Equities analysts forecast that Caterpillar Inc. (NYSE:CAT) will report sales of $9.52 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Caterpillar's earnings, with the lowest sales estimate coming in at $9.16 billion and the highest estimate coming in at $9.70 billion. Caterpillar posted sales of $12.76 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 25.4%. The firm is scheduled to issue its next earnings results on Wednesday, October 28th.
According to Zacks, analysts expect that Caterpillar will report full-year sales of $41.57 billion for the current fiscal year, with estimates ranging from $40.78 billion to $42.35 billion. For the next financial year, analysts forecast that the company will post sales of $44.57 billion, with estimates ranging from $41.38 billion to $46.19 billion. Zacks Investment Research's sales calculations are a mean average based on a survey of research firms that cover Caterpillar.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Friday, July 31st. The industrial products company reported $1.03 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.66 by $0.37. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.40 billion. Caterpillar had a return on equity of 30.52% and a net margin of 8.90%. The company's quarterly revenue was down 30.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.83 earnings per share.
Several research analysts have recently commented on CAT shares. Zacks Investment Research downgraded Caterpillar from a "hold" rating to a "strong sell" rating and set a $130.00 price objective on the stock. in a report on Tuesday, June 30th. UBS Group boosted their price target on Caterpillar from $112.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. Credit Suisse Group boosted their price target on Caterpillar from $144.00 to $159.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Sanford C. Bernstein began coverage on Caterpillar in a report on Tuesday. They set a "market perform" rating on the stock. Finally, Tigress Financial restated a "buy" rating on shares of Caterpillar in a report on Wednesday, July 15th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. The company has an average rating of "Hold" and an average price target of $140.42.
CAT opened at $144.38 on Thursday. The company has a market cap of $78.18 billion, a P/E ratio of 19.38, a P/E/G ratio of 2.45 and a beta of 1.13. The business's 50-day moving average price is $144.17 and its 200-day moving average price is $125.69. The company has a current ratio of 1.50, a quick ratio of 1.05 and a debt-to-equity ratio of 1.95. Caterpillar has a 12 month low of $87.50 and a 12 month high of $156.25.
In other news, insider Lange Bob De sold 1,575 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $147.00, for a total value of $231,525.00. Following the sale, the insider now directly owns 30,798 shares of the company's stock, valued at approximately $4,527,306. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company's stock.
Several institutional investors and hedge funds have recently modified their holdings of CAT. Capital International Investors boosted its position in shares of Caterpillar by 77.1% in the 1st quarter. Capital International Investors now owns 4,955,847 shares of the industrial products company's stock worth $575,076,000 after purchasing an additional 2,157,830 shares in the last quarter. Macquarie Group Ltd. lifted its position in Caterpillar by 60.1% in the 2nd quarter. Macquarie Group Ltd. now owns 5,295,844 shares of the industrial products company's stock valued at $669,814,000 after acquiring an additional 1,987,177 shares in the last quarter. BlackRock Inc. lifted its position in Caterpillar by 3.7% in the 2nd quarter. BlackRock Inc. now owns 35,907,749 shares of the industrial products company's stock valued at $4,542,330,000 after acquiring an additional 1,293,131 shares in the last quarter. Invesco Ltd. lifted its position in Caterpillar by 45.3% in the 1st quarter. Invesco Ltd. now owns 3,435,542 shares of the industrial products company's stock valued at $398,662,000 after acquiring an additional 1,071,048 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Caterpillar by 17.9% in the 1st quarter. Wellington Management Group LLP now owns 6,735,624 shares of the industrial products company's stock valued at $781,602,000 after acquiring an additional 1,023,938 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.
Caterpillar Company Profile
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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