|Bid||154.31 x 1100|
|Ask||154.36 x 800|
|Day's Range||149.64 - 155.30|
|52 Week Range||87.50 - 171.26|
|Beta (5Y Monthly)||1.03|
|PE Ratio (TTM)||25.74|
|Forward Dividend & Yield||4.12 (2.73%)|
|Ex-Dividend Date||Oct 23, 2020|
|1y Target Est||N/A|
There's been a notable change in appetite for Caterpillar Inc. (NYSE:CAT) shares in the week since its quarterly...
Caterpillar Inc. (NYSE: CAT) reported mixed results for the third quarter and faced some impediments that could limit its leverage when the economy improves, according to BofA Securities.The Caterpillar Analyst: Ross Gilardi maintained a Neutral rating for Caterpillar while reducing its price target from $171 to $168.The Caterpillar Thesis: Although the company reported operating results higher than the consensus estimate, the consensus figure was conservative, and it was evident that the market expected more, Gilardi said.He added that the stock tumbled 3% after Caterpillar released its third-quarter results.While Caterpillar's earnings could recover with the global economy and it is witnessing "pockets of improvement," its end market exposure, elevated internal inventories, and the downturn in R&D could prove to be obstacles "that can limit CAT's leverage to the upcycle," the analyst wrote in a note."High margin business lines (turbines, NA non-res, oil & gas) could remain soft," he added.Gilardi reduced the earnings estimates for 2020, 2021 and 2022 from $5.50 per share to $5.35 per share, from $7.00 per share to $6.85 per share and from $9.00 per share to $8.85 per share, respectively.CAT Price Action: Shares of Caterpillar slipped 4.2% to $151.16 on Wednesday.Latest Ratings for CAT DateFirmActionFromTo Oct 2020StifelMaintainsBuy Oct 2020Morgan StanleyMaintainsUnderweight Oct 2020Wells FargoUpgradesEqual-WeightOverweight View More Analyst Ratings for CAT View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Wells Fargo Upgrades Caterpillar On Upside In Key Markets(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Jim Cramer shares stock market news discussed buying Eli Lilly and Estee Lauder stocks, and Caterpillar's role as a recovery stock.