FY2024 EPS Estimates for Caterpillar Cut by Zacks Research

Caterpillar Inc. (NYSE:CAT) – Equities research analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Caterpillar in a report issued on Wednesday, November 13th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $21.51 for the year, down from their previous forecast of $21.63. The consensus estimate for Caterpillar’s current full-year earnings is $21.68 per share. Zacks Research also issued estimates for Caterpillar’s Q4 2024 earnings at $4.75 EPS, Q1 2025 earnings at $4.59 EPS, Q3 2025 earnings at $5.28 EPS and Q4 2025 earnings at $5.60 EPS.

Other research analysts have also recently issued research reports about the company. Robert W. Baird boosted their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and upped their target price for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. Finally, Barclays lifted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $365.33.

Caterpillar Price Performance

Shares of NYSE CAT opened at $384.53 on Monday. The firm has a market cap of $185.65 billion, a P/E ratio of 17.81, a PEG ratio of 1.90 and a beta of 1.10. Caterpillar has a twelve month low of $241.81 and a twelve month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a 50 day moving average of $381.86 and a 200 day moving average of $354.37.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.52 earnings per share.

Hedge Funds Weigh In On Caterpillar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. bought a new stake in Caterpillar in the 2nd quarter worth approximately $28,000. Fairscale Capital LLC purchased a new stake in shares of Caterpillar during the 2nd quarter worth approximately $36,000. Capital Performance Advisors LLP bought a new position in shares of Caterpillar during the 3rd quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC grew its holdings in shares of Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the sale, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,749 shares of company stock worth $9,251,912. 0.29% of the stock is owned by company insiders.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. Caterpillar’s payout ratio is currently 26.15%.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.