Caterpillar, Inc. (CAT) Announces Quarterly Earnings Results
Caterpillar, Inc. (NYSE:CAT) announced its earnings results on Tuesday. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.27 by $0.68, Bloomberg Earnings reports. The firm had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. Caterpillar updated its FY17 guidance to $6.25 EPS.
Caterpillar (NYSE CAT) opened at 131.68 on Tuesday. The firm’s 50-day moving average is $125.16 and its 200-day moving average is $111.17. Caterpillar has a 52-week low of $80.33 and a 52-week high of $132.34. The company has a market capitalization of $77.82 billion, a PE ratio of 735.64 and a beta of 1.25.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.37%. Caterpillar’s dividend payout ratio (DPR) is 2,080.00%.
Several analysts have commented on CAT shares. Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 target price on the stock. in a report on Monday, September 11th. Jefferies Group LLC restated a “hold” rating and set a $100.00 target price on shares of Caterpillar in a report on Tuesday, August 29th. Royal Bank Of Canada restated a “hold” rating on shares of Caterpillar in a report on Tuesday, August 29th. UBS AG upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.00 to $140.00 in a report on Monday, September 18th. Finally, BMO Capital Markets raised their target price on shares of Caterpillar from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, September 14th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $119.82.
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In other news, insider Suzette M. Long sold 13,859 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the transaction, the insider now owns 18,188 shares in the company, valued at approximately $2,078,888.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William A. Osborn sold 5,000 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock valued at $22,979,332 in the last quarter. 0.14% of the stock is owned by corporate insiders.
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