Zacks: Brokerages Expect Caterpillar Inc. (NYSE:CAT) Will Announce Quarterly Sales of $14.34 Billion

Analysts expect that Caterpillar Inc. (NYSE:CATGet Rating) will post $14.34 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Caterpillar’s earnings, with the highest sales estimate coming in at $14.72 billion and the lowest estimate coming in at $13.90 billion. Caterpillar reported sales of $12.89 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.2%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Caterpillar will report full-year sales of $57.36 billion for the current financial year, with estimates ranging from $56.23 billion to $58.62 billion. For the next fiscal year, analysts expect that the company will post sales of $62.91 billion, with estimates ranging from $58.81 billion to $65.89 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Caterpillar.

Caterpillar (NYSE:CATGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.28. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.49 billion. During the same period last year, the business posted $2.87 earnings per share. The firm’s revenue was up 14.4% compared to the same quarter last year.

A number of research firms have recently issued reports on CAT. StockNews.com initiated coverage on shares of Caterpillar in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Tigress Financial boosted their price objective on shares of Caterpillar from $278.00 to $282.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company began coverage on shares of Caterpillar in a research report on Friday, March 11th. They issued an “equal weight” rating and a $231.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Caterpillar from $250.00 to $240.00 in a report on Friday, April 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $241.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, March 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $243.88.

In other news, Director David Maclennan bought 600 shares of the firm’s stock in a transaction on Thursday, May 5th. The stock was acquired at an average price of $219.82 per share, with a total value of $131,892.00. Following the transaction, the director now owns 2,480 shares of the company’s stock, valued at approximately $545,153.60. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Suzette M. Long sold 40,356 shares of Caterpillar stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $220.00, for a total value of $8,878,320.00. The disclosure for this sale can be found here. Insiders sold a total of 49,176 shares of company stock valued at $10,951,020 in the last three months. 0.18% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Crewe Advisors LLC increased its position in Caterpillar by 322.6% in the fourth quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Nauset Wealth Management. LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth approximately $29,000. SkyView Investment Advisors LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at approximately $31,000. Arcadia Investment Management Corp MI purchased a new position in Caterpillar in the 1st quarter valued at $33,000. Finally, Sierra Capital LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth $38,000. 67.44% of the stock is currently owned by institutional investors.

CAT traded up $6.87 during midday trading on Friday, reaching $204.69. 89,545 shares of the company’s stock were exchanged, compared to its average volume of 3,703,195. The firm has a market capitalization of $109.17 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.37 and a beta of 0.94. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.48. Caterpillar has a one year low of $179.67 and a one year high of $246.69. The business has a 50-day simple moving average of $217.09 and a two-hundred day simple moving average of $209.44.

The company also recently declared a quarterly dividend, which was paid on Friday, May 20th. Stockholders of record on Monday, April 25th were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, April 22nd. Caterpillar’s dividend payout ratio (DPR) is 37.22%.

Caterpillar Company Profile (Get Rating)

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

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Earnings History and Estimates for Caterpillar (NYSE:CAT)

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