Caterpillar Inc. (NYSE:CAT) Expected to Announce Earnings of $2.89 Per Share

Equities analysts expect Caterpillar Inc. (NYSE:CAT) to post earnings of $2.89 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Caterpillar’s earnings, with the lowest EPS estimate coming in at $2.54 and the highest estimate coming in at $3.06. Caterpillar reported earnings per share of $2.86 in the same quarter last year, which indicates a positive year over year growth rate of 1%. The company is expected to announce its next earnings report on Tuesday, October 22nd.

According to Zacks, analysts expect that Caterpillar will report full year earnings of $11.72 per share for the current fiscal year, with EPS estimates ranging from $11.33 to $12.10. For the next fiscal year, analysts forecast that the business will report earnings of $12.36 per share, with EPS estimates ranging from $10.18 to $12.98. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Caterpillar.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The firm had revenue of $14.43 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same quarter in the previous year, the firm posted $2.97 earnings per share. Caterpillar’s quarterly revenue was up 3.0% compared to the same quarter last year.

A number of brokerages have recently weighed in on CAT. Macquarie set a $115.00 price objective on shares of Caterpillar and gave the stock a “sell” rating in a research note on Tuesday, June 11th. Atlantic Securities cut Caterpillar from a “neutral” rating to an “underweight” rating in a research report on Friday, June 21st. Robert W. Baird decreased their target price on Caterpillar from $161.00 to $155.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. UBS Group decreased their target price on Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a research report on Tuesday, June 4th. Finally, Buckingham Research cut Caterpillar from a “buy” rating to a “neutral” rating and decreased their target price for the company from $162.00 to $140.00 in a research report on Thursday, July 25th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $139.90.

Shares of Caterpillar stock traded up $0.04 on Thursday, reaching $115.25. The stock had a trading volume of 4,121,039 shares, compared to its average volume of 4,414,678. The business’s 50-day moving average price is $131.01 and its two-hundred day moving average price is $132.33. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43. Caterpillar has a fifty-two week low of $112.06 and a fifty-two week high of $159.37. The stock has a market cap of $64.63 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 0.83 and a beta of 1.52.

Large investors have recently added to or reduced their stakes in the company. Weiss Asset Management LP bought a new stake in shares of Caterpillar during the first quarter worth about $200,000. Manning & Napier Group LLC grew its holdings in shares of Caterpillar by 30.4% during the second quarter. Manning & Napier Group LLC now owns 152,404 shares of the industrial products company’s stock worth $20,770,000 after purchasing an additional 35,530 shares during the last quarter. Atalanta Sosnoff Capital LLC lifted its stake in shares of Caterpillar by 3.6% in the second quarter. Atalanta Sosnoff Capital LLC now owns 3,487 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 120 shares during the period. Tufton Capital Management lifted its stake in shares of Caterpillar by 1.2% in the first quarter. Tufton Capital Management now owns 66,628 shares of the industrial products company’s stock worth $9,027,000 after acquiring an additional 787 shares during the period. Finally, Krueger & Catalano Capital Partners LLC lifted its stake in shares of Caterpillar by 6.4% in the second quarter. Krueger & Catalano Capital Partners LLC now owns 4,892 shares of the industrial products company’s stock worth $667,000 after acquiring an additional 293 shares during the period. Institutional investors own 66.86% of the company’s stock.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Earnings History and Estimates for Caterpillar (NYSE:CAT)

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