FY2017 EPS Estimates for Caterpillar Inc. Decreased by Jefferies Group (CAT)

Caterpillar Inc. (NYSE:CAT) – Jefferies Group decreased their FY2017 earnings estimates for shares of Caterpillar in a report issued on Thursday. Jefferies Group analyst S. Volkmann now expects that the industrial products company will post earnings per share of $6.47 for the year, down from their previous estimate of $6.50.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. The company had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS.

A number of other research firms have also weighed in on CAT. Vetr lowered Caterpillar from a “hold” rating to a “sell” rating and set a $122.98 price objective for the company. in a research report on Monday, October 9th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $146.00 price objective (up previously from $133.00) on shares of Caterpillar in a report on Wednesday, October 18th. Wells Fargo & Co lifted their price objective on Caterpillar from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. BMO Capital Markets lifted their price objective on Caterpillar from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Finally, UBS Group set a $155.00 price objective on Caterpillar and gave the stock a “buy” rating in a report on Tuesday, December 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $156.64.

Caterpillar (CAT) opened at $170.41 on Monday. Caterpillar has a 52-week low of $90.34 and a 52-week high of $173.24. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The firm has a market capitalization of $101,380.00, a P/E ratio of 118.34, a P/E/G ratio of 2.08 and a beta of 1.29.

Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC lifted its position in shares of Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock worth $102,000 after buying an additional 128 shares in the last quarter. Motco lifted its position in shares of Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after buying an additional 718 shares in the last quarter. Acrospire Investment Management LLC lifted its position in shares of Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after buying an additional 900 shares in the last quarter. Blue Chip Partners Inc. purchased a new stake in shares of Caterpillar in the second quarter worth about $136,000. Finally, Hanson McClain Inc. lifted its position in shares of Caterpillar by 81.1% in the second quarter. Hanson McClain Inc. now owns 1,313 shares of the industrial products company’s stock worth $141,000 after buying an additional 588 shares in the last quarter. Institutional investors own 68.55% of the company’s stock.

In related news, CFO Bradley M. Halverson sold 17,210 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total value of $2,363,449.30. Following the sale, the chief financial officer now directly owns 7,814 shares in the company, valued at $1,073,096.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lange Bob De sold 1,572 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now owns 11,096 shares in the company, valued at $1,526,587.68. The disclosure for this sale can be found here. Insiders sold 52,989 shares of company stock worth $7,235,850 over the last 90 days. Company insiders own 0.14% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be given a $0.78 dividend. The ex-dividend date is Friday, January 19th. This represents a $3.12 annualized dividend and a dividend yield of 1.83%. Caterpillar’s payout ratio is 216.67%.

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About Caterpillar

Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

Earnings History and Estimates for Caterpillar (NYSE:CAT)

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