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Caterpillar Drops 5.75% as Investors Await Earnings
The shares fell more than the major indexes, while Zacks estimates point to higher quarterly sales and earnings year over year.
Key takeaways
- Caterpillar fell 5.75% to $813.83, compared with a 0.22% decline for the S&P 500.
- Zacks estimates quarterly earnings of $6.95 per share and revenue of $20.19 billion.
Caterpillar shares fell 5.75% to $813.83 in the latest session, compared with a 0.22% decline for the S&P 500. The Dow lost 0.66%, while the Nasdaq fell 0.22%.
Despite the daily drop, the shares gained 4.98% over the past month, according to the article. That beat the Industrial Products sector’s 0.98% gain and the S&P 500’s 1.4% rise.
Ahead of Caterpillar’s upcoming earnings release, Zacks estimates quarterly earnings of $6.95 per share, up 40.4% from a year earlier. Its consensus revenue estimate is $20.19 billion, a 14.47% increase.
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Further reading
This article was produced with the help of AI technology. Source: Yahoo Finance
