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Published: Sat, April 29, 2017
Economy | By Melissa Porter

Investors Applaud Caterpillar Inc. (NYSE:CAT)'s Earnings Beat And Upbeat Forecast

Investors Applaud Caterpillar Inc. (NYSE:CAT)'s Earnings Beat And Upbeat Forecast

The increase in revenues was due to a $24 million favorable impact from higher average financing rates and a $12 million favorable impact from miscellaneous revenue items, partially offset by a $17 million unfavorable impact from lower average earning assets. Volatility for the week appears to be 1.80% in conjunction with the Volatility for the month at 1.76%. Credit Suisse Group AG set a $111.00 price objective on Caterpillar and gave the stock a "buy" rating in a report on Saturday, February 18th. The RSI oscillates between zero and 100.

At the end of the first quarter, Caterpillar's order backlog totaled about $14.8 billion. CAT has a beta of 1.28 and RSI is 60.08.

Wells Fargo Securities analyst Andrew Casey said investors should take "comfort" that Caterpillar's backlog expansion - up 22 percent - shows it has some sustainability.

Trading volume is a hugely important consideration for any investor. Different analysts and financial institutions use various valuation methods and consider different economic forces when deciding on a price target. The stock has a consensus rating of "Hold" and a consensus price target of $93.22.

Earnings per share (EPS) is the portion of a company's profit allocated to each outstanding share of common stock. The FactSet consensus was for earnings per share of 63 cents. Consensus earnings estimates are far from flawless, but they are watched by many investors and play an important role in measuring the appropriate valuation for a stock. For the week, the stock is performing 3.69%. During the same quarter a year ago, the firm earned $0.74 earnings per share. Analysts have a mean recommendation of 2.60 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).

Cambridge Advisors Inc sold 3,591 shares as Caterpillar Inc Del (CAT)'s stock rose 16.12%.

On a GAAP basis, Caterpillar posted net profit of $192 million in the first quarter, including a $752 restructuring charge related to the closure of the company's plant in Belgium.

The company, as part of its first-quarter earnings report, said it expects revenue of $38 billion to $41 billion. The heavy equipment firm posted adjusted diluted earnings per share (EPS) of $1.28 on revenues of $9.82 billion.

The company also beat on revenue, generating $9.8 billion against expectations of $9.4 billion. Additionally, CAT had a day price range of $95.8 to $97.06. The stock appeared -11.56% below its 52-week highs and is up 1.08% for the last five trades.

Caterpillar Inc. (CAT) has a 52-week high of $98.64 and a 52-week low of $66.67. If you are viewing this piece on another site, it was stolen and republished in violation of United States & worldwide copyright and trademark law. (NYSE:CAT). Private Wealth Advsr Inc invested in 6,606 shares. The company was upgraded on Tuesday, February 7 by Barclays Capital. Longbow Research reissued a "hold" rating on shares of Caterpillar in a research note on Wednesday, January 25th.

A trend analysis is a method of analysis that allows traders to predict what will happen with a stock in the future. The stock's market capitalization is $55.32 billion.

Caterpillar Inc.'s (CAT) witnessed a gain of 2.64% in recent trading period with closing price of $ 96.81.

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