Caterpillar Inc. (CAT) - NYSE
  • Mon, May 23, 12:47 PM
    • It's too soon to be bullish on metals and mining stocks, Axiom Capital's Gordon Johnson says, as he thinks the Fed’s hawkish commentary last week will trigger another leg down for many global metals, mining and mining equipment stocks.
    • Johnson sees the most pressure on the group coming from China, where he predicts significant further devaluation of the yuan and a softening in property prices in coming months; Johnson says April’s numbers were mostly positive on a Y/Y and M/M basis but that they were more mixed than in previous months.
    • Axiom maintains Sell ratings on Caterpillar (CAT +1.1%), Joy Global (JOY +1.3%), US Steel (X +5%), Cliffs Natural Resources (CLF +6.3%), Rio Tinto (RIO -0.1%), United Rentals (URI -0.1%), GATX (GMT +0.9%) and Trinity Industries (TRN +0.3%).
    | Mon, May 23, 12:47 PM | 18 Comments
  • Wed, May 4, 5:27 PM
    • Caterpillar (CAT -2.8%) has slipped another 1.8% in the past few minutes as Greenlight Capital's David Einhorn says he has a short position.
    • Einhorn is speaking at the Ira Sohn conference.
    • The company will bottom in 2018 at $2 EPS, Einhorn says, and shares will be cut in half.
    • Analyst consensus is that Caterpillar will log EPS of $3.94 in 2018 (and $3.55 for 2017).
    • Now read Caterpillar: It's Time To Sell This Stock »
    | Wed, May 4, 5:27 PM | 34 Comments
  • Mon, Apr. 25, 10:58 AM
    • Caterpillar (CAT -2.5%) says CEO Doug Oberhelman's 2015 pay package rose 4.5% Y/Y to $17.9M, thanks to stock awards and an increase in the value of his stock options and some benefits.
    • Oberhelman's 2015 salary was flat at $1.6M, he received $3M in stock awards, and the value of his stock option awards rose to $9M from $8.4M in 2014, while the company's profit plunged 43% Y/Y to $2.1B and revenue fell 15% to $47B.
    • Last year, roughly a third of the votes cast by shareholders at the annual meeting in June rejected CAT's executive compensation policies.
    • Now read Caterpillar dips after cutting full-year guidance
    | Mon, Apr. 25, 10:58 AM | 10 Comments
  • Wed, Apr. 13, 2:24 PM
    • Investors should take profits on machinery stocks ahead of earnings, J.P. Morgan analysts say, as valuations are stretched after the sector outperformed the S&P in Q1 +17% vs. +1.3%, and investors likely will have little tolerance for weaker than expected performance.
    • The firm suggests avoiding Deere (DE +1.9%), Agco (AGCO +3.5%) and CNH Industrial (CNHI +3%) on weaker fundamentals with downside risk to the market outlooks for each region, and Paccar (PCAR +2.9%) on weaker NAFTA HD truck demand vs. its guide for a 12% decline in U.S. and Canada retail sales.
    • However, JPM likes Allison Transmission (ALSN +2.4%) heading into Q1 as it has underperformed peers while its exposure to HD Class 8 long haul is limited and MD orders are up 5% YTD.
    • Rated Neutral CAT, MTW, JOY, NAV, TEX, MCRN, PH, KMT, ETN, ITW.
    | Wed, Apr. 13, 2:24 PM | 14 Comments
  • Thu, Mar. 17, 2:29 PM
    • Caterpillar (CAT +2.5%) reverses opening losses despite warning that its Q1 earnings would disappoint, as investors had expected the company would miss analyst estimates, and CAT affirmed full-year sales and profit forecasts.
    • Continuing global weakness will continue to present a stiff challenge for CAT, making it uncertain whether it actually will meet its full-year guidance, but WSJ's Justin Lahart thinks today's stock reaction suggests investors already have baked a lot of weakness into their assessment of the company.
