News On Caterpillar Stock3/28/2021
Caterpillar Earnings Better Than Feared But CAT Stock Reverses Lower.
News On Caterpillar Stock Update Its EarningsThe Dow Jones Industrial Average component, which pulled 2020 earnings guidance in late March as coronavirus shutdowns spread, didnt update its earnings outlook.This continues to fluctuate as conditions warrant, including the pace of economic recovery and the potential for additional Covid-related temporary shutdowns.Revenue fell 31 to 10.0 billion. Caterpillar noted that dealers cut inventories by 1.4 billion in the quarter, exacerbating the decline related to end demand. Before the Q2 report, Wall Street analysts expected Caterpillar earnings per share of 5.19 in 2020, down from 11.06 per share in 2019. Revenue was expected to begin recovering in Q3, with estimates around 9.8 billion. ![]() Caterpillar stock has a buy point from a cup-with-handle base at 141.09, 10 cents above its high on July 16, when the handle began forming. Caterpillar results took a further hit from inventory destocking by dealers last year. Analysts started to become more bullish in late 2019 amid a China trade deal, but the coronavirus has throttled those hopes. The Composite Rating combines several key fundamental and technical factors into a single score. IBD research shows all-time stock winners often have a Composite Rating of at least 95 near the start of big runs. To find the best stocks to buy or watch, check out IBD Stock Lists and and other IBD content. Be sure to read IBDs daily The Big Picture column to make sure that the stock market has a confirmed uptrend, the equivalent of a green light. Heres what the stock chart and analysis indicates about buying CAT stock. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. The information and content are subject to change without notice. Realtime quote andor trade prices are not sourced from all markets.
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