Caterpillar Inc. (NYSE:CAT) shares, rose in value on Thursday, June 23, with the stock price down by -1.85% to the previous day’s close as strong demand from buyers drove the stock to $184.35.
Actively observing the price movement in the recent trading, the stock is buoying the session at $187.83, falling within a range of $187.705 and $192.79. The PE ratio was 15.85 over 12-month period. Referring to stock’s 52-week performance, its high was $237.90, and the low was $179.67. On the whole, CAT has fluctuated by -5.05% over the past month.
With the market capitalization of Caterpillar Inc. currently standing at about $101.30 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 27, 2022 – May 02, 2022. The company’s Forward Dividend Ratio is 4.80, with its dividend yield at 2.56%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $3, which is expected to increase to $3.54 for fiscal year $12.45 and then to about $14.46 by fiscal year 2023. Data indicates that the EPS growth is expected to be 15.20% in 2023, while the next year’s EPS growth is forecast to be 16.10%.
Analysts have estimated the company’s revenue for the quarter at $14.41 billion, with a low estimate of $13.9 billion and a high estimate of $15.11 billion. According to the average forecast, sales growth in current quarter could jump up 11.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $57.5 billion, representing an increase of 12.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CAT’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0.64, with the price of CAT currently trading nearly -12.88% and -13.52% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 29.41, while the 7-day volatility ratio is showing 3.10% which for the 30-day chart, stands at 2.45%. Furthermore, Caterpillar Inc. (CAT)’s beta value is 0.93, and its average true range (ATR) is 6.80.
A comparison of Caterpillar Inc. (CAT) with its peers suggests the former has fared considerably weaker in the market. CAT showed an intraday change of -1.85% in today’s session so far, and over the past year, it shrunk by -11.87%%. In comparison, Deere & Company (DE) has moved lower at -3.97% today and is down -7.07% over the past 12 months. The PE ratio stands at 15.85 for Caterpillar Inc., compared to 16.59 for Deere & Company. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.92%. Meanwhile, the Dow Jones Industrial Improved by 0.69%.
Data on historical trading for Caterpillar Inc. (NYSE:CAT) indicates that the trading volumes over the past 10 days have averaged 3.69 million and over the past 3 months, they’ve averaged 3.07 million. According to company’s latest data on outstanding shares, there are 534.50 million shares outstanding.
Nearly 0.10% of Caterpillar Inc.’s shares belong to company insiders and institutional investors own 70.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.02 million shares as on Apr 28, 2022, resulting in a short ratio of 1.51. According to the data, the short interest in Caterpillar Inc. (CAT) stood at 0.94% of shares outstanding as of Apr 28, 2022; the number of short shares registered in Mar 30, 2022 reached 4.87 million. The stock has fallen by -9.15% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CAT stock heading into the next quarter.