Caterpillar, Inc. (NYSE:CAT) Updates FY17 Earnings Guidance

Caterpillar, Inc. (NYSE:CAT) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of $5.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.32. The company issued revenue guidance of $42-44 billion, compared to the consensus revenue estimate of $40.74 billion.

Shares of Caterpillar, Inc. (NYSE:CAT) traded down 0.27% during mid-day trading on Friday, reaching $112.85. 2,130,558 shares of the company’s stock were exchanged. Caterpillar, Inc. has a one year low of $79.93 and a one year high of $115.46. The company’s 50-day moving average price is $109.77 and its 200-day moving average price is $101.19. The company has a market capitalization of $66.69 billion, a PE ratio of 630.45 and a beta of 1.25.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period last year, the business earned $1.09 EPS. Caterpillar’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts expect that Caterpillar, Inc. will post $5.24 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.76%. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Tuesday, July 18th. Caterpillar’s payout ratio is presently 2,080.00%.

Several brokerages have commented on CAT. Wells Fargo & Company restated an outperform rating on shares of Caterpillar in a research note on Wednesday, July 26th. Deutsche Bank AG restated a hold rating and set a $120.00 price objective (up from $106.00) on shares of Caterpillar in a research note on Wednesday, July 26th. Jefferies Group LLC restated a hold rating and set a $120.00 price objective (up from $100.00) on shares of Caterpillar in a research note on Wednesday, July 26th. Axiom Securities restated a sell rating on shares of Caterpillar in a research note on Wednesday, July 26th. Finally, Credit Suisse Group restated an outperform rating and set a $133.00 price objective (up from $123.00) on shares of Caterpillar in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Caterpillar currently has a consensus rating of Hold and an average target price of $107.15.

In other news, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction dated 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 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 have sold 201,471 shares of company stock valued at $22,979,332 in the last ninety days. Insiders own 0.15% of the company’s stock.

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Caterpillar Company Profile

Earnings History and Estimates for Caterpillar (NYSE:CAT)

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