Caterpillar Inc. (CAT) is set to release its fourth-quarter earnings results before the opening bell on February 5, 2024. Analysts are expecting the company to report earnings of $4.75 per share, an increase from the $4.27 per share it earned in the same quarter of the previous year. Additionally, Caterpillar is projected to report revenue of $17.11 billion, up from $16.6 billion in the year-earlier quarter.
Caterpillar, a leading manufacturer of construction and mining equipment, recently signed an agreement with CRH to advance the deployment of its zero-exhaust emissions solutions. This move highlights Caterpillar’s commitment to sustainability and addressing environmental concerns in the industry.
Investors seem optimistic about Caterpillar’s prospects as its shares rose 2.4% to close at $315.09 on Friday. This positive sentiment could be attributed to the anticipation of the company’s strong earnings results.
For those interested in analyst ratings, Benzinga provides access to the latest analyst ratings on its Analyst Stock Ratings page. This resource allows readers to sort ratings by stock ticker, company name, analyst firm, rating change, or other variables.
To provide further insight into Caterpillar’s performance, let’s take a look at how some of Benzinga’s most accurate analysts have rated the company in recent times.
Stifel analyst Stanley Elliott, who has an accuracy rate of 77%, maintained a Buy rating on Caterpillar and raised the price target from $285 to $293 on December 19, 2023. This positive rating suggests that Elliott expects the company to outperform the market.
Ivan Feinseth, an analyst from Tigress Financial with a 69% accuracy rate, also maintained a Buy rating on Caterpillar and increased the price target from $282 to $295 on November 8, 2023.
Jerry Revich, an analyst from Goldman Sachs, has an accuracy rate of 76% and maintained a Buy rating on Caterpillar. However, Revich did reduce the price target from $315 to $274 on November 1, 2023.
Tami Zakaria, an analyst from JP Morgan, has an accuracy rate of 78% and maintained an Overweight rating on Caterpillar. Zakaria increased the price target from $315 to $320 on October 16, 2023, indicating a positive outlook for the company.
Matt Elkott from TD Cowen, with a 75% accuracy rate, maintained an Outperform rating on Caterpillar and raised the price target from $287 to $320 on August 2, 2023.
These ratings from analysts who have a track record of accuracy provide valuable insights for investors considering Caterpillar as an investment opportunity.
In conclusion, Caterpillar Inc. is expected to release its fourth-quarter earnings results with analysts anticipating positive growth in earnings and revenue. The company’s recent agreement with CRH to advance its zero-exhaust emissions solutions highlights its commitment to sustainability. Additionally, Caterpillar’s stock has experienced a rise in value, indicating investor confidence in its performance. Investors can stay updated on the latest analyst ratings through Benzinga’s Analyst Stock Ratings page, which offers a comprehensive overview of analyst opinions on the company.
