Caterpillar Inc. (NYSE:CAT) to Post Q1 2024 Earnings of $5.10 Per Share, Zacks Research Forecasts

Caterpillar Inc. (NYSE:CAT) – Equities research analysts at Zacks Research upped their Q1 2024 earnings per share (EPS) estimates for Caterpillar in a note issued to investors on Wednesday, April 17th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings per share of $5.10 for the quarter, up from their previous forecast of $5.00. The consensus estimate for Caterpillar’s current full-year earnings is $21.40 per share. Zacks Research also issued estimates for Caterpillar’s Q2 2024 earnings at $5.41 EPS, Q3 2024 earnings at $5.29 EPS, Q4 2024 earnings at $5.21 EPS, FY2024 earnings at $21.01 EPS, Q1 2025 earnings at $5.14 EPS, Q2 2025 earnings at $5.80 EPS, Q3 2025 earnings at $5.83 EPS, Q4 2025 earnings at $5.53 EPS, FY2025 earnings at $22.31 EPS, Q1 2026 earnings at $5.26 EPS and FY2026 earnings at $22.71 EPS.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping the consensus estimate of $4.76 by $0.47. The company had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.86 EPS.

Several other research analysts have also issued reports on CAT. TD Cowen increased their price target on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. The Goldman Sachs Group increased their target price on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup boosted their price target on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Evercore ISI lowered shares of Caterpillar from an “outperform” rating to an “in-line” rating and raised their price objective for the company from $321.00 to $338.00 in a research note on Tuesday, February 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $307.56.

Caterpillar Price Performance

Shares of NYSE CAT opened at $354.68 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm’s 50-day moving average price is $346.70 and its 200-day moving average price is $297.78. The firm has a market capitalization of $177.13 billion, a P/E ratio of 17.61, a P/E/G ratio of 1.59 and a beta of 1.17. Caterpillar has a 1-year low of $204.04 and a 1-year high of $382.01.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio is presently 25.82%.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the transaction, the insider now owns 23,474 shares in the company, valued at $7,741,725.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares in the company, valued at $7,741,725.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Maclennan bought 350 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was purchased at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the transaction, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. Insiders have sold 45,769 shares of company stock worth $14,509,306 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Caterpillar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAT. Thompson Investment Management Inc. purchased a new position in Caterpillar in the 1st quarter valued at approximately $27,000. Aspect Partners LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at $25,000. Partnership Wealth Management LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at $26,000. Richardson Financial Services Inc. purchased a new stake in Caterpillar during the 4th quarter worth about $27,000. Finally, Vima LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at about $30,000. Institutional investors own 70.98% of the company’s stock.

About Caterpillar

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.