    • But Dundee Capital analyst Maxim Sytchev isn’t buying it: "In typical wishful thinking fashion, management is somehow reiterating the full-year guidance because you know, H2 is always better than H1."
    | Thu, Mar. 17, 2:29 PM | 42 Comments
  • Thu, Mar. 17, 7:40 AM
    • Due to a deepening commodity-price slump and falling demand, Caterpillar (NYSE:CAT) cut its first-quarter earnings and revenue guidance, but said it remains comfortable with its prior full-year forecast.
    • Q1 sales are now expected to be between $9.3B-$9.4B (below a consensus of $10.4B), with adjusted earnings per share of $0.65-$0.70 (lower than a consensus of $0.97).
    • Still, the company affirmed its full-year guidance for 2016 sales and profit, with earnings per-share of $3.50 (or $4.00 excluding restructuring costs), and revenues in a range of $40B-$44B.
    • CAT -3.1% premarket
    | Thu, Mar. 17, 7:40 AM | 13 Comments
  • Thu, Feb. 18, 12:29 PM
    • Caterpillar (CAT -2.2%) is likely to cut its earnings estimates several times over the coming year, says Axiom Capital analyst Gordon Johnson, who rates CAT shares a Sell.
    • CAT's just-released rolling three-month machine sales show a 39% drop in energy and transport sales, which appears inconsistent with a separate company presentation that sees energy and transport sales for the full year dropping 10%-15%, which Johnson says “appears to assume a robust turn in fundamentals.”
    • The 39% January decline in energy and transport sales was even worse than the respective 32% and 29% drop in December and November; CAT's January worldwide retail machinery sales fell 15%, while sales to resource industries plunged 35% and sales to construction industries slipped 7%.
    | Thu, Feb. 18, 12:29 PM | 13 Comments
  • Fri, Jan. 29, 6:15 PM
    • Caterpillar (CAT +1.9%) will close five plants, resulting in a net loss of about 670 jobs -- the next step in its cost-cutting initiative.
    • About 230 job cuts will come from office and production staff at its campus in East Peoria, Ill., and another 120 will be put on indefinite layoff.
    • Meanwhile, factory closings in Thomasville, Ga., and Santa Fe, N.M., will cut another 250 jobs, while a forest products facility closure in Prentice, Wis., will cut another 220.
    • The company's 2015 plans were expected to affect about 10,000 jobs over three years.
    • Shares are down 8.4% YTD.
    • Previously: Caterpillar cost cuts helping, but profit and sales slump will persist in 2016 (Jan. 28 2016)
    | Fri, Jan. 29, 6:15 PM | 21 Comments
  • Thu, Jan. 28, 3:28 PM
    • Caterpillar (CAT +4.5%) shares enjoy their best day in two years after reporting better than expected Q4 earnings and above consensus guidance.
    • CAT warns that 2016 will be another difficult year which "does not anticipate improvement in world economic growth or commodity prices," but says its cost management and restructuring actions are helping; CAT's Q4 operating costs fell 15% Y/Y.
    • CAT foresees FY 2016 earnings of $4/share, excluding restructuring costs, compared with the average estimate of $3.48/share and 2015 EPS of $4.64; 2016 revenue is expected to fall by ~10% from 2015 to ~$42B, which would be the lowest level since 2010 and more than one-third below the company’s peak of $65.9B in 2012.
    • However, Dundee Capital’s Maxim Sytchev is "not buying" CAT’s above consensus earnings guidance, saying CAT's EPS outlook includes a $0.50 pick-up from a change in accounting principles related to pension and other costs - not a repeatable event - and noting that the latest rolling three-month retail sales have been grinding down at a 16% clip, even worse than the prior period's 11% decline.
    | Thu, Jan. 28, 3:28 PM | 9 Comments
  • Thu, Jan. 28, 7:58 AM
    • Q4 EPS excluding restructuring costs of $0.74 compares to $1.35 a year ago, on revenue of $11B vs. $14.2B a year earlier.
    • "Cost management, restructuring actions and operational execution are helping the company," CEO Doug Oberhelman said. "While it is tough to predict when an economic recovery will happen, the investments we are making and the actions we are taking to lower our cost structure and improve quality and our market position will help deliver better results when a recovery comes."
