Construction and mining equipment maker Caterpillar Inc. (
) on Monday posted mixed third quarter earnings results and lowered
its full-year outlook, citing slowing demand growth for its
The Peoria, IL-based company reported third quarter net income
of $1.7 billion, or $2.54 per share, compared with $1.14 billion,
or $1.71 per share, in the year-ago period.
Revenue rose 4.6% from last year to $16.45 billion.
On average, Wall Street analysts expected a much smaller profit
of $2.22 per share, albeit on higher revenue of $16.77 billion.
Looking ahead, CAT cut reduced its full-year 2012 earnings
outlook, citing weakening global economic conditions. The company
now expects full-year earnings of $9.00 to $9.25 per share on $66
billion in revenue. It had previously forecast earnings of $9.60
per share on revenue of $68 billion to $70 billion for the
Caterpillar shares fell $1.16, or -1.4%, in premarket trading
The Bottom Line
Shares of Caterpillar (
) have a 2.48% dividend yield, based on Friday's closing stock
price of $83.86. The stock has technical support in the $79-$80
price area. If the shares can firm up, we see overhead resistance
around the $88-$90 price levels.
Caterpillar Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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