Caterpillar is set to report earnings before the bell — here's what the Street expects

  • 📰 CNBC
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Caterpillar is reporting first-quarter earnings before the bell on Wednesday.

In January, the stock plunged after Caterpillar reported disappointing fourth-quarter earnings. The equipment manufacturer, considered a proxy for the global economy, said tariffs and a slowdown in sales in China impacted profit.

For the full year, however, the company posted record profit of $11.22 a share, up 63 percent from a year earlier. Full-year sales also rose by 20 percent. In February, UBS gave Caterpillar a rare double downgrade from"buy" to"sell," as analysts warned that an earnings decline in 2020 had not yet been priced into the stock.

The stock has since rebounded, however, and is up 12% so far in 2019. Over the past 12 months, it is down 7%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Health-care stocks keep getting hammered — Wall Street says this is whyFour of the Dow Jones Industrial Average’s 10 biggest losers on Wednesday were health companies, including UnitedHealth Group Inc., Merck & Co. , Pfizer...
Source: MarketWatch - 🏆 3. / 97 Read more »