$13.40 Billion in Sales Expected for Caterpillar Inc. (CAT) This Quarter

Wall Street brokerages expect that Caterpillar Inc. (NYSE:CAT) will post sales of $13.40 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Caterpillar’s earnings. The highest sales estimate is $14.20 billion and the lowest is $12.70 billion. Caterpillar reported sales of $12.86 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The firm is scheduled to issue its next earnings results before the market opens on Wednesday, April 24th.

On average, analysts expect that Caterpillar will report full year sales of $57.32 billion for the current financial year, with estimates ranging from $55.24 billion to $60.30 billion. For the next fiscal year, analysts expect that the business will post sales of $58.25 billion, with estimates ranging from $51.07 billion to $63.34 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Caterpillar.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Monday, January 28th. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.43). Caterpillar had a return on equity of 45.31% and a net margin of 11.23%. The business had revenue of $14.34 billion during the quarter, compared to the consensus estimate of $14.36 billion. During the same quarter last year, the company earned $2.16 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year.

Several equities research analysts have issued reports on CAT shares. Standpoint Research upgraded Caterpillar from a “sell” rating to an “accumulate” rating and set a $117.85 price target for the company in a report on Wednesday, December 26th. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a report on Thursday, January 24th. UBS Group set a $154.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Tuesday, January 29th. Robert W. Baird set a $161.00 price objective on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Finally, Bank of America set a $152.00 price objective on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and an average target price of $146.71.

Shares of Caterpillar stock traded up $1.47 during trading hours on Thursday, hitting $143.36. The company’s stock had a trading volume of 4,504,507 shares, compared to its average volume of 3,465,650. Caterpillar has a 12 month low of $112.06 and a 12 month high of $161.60. The company has a market capitalization of $82.51 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.75 and a beta of 1.46. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.37 and a quick ratio of 0.96.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued a $0.86 dividend. The ex-dividend date is Thursday, April 18th. This represents a $3.44 dividend on an annualized basis and a yield of 2.40%. Caterpillar’s dividend payout ratio is currently 30.66%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ipswich Investment Management Co. Inc. boosted its position in Caterpillar by 0.3% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 35,714 shares of the industrial products company’s stock valued at $4,839,000 after buying an additional 90 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of Caterpillar by 1.2% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 7,328 shares of the industrial products company’s stock worth $993,000 after acquiring an additional 90 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Caterpillar by 4.3% during the 4th quarter. Rehmann Capital Advisory Group now owns 2,360 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 97 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Caterpillar by 1.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 7,174 shares of the industrial products company’s stock worth $912,000 after acquiring an additional 98 shares in the last quarter. Finally, Vectors Research Management LLC raised its stake in shares of Caterpillar by 32.1% during the 4th quarter. Vectors Research Management LLC now owns 412 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 67.07% of the company’s stock.

Caterpillar Company Profile

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

Featured Article: No Load Funds

Get a free copy of the Zacks research report on Caterpillar (CAT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.