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Is Caterpillar (CAT) a Buy Ahead of Q3 Earnings Announcement?
Industrial giant Caterpillar (CAT - Free Report) is set to report third-quarter earnings results on Wednesday before the opening bell. The largest construction and mining equipment manufacturer in the world, Caterpillar has exceeded the earnings mark in each of the last six quarters. But with the stock trading near all-time highs, is CAT a buy?
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Caterpillar is expected to deliver a third-quarter profit of $5.33/share, which would reflect negative growth of -3.44% versus the same quarter last year. Earnings estimates for the quarter have declined slightly in the past 60 days. Revenues are projected to have slipped -2.73% to $16.35 billion.
A Zacks Rank #3 (Hold) stock, CAT has posted a trailing four-quarter average earnings surprise of 10.95%. Yet even with the favorable statistic, our Zacks proprietary methodology does not conclusively predict a Q3 earnings beat. Investors should proceed with caution heading into the announcement.