Caterpillar, Inc. (NYSE:CAT) Updates FY17 Earnings Guidance
Caterpillar, Inc. (NYSE:CAT) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.32. The company issued revenue guidance of $42-44 billion, compared to the consensus revenue estimate of $40.74 billion.
Shares of Caterpillar, Inc. (NYSE CAT) opened at 108.18 on Tuesday. The firm has a 50-day moving average of $106.41 and a 200 day moving average of $99.30. Caterpillar, Inc. has a 1-year low of $78.74 and a 1-year high of $110.00. The company’s market capitalization is $63.73 billion.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. The company had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a negative net margin of 0.38% and a positive return on equity of 16.46%. Caterpillar’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $1.09 earnings per share. On average, analysts anticipate that Caterpillar, Inc. will post $4.27 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.88%. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date is Tuesday, July 18th. Caterpillar’s dividend payout ratio (DPR) is presently -1,155.51%.
A number of equities analysts have commented on CAT shares. Vetr cut shares of Caterpillar from a hold rating to a sell rating and set a $89.96 price objective for the company. in a research note on Tuesday, March 28th. Zacks Investment Research cut shares of Caterpillar from a hold rating to a sell rating in a research note on Wednesday, March 29th. Goldman Sachs Group, Inc. (The) raised shares of Caterpillar from a buy rating to a conviction-buy rating and set a $120.00 price objective for the company in a research note on Tuesday, April 4th. Deutsche Bank AG dropped their price objective on shares of Caterpillar from $108.00 to $105.00 and set a buy rating for the company in a research note on Thursday, April 6th. Finally, Robert W. Baird set a $102.00 price objective on shares of Caterpillar and gave the stock a hold rating in a research note on Wednesday, April 12th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $98.51.
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