TD Cowen Remains Positive on Caterpillar (CAT) Following 'strong results' in Earnings Report

Caterpillar (CAT) PT Raised to $338 at TD Cowen

February 6, 2024 6:12 AM EST

TD Cowen analyst Matt Elkott raised the price target on Caterpillar (NYSE: CAT) to $338.00 (from $300.00) while maintaining a Outperform rating.

The analyst comments "We're fine-tuning our '24 and '25 EPS estimates to $22.50 and $22.65, from $21.40 and $22.40, respectively. Our PT changes from $300 to... More

Morgan Stanley on Caterpillar (CAT): 'We expect a positive stock reaction'

February 5, 2024 8:07 AM EST

Morgan Stanley analyst Angel Castillo reiterated an Equalweight rating and $270.00 price target on Caterpillar (NYSE: CAT)

The analyst comments "We expect a positive stock reaction to CAT's 4Q23 EPS beat and full year 2024 outlook and commentary that was in line with consensus but better than we think investors feared. CAT reported 4Q23 adjusted EPS of $5.23 versus MSe of $4.93 and consensus estimate of $4.79. Relative to our estimates, the beat was due to stronger Energy & Transportation adjusted operating income (+$233M), partly offset by softer Construction Industries adjusted operating income (-$85M) and... More

Deutsche Bank on Caterpillar (CAT) Earnings Report: 'should bode well for share price performance today'

February 5, 2024 7:42 AM EST

Deutsche Bank analyst Nicole DeBlase reiterated a Hold rating and $259.00 price target on Caterpillar (NYSE: CAT)

The analyst comments "The 4Q23 beat was low-quality in nature (core segment results were in line with the Street), but dealer inventories came down more than expected... More

Goldman Sachs Positive on Caterpillar (CAT) Post Earnings

February 5, 2024 7:31 AM EST

Goldman Sachs analyst Jerry Revich reiterated a Buy rating and $274.00 price target on Caterpillar (NYSE: CAT).

The analyst comments "We come away from CAT 4Q results positive on structurally improving earnings power, as CAT delivered a sharp 4Q EPS beat while destocking... More

Caterpillar (CAT) stock rises 3% on earnings beat

February 5, 2024 6:46 AM EST

Caterpillar (NYSE: CAT) reported results for the fourth quarter that exceeded average analyst expectations.

The company reported an adjusted EPS of $5.23, up from $3.86 year-over-year, and above the consensus estimate of $4.76. Total revenue for the quarter was $17.07 billion, reflecting a 2.8% increase year-over-year, and somewhat around... More

Caterpillar's shares hit record high on profit beat, robust demand

February 5, 2024 6:36 AM EST

By Bianca Flowers and Shivansh Tiwary

(Reuters) -Caterpillar beat estimates with a double-digit jump in operating profit on Monday to send its shares to a record high buoyed by mining equipment sales and higher prices across its machinery divisions.

Shares for the Texas-based company were up 5%.

Spending on heavy machinery held steady among commercial clients. Dealer inventories fell for the first time in four quarters, by $900 million, in an encouraging sign that spending remains resilient helped by President Joe Biden's $1 trillion infrastructure law to upgrade roads, bridges and other transportation infrastructure.

Analysts expect... More

Caterpillar (CAT) Tops Q4 EPS by 47c

February 5, 2024 6:31 AM EST

Caterpillar (NYSE: CAT) reported Q4 EPS of $5.23, $0.47 better than the analyst estimate of $4.76. Revenue for the quarter came in at $17.1 billion versus the consensus estimate of $17.03 billion.

For earnings history and earnings-related data on Caterpillar (CAT) click here.

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Futures edge lower, more earnings ahead, Powell comments - what's moving markets

February 5, 2024 5:27 AM EST

Investing.com -- Investors await a bevy of quarterly results from big-name U.S. companies this week and assess the outlook for interest rates following strong economic data in recent days. Federal Reserve Chair Jerome Powell says the Fed will take a "prudent" approach to possible rate cuts. Boeing (NYSE: BA) flags a new issue with some of its 737 jet models, in the latest setback for the embattled planemaker.

1. Futures edge lower

U.S. stock futures inched down on Monday, as traders geared up for a wave of... More

Caterpillar (CAT) option IV elevated into quarter results as share price near record high

February 2, 2024 10:29 AM EST

Caterpillar (NYSE: CAT) February weekly call option implied volatility is at 46, February is at 38; compared to its 52-week range of 21 to 38 into the expected release of quarter results before the bell on February 5.

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Caterpillar (CAT) February weekly 307 straddle priced into quarter results

February 2, 2024 3:36 AM EST

Caterpillar (NYSE: CAT) February weekly 307 straddle priced for a move of 5.5% into the expected release of quarter results before the bell on February 5.

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Caterpillar (CAT) PT Raised to $240 at UBS

February 1, 2024 7:37 AM EST

UBS analyst Steven Fisher raised the price target on Caterpillar (NYSE: CAT) to $240.00 (from $209.00) while maintaining a Sell rating.... More