released its earnings data on Thursday, April 24th. The company reported $1.61 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.31 earnings per share. Caterpillar’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Caterpillar will post $6.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, July 17th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.60.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated an “outperform” rating on shares of Caterpillar in a research note on Tuesday, May 20th. Separately, analysts at Zacks upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 15th. They now have a $128.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of Caterpillar from $103.00 to $120.00 in a research note on Wednesday, May 7th. They now have a “buy” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Caterpillar presently has an average rating of “Hold” and a consensus price target of $98.18.
Caterpillar Inc (NYSE:CAT) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.