Stock Update: Caterpillar Inc (NYSE:CAT) – Caterpillar ready to move into Cuban market once embargo lifted -CEO

[Reuters] – Caterpillar Inc, the world’s largest maker of heavy equipment, is ready to move swiftly into the Cuban market once the U.S. trade embargo is lifted, Chief Executive Doug Oberhelman said on Wednesday after meeting with Cuban ministers in Havana. The detente between the United States and Cuba has raised hopes that full commercial ties will soon be restored between the former Cold War foes. Caterpillar, based in Peoria, Illinois, is one of several U.S. companies looking at ways to gain an early foothold in the Communist-ruled island, which had been largely off bounds to U.S. business for more than five decades. Read more on this. Caterpillar Inc. (CAT) , valued at $42.29B, started the session at $72.85. During the trading session, CAT traded between $72.36 to $73.61 with a trailing 52-week range being $56.36 to $89.62. CAT shares are currently priced at 19.94x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.60x forward p/e ratio. The company pays shareholders $3.08 per share annually in dividends, yielding 4.20%. According to a consensus of 16 analysts, the earnings estimate of $0.98 per share would be $0.29 worse than the year-ago quarter and a $0.07 sequential decrease. The full-year EPS estimate is $3.55 which would be a $1.09 worse than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $10.06 Billion. If reported, that would be a 18.34% decrease over the year-ago quarter. In terms of ratings, Goldman downgraded CAT from Neutral to Sell (Jan 25, 2016). Previously, Deutsche Bank downgraded CAT from Buy to Hold. When considering if perhaps the stock is under or overvalued, the average price target is $68.47, which is 6.01% below where the stock opened this morning. See more in (NYSE:CAT) Similar Articles: Market Update: Caterpillar Inc (NYSE:CAT) – Caterpillar Inc. to Announce First-Quarter 2016 Financial Results on April 22 Market Update: Caterpillar Inc (NYSE:CAT) – Caterpillar Announces Officer Retirement and Further Consolidation of Divisions Market Update: Caterpillar Inc (NYSE:CAT) – Caterpillar Announces New Responsibilities for Officers
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