    • Guidance for 2016: Full-year adjusted earnings of $4.00 a share (vs. consensus of $3.48), on revenue of $40B-$44B (vs. consensus of $43.3B). Additional restructuring actions are also anticipated.
    • CAT +6.4% premarket
    • Q4 results
    | Thu, Jan. 28, 7:58 AM | 3 Comments
  • Thu, Jan. 28, 7:33 AM
    • Caterpillar (NYSE:CAT): Q4 EPS of $0.74 beats by $0.04.
    • Revenue of $11.03B (-22.5% Y/Y) misses by $420M.
    • Shares +1.9% PM.
    | Thu, Jan. 28, 7:33 AM | 27 Comments
  • Wed, Jan. 27, 10:09 AM
    • Caterpillar (CAT -2.3%) sinks in early trading after disclosing a 16% drop in worldwide retail sales of its machinery for the rolling three-month period ending in December, following an 11% decline for the three months ending in November.
    • CAT says retail sales to resource industries worldwide fell 38% during the three-month period, while retail sales to construction industries slipped 8%.
    • Within the energy and transportation segment, total sales fell 32%, led by a 58% plunge in transportation products and a 29% slide in oil and gas products.
    • CAT is scheduled to report earnings tomorrow.
    | Wed, Jan. 27, 10:09 AM | 3 Comments
  • Mon, Jan. 25, 8:39 AM
    • Caterpillar (NYSE:CAT) -3.7% premarket after Goldman Sachs lowered the heavy equipment maker's stock to Sell from Neutral, and axed its price target to $51 from $67.
    • The brokerage foresees lower returns on capital for a sustained period amid restrained global infrastructure spending.
    • Analyst Jerry Revich also lowered his estimate on Caterpillar's 2017 earnings per share, to $3.20 from $3.41 (roughly 15% below the consensus), citing excess capacity and lower demand from commodity export countries.
    | Mon, Jan. 25, 8:39 AM
  • Wed, Jan. 6, 12:27 PM
    • Caterpillar (CAT -1.6%) gets an Underperform rating and a $67.96 price target from Macquarie after the firm analyzed ~$1.7B of U.S. equipment listed on CAT's website on January 1 and compared it to prices found a month earlier.
    • CAT's inventory diminished to $2.39B from $2.47B, which Macquarie attributes to softening end-market demand, excess inventory and increased competition, and the firm thinks pricing will be weaker in 2016 than 2015.
    • Macquarie suggests investors sell CAT on any strength in the stock and sees 2016 as a challenging year with the worst of the oil and gas decline still ahead.
    | Wed, Jan. 6, 12:27 PM | 12 Comments
  • Mon, Jan. 4, 12:48 PM
    • Caterpillar (CAT -1.8%) lifts off sharp early losses even as Citi analysts "struggle to identify positive catalysts" amid slowing global growth and the firm's bearish commodity price outlook, as they lower they see CAT revenues declining by ~10% in 2016 and continue to rate shares at Neutral.
    • Nevertheless, Citi notes that CAT sentiment is low, and investors are already positioned for continued dollar strength, which it says makes either susceptible to reversing, and adds that CAT's valuation is near historical average lows.
    | Mon, Jan. 4, 12:48 PM | 4 Comments
  • Dec. 16, 2015, 8:59 AM
    • Deutsche Bank lowers Caterpillar (NYSE:CAT) to Hold from Buy, stating 2016 consensus estimates are too high with the company losing share in mining equipment/aftermarket.
    • The firm cuts its price target on the stock to $60 from $80.
    • CAT -1.5% premarket
    | Dec. 16, 2015, 8:59 AM | 11 Comments
Company Description
Caterpillar, Inc. is engaged in the manufacturing of construction & mining equipment, diesel & natural gas engines, industrial gas turbines and diesel-electric locomotives. The company provides technology for construction, transportation, mining, forestry, energy, logistics, electronics,... More
Industry: Farm & Construction Machinery
Country: United States