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Stock Update (NYSE:CAT): Caterpillar Announces New Group President

[PR Newswire] – PEORIA, Ill., Jan. 15, 2016 /PRNewswire/ — Caterpillar Inc. (CAT) announced today that the company’s Board of Directors has elected Denise Johnson, currently vice president with responsibility for the Material Handling & Underground Division, as group president of Resources Industries. Denise has accomplished these business results while also delivering outstanding safety and quality metrics,” said Caterpillar Chairman and CEO Doug Oberhelman. “Above all, Denise is a leader inside and outside of Caterpillar. Read more on this. Caterpillar Inc. (CAT) , valued at $34.81B, opened this morning at $59.66. Today’s price range has been between $58.85 and $59.91 per share with a one year range of $58.85 to $89.62. CAT shares are currently priced at 13.57x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 17.52x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $3.08 per share annually in dividends, yielding 4.87%. According to a consensus of 21 analysts, the earnings estimate of $0.69 per share would be $0.66 worse than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $4.59 which would be a $1.79 setback than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $11.47 Billion. If reported, that would be a 19.45% decrease over the year-ago quarter. In terms of ratings, Deutsche Bank downgraded CAT from Buy to Hold (Dec 17, 2015). Previously, Robert W. Baird downgraded CAT from Outperform to Neutral. The average price target for CAT shares by the analysts covering it is $67.81, which is 13.66% above where the stock opened. See more in (NYSE:CAT) Similar Articles: Market Update: Caterpillar Inc (NYSE:CAT) – Caterpillar to Participate in the Baird 2015 Industrial Conference on November 11; Webcast Available Stock Update: Caterpillar Inc (NYSE:CAT) – Caterpillar to Participate in the Goldman Sachs Industrials Conference 2015 on November 4; Webcast Available Market Update (NYSE:CAT): Caterpillar Announces $1.5 Billion Accelerated Stock Repurchase
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