Jefferies Group Weighs in on Caterpillar, Inc.’s Q1 2017 Earnings (CAT)

Jefferies Group Weighs in on Caterpillar, Inc.’s Q1 2017 Earnings (CAT)

Caterpillar, Inc. (NYSE:CAT) – Jefferies Group decreased their Q1 2017 earnings per share (EPS) estimates for shares of Caterpillar in a report released on Thursday. Jefferies Group analyst S. Volkmann now anticipates that the firm will post earnings of $0.55 per share for the quarter, down from their prior forecast of $0.60. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Caterpillar’s Q2 2017 earnings at $0.80 EPS, Q3 2017 earnings at $0.70 EPS, Q4 2017 earnings at $0.80 EPS, FY2017 earnings at $2.85 EPS and FY2018 earnings at $3.80 EPS.

A number of other equities research analysts also recently issued reports on CAT. Standpoint Research downgraded shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays PLC increased their price objective on shares of Caterpillar from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday. Wells Fargo & Company upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $118.00 price objective on the stock in a research note on Friday. Royal Bank Of Canada increased their price objective on shares of Caterpillar from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Credit Suisse Group downgraded shares of Caterpillar to a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. Caterpillar has an average rating of “Hold” and an average target price of $85.79.

Shares of Caterpillar (NYSE:CAT) opened at 98.99 on Monday. Caterpillar has a 1-year low of $59.80 and a 1-year high of $99.46. The company’s market capitalization is $57.99 billion. The company’s 50 day moving average is $94.34 and its 200-day moving average is $87.72.

A number of institutional investors have recently bought and sold shares of the company. Patten Group Inc. increased its position in Caterpillar by 0.4% in the third quarter. Patten Group Inc. now owns 1,148 shares of the company’s stock worth $100,000 after buying an additional 5 shares in the last quarter. American Money Management LLC increased its position in Caterpillar by 0.3% in the second quarter. American Money Management LLC now owns 3,838 shares of the company’s stock worth $291,000 after buying an additional 11 shares in the last quarter. Steinberg Global Asset Management increased its position in Caterpillar by 0.5% in the third quarter. Steinberg Global Asset Management now owns 3,042 shares of the company’s stock worth $270,000 after buying an additional 15 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Caterpillar by 1.3% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,533 shares of the company’s stock worth $135,000 after buying an additional 20 shares in the last quarter. Finally, Parsec Financial Management Inc. increased its position in Caterpillar by 0.6% in the third quarter. Parsec Financial Management Inc. now owns 3,898 shares of the company’s stock worth $346,000 after buying an additional 23 shares in the last quarter. 70.91% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Daniel M. Dickinson sold 950 shares of Caterpillar stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $93.52, for a total value of $88,844.00. Following the completion of the sale, the director now owns 17,476 shares of the company’s stock, valued at approximately $1,634,355.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 18th. Investors of record on Friday, January 20th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Wednesday, January 18th. Caterpillar’s payout ratio is currently -2,369.23%.

Caterpillar Company Profile

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.

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