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Caterpillar (CAT) Stock Moves -0.7%: What You Should Know
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The most recent trading session ended with Caterpillar (CAT - Free Report) standing at $385.73, reflecting a -0.7% shift from the previouse trading day's closing. This change was narrower than the S&P 500's 0.92% loss on the day. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, lost 1.6%.
Coming into today, shares of the construction equipment company had gained 0.66% in the past month. In that same time, the Industrial Products sector lost 1.22%, while the S&P 500 gained 2.68%.
The investment community will be closely monitoring the performance of Caterpillar in its forthcoming earnings report. The company is scheduled to release its earnings on October 30, 2024. The company is predicted to post an EPS of $5.33, indicating a 3.44% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $16.35 billion, indicating a 2.73% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $21.88 per share and revenue of $65.56 billion. These totals would mark changes of +3.16% and -2.24%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Caterpillar. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Caterpillar is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Caterpillar has a Forward P/E ratio of 17.76 right now. Its industry sports an average Forward P/E of 9.76, so one might conclude that Caterpillar is trading at a premium comparatively.
It is also worth noting that CAT currently has a PEG ratio of 1.9. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Manufacturing - Construction and Mining industry currently had an average PEG ratio of 6.77 as of yesterday's close.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 165, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Caterpillar (CAT) Stock Moves -0.7%: What You Should Know
The most recent trading session ended with Caterpillar (CAT - Free Report) standing at $385.73, reflecting a -0.7% shift from the previouse trading day's closing. This change was narrower than the S&P 500's 0.92% loss on the day. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, lost 1.6%.
Coming into today, shares of the construction equipment company had gained 0.66% in the past month. In that same time, the Industrial Products sector lost 1.22%, while the S&P 500 gained 2.68%.
The investment community will be closely monitoring the performance of Caterpillar in its forthcoming earnings report. The company is scheduled to release its earnings on October 30, 2024. The company is predicted to post an EPS of $5.33, indicating a 3.44% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $16.35 billion, indicating a 2.73% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $21.88 per share and revenue of $65.56 billion. These totals would mark changes of +3.16% and -2.24%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Caterpillar. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Caterpillar is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Caterpillar has a Forward P/E ratio of 17.76 right now. Its industry sports an average Forward P/E of 9.76, so one might conclude that Caterpillar is trading at a premium comparatively.
It is also worth noting that CAT currently has a PEG ratio of 1.9. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Manufacturing - Construction and Mining industry currently had an average PEG ratio of 6.77 as of yesterday's close.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 165, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.