Why Caterpillar Stock Is Down Today
Caterpillar (NYSE: CAT) delivered mixed first-quarter results and warned of demand softness in the quarters to come. Investors are not impressed, sending shares down as much as 9% on Thursday morning.
Caterpillar makes the heavy equipment used in construction and mining. It is a great business when times are good for its customers, but big-ticket equipment purchases tend to get deferred when customers are uncertain about their outlook.
Caterpillar earned $5.60 per share in the first quarter, beating Wall Street's $5.14-per-share consensus estimate, despite sales that came in about $200 million short of consensus at $15.8 billion.
Source Fool.com
Caterpillar Inc. Stock
€675.20
0.300%
The stock is one of the favorites of our community with 52 Buy predictions and 4 Sell predictions.
However, we have a potential of -2.99% for Caterpillar Inc. as the target price of 655 € is below the current price of 675.2 €.
