Caterpillar FY2024 EPS Estimate Lowered by Zacks Research

Caterpillar Inc. (NYSE:CAT) – Analysts at Zacks Research decreased their FY2024 earnings estimates for shares of Caterpillar in a report issued on Wednesday, November 13th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $21.51 for the year, down from their previous estimate 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.

A number of other equities analysts have also weighed in on the company. Bank of America increased their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Truist Financial raised their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus target price of $365.33.

Caterpillar Stock Performance

CAT opened at $384.07 on Monday. The business has a fifty day simple moving average of $381.86 and a 200-day simple moving average of $354.20. The firm has a market cap of $185.43 billion, a PE ratio of 17.81, a P/E/G ratio of 1.90 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar has a fifty-two week low of $241.81 and a fifty-two week high of $418.50.

Caterpillar (NYSE:CAT) last issued its earnings results 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 business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.52 earnings per share.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.47%. Caterpillar’s payout ratio is 26.15%.

Insider Buying and Selling

In related news, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the transaction, the director now directly owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. This trade represents a 20.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 8.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,749 shares of company stock worth $9,251,912. Insiders own 0.29% of the company’s stock.

Institutional Trading of Caterpillar

Large investors have recently modified their holdings of the company. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar in the second quarter valued at approximately $28,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar in the second quarter worth $36,000. Capital Performance Advisors LLP acquired a new position in Caterpillar during the 3rd quarter valued at $36,000. Finally, POM Investment Strategies LLC boosted its holdings in Caterpillar by 2,160.0% in the 2nd 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 during the period. 70.98% of the stock is owned by institutional investors.

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.