Caterpillar (NYSE:CAT) Issues Earnings Results

Caterpillar (NYSE:CAT) issued its earnings results on Tuesday. The industrial products company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19, MarketWatch Earnings reports. Caterpillar had a return on equity of 30.52% and a net margin of 8.90%. The company had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.78 billion. During the same period in the prior year, the firm earned $2.66 earnings per share. Caterpillar’s revenue for the quarter was down 22.6% on a year-over-year basis.

Shares of CAT stock opened at $151.16 on Thursday. The business has a 50-day moving average of $155.81 and a 200 day moving average of $134.37. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.50 and a quick ratio of 1.05. Caterpillar has a 1-year low of $87.50 and a 1-year high of $171.26. The stock has a market capitalization of $81.85 billion, a PE ratio of 20.29, a P/E/G ratio of 2.68 and a beta of 1.05.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Monday, October 26th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, October 23rd. Caterpillar’s dividend payout ratio (DPR) is presently 37.25%.

In related news, insider Lange Bob De sold 1,575 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $147.00, for a total transaction of $231,525.00. Following the completion of the sale, the insider now directly owns 30,798 shares in the company, valued at approximately $4,527,306. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by insiders.

A number of brokerages have commented on CAT. Credit Suisse Group boosted their price objective on Caterpillar from $159.00 to $179.00 and gave the stock an “outperform” rating in a report on Friday, October 16th. Langenberg & Company cut Caterpillar from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley lifted their price objective on shares of Caterpillar from $120.00 to $122.00 and gave the stock an “underweight” rating in a report on Wednesday. Bank of America upgraded shares of Caterpillar from an “underperform” rating to a “neutral” rating and set a $135.00 target price for the company in a report on Wednesday, July 8th. Finally, Stifel Nicolaus boosted their price target on shares of Caterpillar from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. Caterpillar presently has a consensus rating of “Hold” and an average price target of $148.11.

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.

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Earnings History for Caterpillar (NYSE:CAT)

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