Cat Financial Announces First-Quarter 2016 Results
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April 25, 2016 9:58 AM EDT
UBS reiterated a Neutral rating on Caterpillar (NYSE: CAT), and raised the price target to $76.00 (from $61.00), following the company's 1Q earnings report. Pricing was a 1.8% headwind in 1Q16, which accelerated from the -0.9% realized in 4Q15 and is the weakest since at least 2003. Chinese... More
April 25, 2016 6:33 AM EDT
(Updated - April 25, 2016 8:57 AM EDT)
Goldman Sachs raised its Machinery coverage view from Cautious to Neutral and upgraded Caterpillar (NYSE: CAT) and Joy Global (NYSE: JOY) from Sell to Neutral. Analyst Jerry Revich noted signs of a broadening China recovery, though he still sees machinery oversupply in many regions of the... More
April 22, 2016 7:32 AM EDT
Caterpillar (NYSE: CAT) reported Q1 EPS of $0.67, $0.01 worse than the analyst estimate of $0.68. Revenue for the quarter came in at $9.46 billion versus the consensus estimate of $9.39 billion.
At the end of the first quarter of 2016, the order backlog was $13.1 billion, about the same in total and by segment as the end of 2015. Compared to the first quarter of 2015, the order backlog declined about $3.5 billion with decreases in all segments.
2016 Outlook
We have seen recent increases in commodity prices, some signs of improvement in construction equipment in China and... More
