Caterpillar (CAT) stock price started its 2023 journey with a trading price of $238.88, while also marking its 52-week high at $266.04 in January 2023. CAT share price experienced a bearish trend from mid-March 2023 till late May of this year. However, earlier in June 2023, bulls started showing their dominance in the market which took its price to the overbought zone.
CAT Stock Price Analysis
On July 12, 2023, Wednesday, CAT stock price opened at $255.49, a noted high at $257.64 while the low was $251.44. The stock closed at $253.60 and added $0.75 while gaining 0.30% in Wednesday’s trading session. Additionally, its weekly price gain is 3.51% which was supported by active bulls, as per the analysis by TradingView, a web-based social network for traders.
As seen in the above price analysis chart, the pre-market price of CAT stock is showing an upsurge as it is resting at $254.98. As the stock price clearly showed an upside ride that last week surpassed its 20-day moving average. Although the RSI of the stock also started climbing upside which is now resting in the overbought zone.
According to the current pre-market analysis, bulls are active in the pre-market trading session. If they continue their dominance during July 13, 2023, Thursday’s intraday trading session, then CAT share price can reach new heights.
Last but not least, the analysts are offering a 1-year price target for CAT share price which is at $253.14. However, this price target is 0.18% down from the recent closing price of CAT stock. Moreover, their maximum estimate of CAT share price is $351.00 while the minimum estimate is $183.00, as seen in the above chart.
The Financial Update of Caterpillar Inc.
Caterpillar Inc. (NYSE: CAT), an American construction equipment manufacturer company, has a market cap of nearly $130.69 Billion. On April 27, 2023, Caterpillar Inc. released its Q1 2023 report, which states its net income is $1.94 Billion. Meanwhile, the total revenue of CAT for the same quarter is $15.86 Billion, which is 4.43% lower compared to the previous quarter.
Furthermore, CAT’s price-to-sales ratio is 2.13 and the company has an Enterprise Value to EBITDA ratio of 12.54. Notably, CAT dividends are paid quarterly and the next dividend per share is expected to be $1.30. As of today, the Dividend Yield (TTM)% is 1.90%.
During Q1 2023 earnings and revenue report, Caterpillar Inc. reported its earnings per share (EPS) are $4.91 while the estimate was $3.80 which accounts for a 29.12% surprise. The reported revenue in a similar period is $15.86 Billion as the estimation was $15.10 Billion. For the upcoming Q2 2023, the estimated EPS is $4.57, whereas the revenue is expected to reach $16.47 Billion.
For 2022, the revenue of Caterpillar Inc. reached $59.43 Billion and almost $25.13 Billion came from its highest-performing source at the moment, the construction industry. Moreover, North America has made the greatest contribution to the revenue figure in the last year which brought Caterpillar Inc. to $27.98 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/13/caterpillar-cat-stock-price-showing-over-5-ytd-price-gain/