Caterpillar, Inc. (NYSE:CAT) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.90 for the period, compared to the Thomson Reuters consensus estimate of $3.07. The company issued revenue guidance of $36-39 billion, compared to the consensus revenue estimate of $38.30 billion.
A number of research firms have weighed in on CAT. Credit Suisse Group cut shares of Caterpillar to a buy rating in a report on Friday. Jefferies Group LLC reaffirmed a hold rating on shares of Caterpillar in a report on Friday. RBC Capital Markets reaffirmed a hold rating and issued a $85.00 price objective (up previously from $82.00) on shares of Caterpillar in a report on Friday. Royal Bank Of Canada lifted their price objective on shares of Caterpillar from $82.00 to $85.00 and gave the company a sector perform rating in a report on Friday. Finally, Wells Fargo & Company raised shares of Caterpillar from a market perform rating to an outperform rating and set a $118.00 price objective for the company in a report on Friday. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. The company has an average rating of Hold and an average target price of $85.79.
Shares of Caterpillar, Inc. (NYSE:CAT) opened at 98.99 on Monday. The company’s 50-day moving average is $94.34 and its 200 day moving average is $87.72. Caterpillar, Inc. has a 52 week low of $59.80 and a 52 week high of $99.46. The stock’s market capitalization is $57.99 billion.
Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 26th. The company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.17. Caterpillar had a negative net margin of 0.17% and a positive return on equity of 12.92%. The firm earned $9.57 billion during the quarter, compared to the consensus estimate of $9.87 billion. During the same period last year, the firm posted $0.74 EPS. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. On average, equities analysts forecast that Caterpillar, Inc. will post $3.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, February 18th. Shareholders of record on Friday, January 20th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, January 18th. This represents a $3.08 annualized dividend and a dividend yield of 3.11%. Caterpillar’s dividend payout ratio is currently -2,369.23%.
In other Caterpillar news, Director Daniel M. Dickinson sold 950 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $93.52, for a total transaction of $88,844.00. Following the sale, the director now directly owns 17,476 shares of the company’s stock, valued at approximately $1,634,355.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in Caterpillar by 1.0% in the third quarter. Mackenzie Financial Corp now owns 5,834 shares of the company’s stock valued at $518,000 after buying an additional 60 shares in the last quarter. Southeast Asset Advisors Inc. boosted its stake in Caterpillar by 2.0% in the second quarter. Southeast Asset Advisors Inc. now owns 3,791 shares of the company’s stock valued at $287,000 after buying an additional 74 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Caterpillar by 0.8% in the second quarter. Westwood Holdings Group Inc. now owns 17,173 shares of the company’s stock valued at $1,302,000 after buying an additional 136 shares in the last quarter. King Luther Capital Management Corp boosted its stake in Caterpillar by 1.6% in the second quarter. King Luther Capital Management Corp now owns 8,834 shares of the company’s stock valued at $670,000 after buying an additional 142 shares in the last quarter. Finally, MCF Advisors LLC boosted its stake in Caterpillar by 8.1% in the second quarter. MCF Advisors LLC now owns 3,077 shares of the company’s stock valued at $233,000 after buying an additional 231 shares in the last quarter. 70.91% of the stock is currently owned by institutional investors.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.