Caterpillar Inc. [NYSE: CAT] jumped around 6.64 points on Thursday, while shares priced at $282.56 at the close of the session, up 2.41%. The company report on August 1, 2023 at 6:31 AM that Cat Financial Announces Second-Quarter 2023 Results.
– Cat Financial reported second-quarter 2023 revenues of $793 million, an increase of $125 million, or 19%, compared with $668 million in the second quarter of 2022. Second-quarter 2023 profit was $150 million, an increase of $7 million, or 5%, compared with $143 million in the second quarter of 2022. The increase in revenues was primarily due to a $120 million favorable impact from higher average financing rates.
Second-quarter 2023 profit before income taxes was $205 million, an increase of $6 million, or 3%, compared with $199 million in the second quarter of 2022. The increase was mainly due to a $44 million favorable impact from a lower provision for credit losses and a $12 million increase in net yield on average earning assets, partially offset by unfavorable currency impacts of $27 million and an $18 million increase in general, operating and administrative expenses.
Caterpillar Inc. stock is now 17.95% up from its year-to-date (YTD) trading value. CAT Stock saw the intraday high of $283.175 and lowest of $277.83 per share. The company’s 52-week high price is 293.88, which means current price is +38.48% above from all time high which was touched on 08/02/23.
Compared to the average trading volume of 2.64M shares, CAT reached a trading volume of 2656340 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Caterpillar Inc. [CAT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CAT shares is $282.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CAT stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Caterpillar Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 17, 2023.
The Average True Range (ATR) for Caterpillar Inc. is set at 5.97, with the Price to Sales ratio for CAT stock in the period of the last 12 months amounting to 2.22. The Price to Book ratio for the last quarter was 7.95, with the Price to Cash per share for the same quarter was set at 14.52. Price to Free Cash Flow for CAT in the course of the last twelve months was 19.80 with Quick ratio for the last quarter at 0.80.
How has CAT stock performed recently?
Caterpillar Inc. [CAT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.40. With this latest performance, CAT shares gained by 1.87% in over the last four-week period, additionally plugging by 30.06% over the last 6 months – not to mention a rise of 53.31% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CAT stock in for the last two-week period is set at 56.89, with the RSI for the last a single of trading hit 56.26, and the three-weeks RSI is set at 57.93 for Caterpillar Inc. [CAT]. The present Moving Average for the last 50 days of trading for this stock 271.39, while it was recorded at 280.92 for the last single week of trading, and 242.56 for the last 200 days.
Caterpillar Inc. [CAT]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Caterpillar Inc. [CAT] shares currently have an operating margin of +15.35 and a Gross Margin at +28.61. Caterpillar Inc.’s Net Margin is presently recorded at +11.28.
Return on Total Capital for CAT is now 16.83, given the latest momentum, and Return on Invested Capital for the company is 15.77. Return on Equity for this stock inclined to 41.45, with Return on Assets sitting at 8.14. When it comes to the capital structure of this company, Caterpillar Inc. [CAT] has a Total Debt to Total Equity ratio set at 236.76. Additionally, CAT Total Debt to Total Capital is recorded at 70.31, with Total Debt to Total Assets ending up at 45.85. Long-Term Debt to Equity for the company is recorded at 164.74, with the Long-Term Debt to Total Capital now at 48.92.
Reflecting on the efficiency of the workforce at the company, Caterpillar Inc. [CAT] managed to generate an average of $61,457 per employee. Receivables Turnover for the company is 3.40 with a Total Asset Turnover recorded at a value of 0.72.Caterpillar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.30.
Earnings analysis for Caterpillar Inc. [CAT]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CAT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Caterpillar Inc. go to 13.83%.
Insider trade positions for Caterpillar Inc. [CAT]
The top three institutional holders of CAT stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in CAT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in CAT stock with ownership which is approximately 5.7381%.