Caterpillar Inc. (NYSE:CAT) shares, rose in value, with the stock price up by 2.57% to the previous day’s close as strong demand from buyers drove the stock to $379.30.
Actively observing the price movement in the last trading, the stock closed the session at $369.79. The value of beta (5-year monthly) was 1.15 whereas the PE ratio was 18.83 over 12-month period. Referring to stock’s 52-week performance, its high was $381.03, and the low was $204.04. On the whole, CAT has fluctuated by 13.01% over the past month.
With the market capitalization of Caterpillar Inc. currently standing at about $189.41 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 25, 2024 – Apr 29, 2024. The company’s Forward Dividend Ratio is 5.10, with its dividend yield at 1.34%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $5.08, which is expected to increase to $6.09 for fiscal year $21.27 and then to about $22.42 by fiscal year 2025. Data indicates that the EPS growth is expected to be 0.30% in 2025, while the next year’s EPS growth is forecast to be 5.40%.
Analysts have estimated the company’s revenue for the quarter at $16.02 billion, with a low estimate of $15.22 billion and a high estimate of $16.79 billion. According to the average forecast, sales growth in current quarter could jump up 5.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $67.25 billion, representing an increase of 0.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CAT’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.49, with the price of CAT currently trading nearly 7.08% and 13.92% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 73.19, while the 7-day volatility ratio is showing 2.27% which for the 30-day chart, stands at 1.87%. Furthermore, Caterpillar Inc. (CAT)’s beta value is 1.16, and its average true range (ATR) is 7.10.
A comparison of Caterpillar Inc. (CAT) with its peers suggests the former has fared considerably weaker in the market. CAT showed an intraday change of 2.57% in last session, and over the past year, it grew by 74.43%%.
Data on historical trading for Caterpillar Inc. (NYSE:CAT) indicates that the trading volumes over the past 10 days have averaged 2.14 million and over the past 3 months, they’ve averaged 2.44 million. According to company’s latest data on outstanding shares, there are 499.38 million shares outstanding.
Nearly 0.20% of Caterpillar Inc.’s shares belong to company insiders and institutional investors own 72.44% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 14.44 million shares as on Mar 15, 2024, resulting in a short ratio of 7.04. According to the data, the short interest in Caterpillar Inc. (CAT) stood at 2.89% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 15.39 million. The stock has risen by 28.28% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CAT stock heading into the next quarter.
