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Caterpillar (CAT) Stock Moves -1.19%: What You Should Know
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In the latest trading session, Caterpillar (CAT - Free Report) closed at $693.62, marking a -1.19% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.36%. Elsewhere, the Dow saw a downswing of 1.64%, while the tech-heavy Nasdaq depreciated by 1.46%.
Coming into today, shares of the construction equipment company had lost 8.21% in the past month. In that same time, the Industrial Products sector lost 8.71%, while the S&P 500 lost 1.76%.
The investment community will be closely monitoring the performance of Caterpillar in its forthcoming earnings report. The company's upcoming EPS is projected at $4.48, signifying a 5.41% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $16.42 billion, indicating a 15.27% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $22.71 per share and a revenue of $73.8 billion, representing changes of +19.15% and +9.19%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Caterpillar. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.22% upward. Caterpillar is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Caterpillar is at present trading with a Forward P/E ratio of 30.91. For comparison, its industry has an average Forward P/E of 16.77, which means Caterpillar is trading at a premium to the group.
One should further note that CAT currently holds a PEG ratio of 1.66. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. CAT's industry had an average PEG ratio of 1.84 as of yesterday's close.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 179, placing it within the bottom 27% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CAT in the coming trading sessions, be sure to utilize Zacks.com.
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Caterpillar (CAT) Stock Moves -1.19%: What You Should Know
In the latest trading session, Caterpillar (CAT - Free Report) closed at $693.62, marking a -1.19% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.36%. Elsewhere, the Dow saw a downswing of 1.64%, while the tech-heavy Nasdaq depreciated by 1.46%.
Coming into today, shares of the construction equipment company had lost 8.21% in the past month. In that same time, the Industrial Products sector lost 8.71%, while the S&P 500 lost 1.76%.
The investment community will be closely monitoring the performance of Caterpillar in its forthcoming earnings report. The company's upcoming EPS is projected at $4.48, signifying a 5.41% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $16.42 billion, indicating a 15.27% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $22.71 per share and a revenue of $73.8 billion, representing changes of +19.15% and +9.19%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Caterpillar. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.22% upward. Caterpillar is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Caterpillar is at present trading with a Forward P/E ratio of 30.91. For comparison, its industry has an average Forward P/E of 16.77, which means Caterpillar is trading at a premium to the group.
One should further note that CAT currently holds a PEG ratio of 1.66. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. CAT's industry had an average PEG ratio of 1.84 as of yesterday's close.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 179, placing it within the bottom 27% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CAT in the coming trading sessions, be sure to utilize Zacks.com.