Caterpillar, Inc. (CAT) Expected to Announce Quarterly Sales of $10.61 Billion
Wall Street analysts expect Caterpillar, Inc. (NYSE:CAT) to announce $10.61 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Caterpillar’s earnings, with the highest sales estimate coming in at $10.92 billion and the lowest estimate coming in at $10.38 billion. Caterpillar posted sales of $9.16 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 15.8%. The company is scheduled to report its next earnings results before the market opens on Tuesday, October 24th.
According to Zacks, analysts expect that Caterpillar will report full-year sales of $10.61 billion for the current financial year, with estimates ranging from $42.36 billion to $43.61 billion. For the next fiscal year, analysts forecast that the business will report sales of $46.44 billion per share, with estimates ranging from $44.99 billion to $47.69 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Caterpillar.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.23. The company had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. Caterpillar’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS.
A number of research firms recently weighed in on CAT. Vetr raised shares of Caterpillar from a “sell” rating to a “hold” rating and set a $124.44 price target on the stock in a research report on Tuesday. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a research report on Wednesday. Goldman Sachs Group, Inc. (The) raised their price target on shares of Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research report on Monday. Deutsche Bank AG reissued a “hold” rating and set a $121.00 price target (up from $120.00) on shares of Caterpillar in a research report on Monday. Finally, Credit Suisse Group reissued a “hold” rating and set a $133.00 price target on shares of Caterpillar in a research report on Friday, September 22nd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $116.98.
Caterpillar (NYSE CAT) opened at 129.99 on Friday. The stock’s 50 day moving average is $122.19 and its 200 day moving average is $109.02. The firm has a market capitalization of $76.82 billion, a price-to-earnings ratio of 726.20 and a beta of 1.26. Caterpillar has a 1-year low of $80.33 and a 1-year high of $130.16.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.40%. Caterpillar’s dividend payout ratio (DPR) is currently 2,080.00%.
In other news, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the transaction, the insider now directly owns 18,188 shares in the company, valued at $2,078,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock valued at $22,979,332 over the last 90 days. 0.14% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its position in Caterpillar by 10.6% during the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 128 shares during the last quarter. Baker Ellis Asset Management LLC bought a new stake in Caterpillar during the second quarter valued at approximately $104,000. Motco lifted its position in Caterpillar by 264.9% during the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 718 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in Caterpillar during the first quarter valued at approximately $107,000. Finally, Acrospire Investment Management LLC lifted its position in Caterpillar by 900.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 69.24% of the company’s stock.
Caterpillar Company Profile
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