Caterpillar (CAT) Releases Earnings Results, Misses Expectations By $-0.01 EPS

Caterpillar (CAT) reported quarterly earnings results on Friday, Apr-22-2016. The company reported $0.67 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.68. The company posted revenue of $9461.00 million in the period, compared to analysts expectations of $9454.87 million. The company’s revenue was down -25.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS.

Many Wall Street Analysts have commented on Caterpillar. Company shares were Reiterated by Barclays on Apr 13, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 67 from a previous price target of $65 .Caterpillar was Downgraded by Goldman to ” Sell” on Jan 25, 2016.

Caterpillar closed down -0.31 points or -0.39% at $78.66 with 65,09,134 shares getting traded on Wednesday. Post opening the session at $78.75, the shares hit an intraday low of $78.19 and an intraday high of $79.58 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jul 31, 2015, Bradley M Halverson (Group President & CFO) sold 11,867 shares at $77.11 per share price. According to the SEC, on May 12, 2015, Daniel M Dickinson (director) sold 807 shares at $87.10 per share price.

Caterpillar Inc. is a manufacturer of construction and mining equipment diesel and natural gas engines industrial gas turbines and diesel-electric locomotives. The Company principally operates through its three product segments: Resource Industries Construction Industries and Energy & Transportation. The Company also provides financing and related services through its Financial Products segment. It offers its products under the brand names Caterpillar CAT design versions of CAT and Caterpillar Electro-Motive FG Wilson MaK MWM Perkins Progress Rail SEM and Solar Turbines. It operates parts distribution centers at various locations including Morton Illinois; Arvin California; Denver Colorado; Miami Florida; Atlanta Georgia; St. Paul Minnesota and Dubai United Arab Emirates among others. Its subsidiaries include Caterpillar Life Insurance Company Cat Financial and Caterpillar Product Services Corporation (CPSC) among others.


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