Caterpillar, Inc. (CAT) Expected to Announce Quarterly Sales of $10.57 Billion
Analysts forecast that Caterpillar, Inc. (NYSE:CAT) will announce $10.57 billion in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Caterpillar’s earnings, with the lowest sales estimate coming in at $10.38 billion and the highest estimate coming in at $10.92 billion. Caterpillar reported sales of $9.16 billion during the same quarter last year, which indicates a positive year over year growth rate of 15.4%. The firm is expected to report its next earnings results before the market opens on Tuesday, October 24th.
On average, analysts expect that Caterpillar will report full-year sales of $10.57 billion for the current financial year, with estimates ranging from $42.36 billion to $43.61 billion. For the next financial year, analysts forecast that the business will report sales of $46.28 billion per share, with estimates ranging from $45.17 billion to $47.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Caterpillar.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year.
Several equities analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Caterpillar from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, September 14th. Credit Suisse Group reaffirmed a “buy” rating and issued a $123.00 price objective on shares of Caterpillar in a research note on Thursday, June 22nd. Bank of America Corporation set a $120.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Vetr cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price objective on the stock. in a research note on Monday, September 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $125.00 price objective on shares of Caterpillar in a research note on Sunday, July 30th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Caterpillar presently has an average rating of “Hold” and a consensus price target of $114.03.
Shares of Caterpillar (NYSE CAT) opened at 124.46 on Monday. The firm has a 50 day moving average of $116.33 and a 200 day moving average of $105.20. The stock has a market cap of $73.55 billion, a P/E ratio of 695.31 and a beta of 1.24. Caterpillar has a one year low of $80.33 and a one year high of $125.42.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzette M. Long sold 13,859 shares of Caterpillar stock in a transaction that occurred on Friday, August 4th. The shares were 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 directly owns 18,188 shares in the company, valued at approximately $2,078,888.40. 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 quarter. Corporate insiders own 0.14% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC bought a new position in shares of Caterpillar in the second quarter valued at approximately $104,000. Motco raised 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 valued at $106,000 after purchasing an additional 718 shares during the period. Acrospire Investment Management LLC raised 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 valued at $107,000 after purchasing an additional 900 shares during the period. Reilly Financial Advisors LLC raised its position in shares of Caterpillar by 92.9% in the second quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 535 shares during the period. Finally, Harbour Capital Advisors LLC bought a new position in shares of Caterpillar in the first quarter valued at approximately $107,000. 69.24% of the stock is currently owned by institutional investors.
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