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CATERPILLAR MISSES PROFIT ESTIMATES, STOCK BELOW ALL MAs - Capital Street FX

24-Jul
19:10 IST

Caterpillar is currently trading at 130.49-lower by 5.51% as compared to the previous closing price. In the Premarket trading session, the stock was trading lower by 3.67%. The stock has continued falling after the opening bell.

Caterpillar stocks fell today after the company reported quarterly earnings that were below market expectations and issued guidance that was much weaker than expected. The industrial giant said it now expects 2019 profit to be at the lower end of the previous range of $12.06 to $13.06 per share. The EPS forecast was below the consensus estimate of $12.24 a share.

Caterpillar generated an EPS of $2.83 for the second quarter of 2019. The EPS was below the market expectation of $3.12.  Revenue of $14.432 billion was also below the consensus estimates of $14.435 billion.

Caterpillar, however, is expecting modest sales growth for the year, assuming a recovery in oil and gas near the end of the year. Stocks of the company rallied around 8% so far this year.

On the technical front, the current price is below the MA5. The current price is below the lower band of the Bollinger Bands and is heading downwards. The RSI is currently at 42.88% and suggests that the market can move in the downward direction.

 

TRADE SUGGESTION- STOP SELL AT 129.80 TAKE PROFIT AT 128.30 STOP LOSS AT 130.60

 

 

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28-Jan
20:41 IST

Caterpillar is currently trading at 125.70-lower by 8.99% as compared to the previous closing price. In the Premarket trading session, the stock was trading lower by about 8%. The stock has continued falling after the opening bell.

Caterpillar fell today after the company reported earnings that were sharply lower than expected and guidance that was much weaker than expected. The industrial giant said it now expects 2019 profit to increase to a range of $11.75 to $12.75 per share. The markets had expected $12.73 per share.

Caterpillar generated adjusted EPS of $2.55 for the fourth quarter of 2018. The EPS was below the consensus estimates of $2.99.  Revenue of $14.34 billion was, however, exceeded the market expectation of $14.33 billion.

The company cited tariffs as a factor in the fourth-quarter results. The industrial giant’s results were hurt by a slowdown in sales in China, where the economic growth rate has slowed to levels not seen in almost two decades.

On the technical front, the current price is below the MA5. The current price is below the middle line of the Bollinger Bands and is heading downwards. The RSI is currently at 43.75% and suggests that the market can move in the downward direction.

 

TRADE SUGGESTION- LIMIT SELL AT 125.95 TAKE PROFIT AT 124.45 STOP LOSS AT 126.75

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