CAT1.DE - Caterpillar Inc.

XETRA - XETRA Delayed Price. Currency in EUR
+1.20 (+1.16%)
At close: 5:35PM CEST
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Previous Close104.02
Bid104.96 x 0
Ask105.10 x 0
Day's Range104.60 - 104.98
52 Week Range98.56 - 137.20
Avg. Volume536
Market Cap58.871B
Beta (3Y Monthly)0.89
PE Ratio (TTM)9.76
EPS (TTM)10.75
Earnings DateN/A
Forward Dividend & Yield3.68 (3.54%)
Ex-Dividend Date2019-07-19
1y Target EstN/A
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  • CSX Stock Is a Good Play — But Is It the Best One?

    CSX Stock Is a Good Play — But Is It the Best One?

    There's not a lot of mystery at the moment when it comes to railroad operator CSX Corporation (NASDAQ:CSX). CSX news of late has been disappointing, thanks to a soft second-quarter earnings report. That report has pulled the CSX stock price down more than 10% -- and trade worries have kept the pressure on.Source: Shutterstock CSX unquestionably is a solid company -- and, at the moment, the premier railroad operator in North America. That alone creates a strong "buy the dip" argument with the CSX stock price now down 17% from its highs.But there are two key questions here. The first is whether even a 17% pullback is enough given factors outside of CSX's control. The second is whether the "buy the dip" case for CSX stock applies just as well to other, cheaper cyclical plays.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Safe Dividend Stocks for Investors to Buy Right Now From here, the answers to those questions are somewhat of a split decision. I'd wager the CSX stock price will start climbing again. But I'd bet, too, that other stocks -- maybe even some in the railroad industry -- will do better. CSX News Doesn't Change the Long-Term CaseShort-term weakness aside, CSX still has been a star performer. The CSX stock price has almost doubled since the 2016 United States presidential election. Even after the selloff, it has seen the biggest gains of the seven major railroad stocks that comprise the Dow Jones Railroads Index. The 132% increase dwarfs the 104% gains at second-place Norfolk Southern (NYSE:NSC).The company has been excellent at controlling expenses. Its 2018 operating ratio -- operating expenses divided by revenues -- was the lowest in that index, at 60.3%. The two Canadian operators, Canadian National Railway (NYSE:CNI) and Canadian Pacific Railway (NYSE:CP), come in next -- at a full point higher.To top it off, after the disappointing CSX news, the stock now is the cheapest of the group. The forward price-to-earnings ratio sits at 14.5x, slightly lower than NSC. It's possible that multiple will rise -- some analysts may still lower 2020 earnings estimates -- but at the least, CSX is valued in line with the peers it's currently outperforming.Given all these positive factors, the selloff looks like an opportunity. And it's not as if the Q2 earnings report was truly that bad. The company did cut full-year revenue guidance, but it left itself room to outperform if second-half demand strengthens. Operating income still increased 2% year-over-year. This wasn't a disaster, but some investors seemed to treat it as such. The Concerns Going ForwardThe performance of CSX stock so far raises one key and seemingly counterintuitive concern. There simply may not be much room left for improvement.Again, CSX's operating ratio is a full point better than that of every other major railroad play. It's three points better than that of Kansas City Southern (NYSE:KSU), and a full five ahead of Norfolk Southern. Is CSX that much better than the rest of its sector? Or is there more room for rivals to catch up -- and drive earnings growth in the process?That concern becomes more important amid the current cyclical fears. Operating expenses for railroads, like those of any business, can be leveraged by revenue growth. But CSX isn't seeing revenue growth coming in the second half of the year. The obvious worry is that declines may continue if the macroeconomic environment in the U.S. weakens. CSX stock already has a headwind from coal shipments, which may not come back. Its CEO, on the Q2 conference call, called the macro picture "puzzling."If the economy turns, revenue growth may head south for more than just a couple of quarters. And it may be CSX whose growth and share price lags, as rivals find more room to cut costs in the new environment. Is CSX Stock the Best Play?Those concerns are real. But at 14x-15x forward earnings, they look priced in. At this point, the declines do seem like they've gone too far.But, again, the other important question is whether CSX stock is the best play. And that's a tougher case to make. Cyclical stocks across the board generally have struggled since the beginning of last year, even though many have rallied somewhat so far this year. And many are downright cheap.Caterpillar (NYSE:CAT), for instance, trades at 10x forward earnings. Many other stocks in industries like construction, boating and automobiles look even cheaper. The risks in those sectors are higher -- but so are the rewards. If an investor has the stomach to make a contrarian bet against the current macro worries, there are options that go beyond CSX and beyond railroads.So from here, the case for CSX stock looks solid but also a bit narrow. It's for investors who are willing to take on cyclical risk -- but only a little. Long-term, the selloff is an opportunity. But the same factors that drove the selloff could open up intriguing opportunities elsewhere.As of this writing, Vince Martin did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Real Estate Investments to Ride Out the Current Storm * 7 Marijuana Penny Stocks to Consider for Those Who Can Handle Risk * 7 Safe Dividend Stocks for Investors to Buy Right Now The post CSX Stock Is a Good Play -- But Is It the Best One? appeared first on InvestorPlace.

  • Tariff Delays Could Brighten Caterpillar's Outlook

    Tariff Delays Could Brighten Caterpillar's Outlook

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  • What Kind Of Shareholders Own Caterpillar Inc. (NYSE:CAT)?
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  • Benzinga

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    The SPDR S&P 500 ETF Trust (NYSE: SPY) is down more than 2% so far in the month of August after President Donald Trump threatened to impose new 10% tariffs on $300 billion worth of Chinese imports not already covered under the existing tariffs. Trump again took to Twitter on Thursday morning, blaming the Federal Reserve for what he says is an unfair competitive landscape for U.S. businesses. Despite the Federal Reserve cutting interest rates by 0.25% on July 31, Trump said Thursday American companies like Caterpillar Inc. (NYSE: CAT), Boeing Co (NYSE: BA) and Deere & Company (NYSE: DE) can’t compete internationally when the Federal Reserve is keeping interest rates and the value of the dollar high.


    Sell Caterpillar Stock Because the Industrial Economy Is Slowing, Goldman Sachs Says

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  • MarketWatch

    Caterpillar downgraded, price target slashed at Goldman Sachs

    Shares of Caterpillar Inc. edged up 0.4% in morning trading Thursday, but was still down 7.9% this month, after Goldman Sachs backed away from its 3-year long bullish stance on the machinery maker, citing concerns over lower resources demand and over-supply in the construction business. Analyst Jerry Revich cut his rating to neutral, after being at buy since October 2016, and cut his stock price target to $130 from $156. "First, [Caterpillar's] resource order recovery has slowed significantly earlier than in prior cycles, with segment revenue and orders stabilizing at $11 billion run-rate this year, about 50% below the prior peak of $21 billion," Revich wrote in a note to clients. "Second, after CAT had significantly reduced dealer inventories--particularly in construction industries--at the trough of the cycle, we were surprised to see the company build North America construction industries dealer inventories in the beginning of the North America construction season this year." The stock has shed 4.5% year to date, while the Dow Jones Industrial Average has gained 0.8%.


    Caterpillar Rises Despite Goldman Sachs Downgrade to Neutral

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  • Thomson Reuters StreetEvents

    Edited Transcript of CAT earnings conference call or presentation 24-Jul-19 3:00pm GMT

    Q2 2019 Caterpillar Inc Earnings Call

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