Caterpillar Inc. (CAT - Free Report) is one of the well-known names in the construction and mining machinery industry with a market capitalization of $50.24 billion. It is a leading exporter in the U.S. with more than half of its sales being generated outside the country.
Ahead of its third quarter earnings release, Caterpillar reported an 18% decline in its global retail sales for the three months ended Sep 2016, following 17% dip in August and 19% decline in July. So far this year, Caterpillar’s monthly sales have posted an average fall of 15.4%. Demand for heavy machinery remained sluggish in all of its core markets amid a slowdown in construction and mining activity. This does not bode well for its third quarter 2016 performance.
This does not come as surprise as Caterpillar’s results for the past few quarters have borne the brunt of a weak mining industry, low oil prices, stronger U.S. dollar and China's economic woes. Continued weakness in agriculture have also negatively impacted sales. It remains to be seen whether improvement in construction and cost reduction can provide some respite to this ailing mining and equipment behemoth.
Investors are thus awaiting Caterpillar’s results as it has long been considered a bellwether of national and global economic strength. Let’s have a quick look at the third quarter release of this Peoria, Illinois-based construction and mining equipment manufacturer.
Estimate Trend & Surprise History
Investors should note that over a 60 days timeframe, the Zacks Consensus Estimate for the third quarter has moved north for Caterpillar. Caterpillar has beaten the Zacks Consensus Estimate in all of the last four quarters with an average positive surprise of 5.20%.
CATERPILLAR INC Price and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Caterpillar Inc. (CAT - Free Report) is one of the well-known names in the construction and mining machinery industry with a market capitalization of $50.24 billion. It is a leading exporter in the U.S. with more than half of its sales being generated outside the country.
Ahead of its third quarter earnings release, Caterpillar reported an 18% decline in its global retail sales for the three months ended Sep 2016, following 17% dip in August and 19% decline in July. So far this year, Caterpillar’s monthly sales have posted an average fall of 15.4%. Demand for heavy machinery remained sluggish in all of its core markets amid a slowdown in construction and mining activity. This does not bode well for its third quarter 2016 performance.
This does not come as surprise as Caterpillar’s results for the past few quarters have borne the brunt of a weak mining industry, low oil prices, stronger U.S. dollar and China's economic woes. Continued weakness in agriculture have also negatively impacted sales. It remains to be seen whether improvement in construction and cost reduction can provide some respite to this ailing mining and equipment behemoth.
Investors are thus awaiting Caterpillar’s results as it has long been considered a bellwether of national and global economic strength. Let’s have a quick look at the third quarter release of this Peoria, Illinois-based construction and mining equipment manufacturer.
Estimate Trend & Surprise History
Investors should note that over a 60 days timeframe, the Zacks Consensus Estimate for the third quarter has moved north for Caterpillar. Caterpillar has beaten the Zacks Consensus Estimate in all of the last four quarters with an average positive surprise of 5.20%.
CATERPILLAR INC Price and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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