Caterpillar Inc. (CAT) Expected to Announce Quarterly Sales of $13.21 Billion

Analysts predict that Caterpillar Inc. (NYSE:CAT) will post sales of $13.21 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Caterpillar’s earnings. The highest sales estimate is $13.65 billion and the lowest is $12.46 billion. Caterpillar reported sales of $11.41 billion in the same quarter last year, which would suggest a positive year over year growth rate of 15.8%. The firm is expected to issue its next earnings report before the market opens on Tuesday, October 23rd.

On average, analysts expect that Caterpillar will report full-year sales of $54.59 billion for the current financial year, with estimates ranging from $52.52 billion to $55.67 billion. For the next year, analysts expect that the firm will report sales of $59.61 billion, with estimates ranging from $56.50 billion to $61.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Caterpillar.

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

Several brokerages have issued reports on CAT. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $163.00 price objective for the company in a research report on Tuesday. William Blair reiterated a “hold” rating on shares of Caterpillar in a research report on Monday, July 30th. BMO Capital Markets cut their price objective on Caterpillar from $195.00 to $185.00 and set an “outperform” rating for the company in a research report on Tuesday, July 31st. They noted that the move was a valuation call. Robert W. Baird set a $155.00 price objective on Caterpillar and gave the company a “hold” rating in a research report on Tuesday, July 31st. Finally, Barclays downgraded Caterpillar from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $170.00 to $155.00 in a research report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $171.44.

CAT stock traded down $1.98 during trading on Friday, hitting $141.73. The company had a trading volume of 230,412 shares, compared to its average volume of 5,122,624. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.37 and a quick ratio of 0.97. Caterpillar has a fifty-two week low of $129.40 and a fifty-two week high of $173.24. The firm has a market cap of $90.63 billion, a price-to-earnings ratio of 20.75, a P/E/G ratio of 0.84 and a beta of 1.37.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd will be given a dividend of $0.86 per share. The ex-dividend date is Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.43%. Caterpillar’s payout ratio is currently 50.00%.

In related news, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the sale, the insider now owns 22,826 shares in the company, valued at $3,519,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.36% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. Acropolis Investment Management LLC acquired a new position in Caterpillar in the third quarter valued at about $100,000. Sound Income Strategies LLC boosted its position in shares of Caterpillar by 181.8% during the third quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock worth $101,000 after buying an additional 429 shares during the period. Avestar Capital LLC boosted its position in shares of Caterpillar by 92.3% during the second quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock worth $109,000 after buying an additional 477 shares during the period. Landaas & Co. WI ADV acquired a new position in shares of Caterpillar during the second quarter worth about $130,000. Finally, Front Row Advisors LLC boosted its position in shares of Caterpillar by 125.0% during the first quarter. Front Row Advisors LLC now owns 900 shares of the industrial products company’s stock worth $133,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 66.63% of the company’s stock.

About Caterpillar

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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