Caterpillar Boosts Outlook as Q1 Earnings Blow Away View (CAT)

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Construction and mining equipment maker Caterpillar Inc. ( CAT ) on Friday posted a sharp increase in its first quarter profit, prompting the company to boost its full-year outlook.

The Peoria, IL-based company reported first quarter net income of $1.23 billion, or $1.84 per share, compared with $233 million, or 36 cents per share, in the year-ago period.

Revenue rose 57% from last year to $12.95 billion.


On average, Wall Street analysts expected a smaller profit of $1.30 per share, on lower revenue of $11.4 billion.

Looking ahead, the company boosted its full-year earnings outlook to a range of $6.25 to $6.75 per share, up from a prior estimate of $6. Analysts currently expect $6.25 per share for the year.

Caterpillar shares rose $2.92, or +2.6%, in premarket trading Friday.

The Bottom Line
Shares of Caterpillar ( CAT ) have a 1.56% dividend yield, based on last night's closing stock price of $112.64. The stock has technical support in the $104-$106 price area. The shares are trading near all-time highs and have little overhead resistance.

Caterpillar Inc. ( CAT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

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