Caterpillar Inc. (CAT) Expected to Post Earnings of $2.76 Per Share

Equities analysts expect Caterpillar Inc. (NYSE:CAT) to announce $2.76 earnings per share for the current quarter, according to Zacks. Five analysts have made estimates for Caterpillar’s earnings. The highest EPS estimate is $2.96 and the lowest is $2.39. Caterpillar reported earnings per share of $1.95 in the same quarter last year, which would indicate a positive year-over-year growth rate of 41.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, October 23rd.

According to Zacks, analysts expect that Caterpillar will report full-year earnings of $11.54 per share for the current fiscal year, with EPS estimates ranging from $10.55 to $11.80. For the next fiscal year, analysts anticipate that the firm will post earnings of $12.87 per share, with EPS estimates ranging from $11.65 to $13.85. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Caterpillar.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.24. The company had revenue of $14.01 billion for the quarter, compared to the consensus estimate of $14.09 billion. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.49 EPS.

Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Wednesday, April 18th. Robert W. Baird set a $158.00 price objective on shares of Caterpillar and gave the company a “hold” rating in a report on Tuesday, April 24th. Stifel Nicolaus reaffirmed a “hold” rating and set a $174.00 price objective (down from $176.00) on shares of Caterpillar in a report on Monday, May 14th. BMO Capital Markets dropped their price objective on shares of Caterpillar from $195.00 to $185.00 and set an “outperform” rating on the stock in a report on Tuesday, July 31st. They noted that the move was a valuation call. Finally, Morgan Stanley upped their price objective on shares of Caterpillar from $185.00 to $187.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Thirteen analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $171.85.

Shares of Caterpillar traded down $2.60, reaching $135.92, during midday trading on Friday, Marketbeat reports. The company had a trading volume of 6,267,106 shares, compared to its average volume of 4,853,549. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.97 and a current ratio of 1.37. The company has a market capitalization of $82.33 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38. Caterpillar has a 52-week low of $112.69 and a 52-week high of $173.24.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Friday, July 20th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.53%. This is a boost from Caterpillar’s previous quarterly dividend of $0.78. The ex-dividend date is Thursday, July 19th. Caterpillar’s dividend payout ratio is 50.00%.

In related news, Director David L. Calhoun acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The shares were bought at an average cost of $155.37 per share, for a total transaction of $776,850.00. Following the completion of the transaction, the director now owns 19,579 shares in the company, valued at $3,041,989.23. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CAT. Envestnet Asset Management Inc. lifted its holdings in Caterpillar by 10.1% in the second quarter. Envestnet Asset Management Inc. now owns 60,263 shares of the industrial products company’s stock worth $8,175,000 after acquiring an additional 5,546 shares during the last quarter. Avestar Capital LLC lifted its holdings in Caterpillar by 92.3% in the second quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 477 shares during the last quarter. Stephens Inc. AR lifted its holdings in Caterpillar by 1.5% in the second quarter. Stephens Inc. AR now owns 45,283 shares of the industrial products company’s stock worth $6,144,000 after acquiring an additional 666 shares during the last quarter. Highstreet Asset Management Inc. lifted its holdings in Caterpillar by 5,910.4% in the second quarter. Highstreet Asset Management Inc. now owns 11,540 shares of the industrial products company’s stock worth $1,566,000 after acquiring an additional 11,348 shares during the last quarter. Finally, AGF Investments Inc. lifted its holdings in Caterpillar by 127.3% in the second quarter. AGF Investments Inc. now owns 549,531 shares of the industrial products company’s stock worth $74,555,000 after acquiring an additional 307,739 shares during the last quarter. Institutional investors and hedge funds own 67.17% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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