Jefferies Group Brokers Lift Earnings Estimates for Caterpillar, Inc. (NYSE:CAT)
Caterpillar, Inc. (NYSE:CAT) – Jefferies Group increased their Q3 2017 earnings estimates for Caterpillar in a report issued on Tuesday. Jefferies Group analyst S. Volkmann now forecasts that the industrial products company will post earnings of $1.13 per share for the quarter, up from their previous estimate of $0.87. Jefferies Group currently has a “Hold” rating and a $120.00 target price on the stock. Jefferies Group also issued estimates for Caterpillar’s Q4 2017 earnings at $1.25 EPS, FY2017 earnings at $5.15 EPS, FY2018 earnings at $6.15 EPS and FY2019 earnings at $7.00 EPS.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the firm posted $1.09 EPS. The business’s revenue was up 9.6% on a year-over-year basis. TRADEMARK VIOLATION WARNING: This report was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2017/07/28/jefferies-group-brokers-lift-earnings-estimates-for-caterpillar-inc-nysecat.html.
Several other analysts also recently issued reports on CAT. Bank of America Corporation restated a “buy” rating and issued a $135.00 price objective (up from $120.00) on shares of Caterpillar in a research report on Thursday. TheStreet upgraded Caterpillar from a “c+” rating to a “b” rating in a research report on Tuesday. Credit Suisse Group set a $123.00 target price on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday. Citigroup Inc. increased their target price on Caterpillar from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Deutsche Bank AG restated a “hold” rating and issued a $120.00 price objective (up from $106.00) on shares of Caterpillar in a report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and an average price target of $104.20.
Caterpillar (NYSE:CAT) opened at 114.37 on Friday. The stock’s market cap is $67.37 billion. The firm has a 50-day moving average price of $107.25 and a 200-day moving average price of $99.67. Caterpillar has a one year low of $79.93 and a one year high of $114.89.
Hedge funds have recently added to or reduced their stakes in the stock. Howe & Rusling Inc. boosted its stake in Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock worth $101,000 after buying an additional 372 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Caterpillar during the first quarter worth about $107,000. First Personal Financial Services boosted its position in Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after buying an additional 750 shares during the period. Harfst & Associates Inc. purchased a new position in Caterpillar during the first quarter worth about $111,000. Finally, Financial Architects Inc boosted its position in shares of Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock valued at $113,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 70.69% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be paid a $0.78 dividend. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio is 2,080.00%.
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.