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CAT

Caterpillar

$133.69

1.47 (1.11%)

06:39
10/23/19
10/23
06:39
10/23/19
06:39

Cat Financial reports Q3 revenue $748M, up 2% vs. last year

The company states: "Cat Financial reported Q3 revenues of $748 million, an increase of $13 million, or 2%, compared with the third quarter of 2018. Third-quarter 2019 profit was $129 million, a $4 million, or 3%, increase from the third quarter of 2018. The increase in revenues was primarily due to a $29 million favorable impact from higher average financing rates, partially offset by a $10 million unfavorable impact due to the termination of a committed credit facility with Caterpillar. Third-quarter 2019 profit before income taxes was $184 million, a $21 million, or 13%, increase from the third quarter of 2018. The increase was primarily due to a $31 million increase in net yield on average earning assets and a $27 million decrease in provision for credit losses. These favorable impacts were partially offset by a $14 million increase in general, operating and administrative expenses and the $10 million unfavorable impact mentioned above related to the termination of a committed credit facility with Caterpillar. During the third quarter of 2019, retail new business volume was $2.93 billion, an increase of $51 million, or 2%, from the third quarter of 2018. The increase was primarily driven by higher volume in North America, partially offset by lower volume in Caterpillar Power Finance."

  • 23

    Oct

  • 04

    Nov

CAT Caterpillar
$133.69

1.47 (1.11%)

10/11/19
FBCO
10/11/19
NO CHANGE
Target $149
FBCO
Outperform
Caterpillar price target lowered to $149 after dealer survey at Credit Suisse
Credit Suisse analyst Jamie Cook said 35% of Caterpillar dealers surveyed by the firm cited risks, albeit modest, to full year estimates, while the rest reiterated prior forecasts calling for demand to be flat to up 5%. In the U.S., used pricing remains fairly stable and dealer inventory is slightly elevated in certain regions, Cook said he found. For 2020, however, the outlook is now seen as worse, projected to be down 5%-10% compared to last quarter's forecast of flat to down 5%, the analyst noted. He lowered his FY19-FY21 EPS forecasts in response to the further deterioration in the survey results and weaker industrial data more broadly, causing him to cut his price target for Caterpillar shares to $149 from $165. Cook keeps an Outperform rating on Caterpillar.
10/18/19
MSCO
10/18/19
DOWNGRADE
Target $145
MSCO
Equal Weight
Caterpillar downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Courtney Yakavonis downgraded Caterpillar to Equal Weight from Overweight with a $145 price target.
10/18/19
MSCO
10/18/19
DOWNGRADE
Target $145
MSCO
Equal Weight
Morgan Stanley downgrades Caterpillar, sees 2020 declines for two biggest units
As previously reported, Morgan Stanley analyst Courtney Yakavonis downgraded Caterpillar to Equal Weight from Overweight with a price target of $145, down from $150. She believes that the U.S. Construction Equipment market peaked in 2019 and that Energy & Transportation, or E&T, markets will fail to re-accelerate in 2020, leading Yakavonis to now expect negative growth in the company's two largest business segments in 2020 as well as less upside in Resources. Her sales and EPS estimates are 4% and 2%, respectively, below consensus, and her updated estimates now call for a mild year-over-year earnings decline in 2020, Yakavonis tells investors.
10/18/19
10/18/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Gildan Activewear (GIL) downgraded to Sell from Buy at Desjardins, to Hold from Buy at Stifel, and to Underperform from Buy at BofA/Merrill. 2. Caterpillar (CAT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Courtney Yakavonis saying she believes that the U.S. Construction Equipment market peaked in 2019 and that Energy & Transportation, or E&T, markets will fail to re-accelerate in 2020. 3. Charles River (CRL) downgraded to Neutral from Buy at BofA/Merrill with analyst Juan Avendano saying the company's acquisition growth opportunities "seem less compelling" going forward. 4. Macy's (M), Gap (GPS), and L Brands (LB) downgraded to Underperform from Neutral at Credit Suisse. 5. Waste Management (WM) downgraded to Neutral from Buy at BofA/Merrill and to Sector Weight from Overweight at KeyBanc. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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LYV

Live Nation

$66.17

-1.55 (-2.29%)

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DRH

DiamondRock

$9.86

-0.085 (-0.86%)

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OOMA

Ooma

$11.18

-0.01 (-0.09%)

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Nordstrom

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Shoe Carnival

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Ross Stores

$111.81

1.39 (1.26%)

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$19.84

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INTU

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  • 10

    Mar

  • 11

    Mar

AES

AES Corp.

$18.50

-0.115 (-0.62%)

19:08
11/21/19
11/21
19:08
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19:08
Earnings
AES backs FY19 adjusted EPS view $1.30-$1.38, consensus $1.33 »

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  • 04

    Dec

WM

Waste Management

$111.23

-1.305 (-1.16%)

, RSG

Republic Services

$86.78

-0.91 (-1.04%)

19:07
11/21/19
11/21
19:07
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19:07
Initiation
Waste Management, Republic Services, Waste Connections, Clean Harbors, Stericycle, Casella Waste, Covanta initiated  »

Jefferies initiates…

WM

Waste Management

$111.23

-1.305 (-1.16%)

RSG

Republic Services

$86.78

-0.91 (-1.04%)

WCN

Waste Connections

$89.54

-0.28 (-0.31%)

CLH

Clean Harbors

$84.70

-0.75 (-0.88%)

SRCL

Stericycle

$62.49

0.76 (1.23%)

CWST

Casella Waste

$43.70

-0.39 (-0.88%)

CVA

Covanta

$14.43

-0.14 (-0.96%)

03/08/13
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AES

AES Corp.

$18.50

-0.115 (-0.62%)

19:07
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Hot Stocks
AES Corp. says PUCO has modified DP&L rates »

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  • 04

    Dec

ICE

IntercontinentalExchange

$93.89

-0.58 (-0.61%)

, BTC

Bitcoin

$0.00

(0.00%)

19:02
11/21/19
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Hot Stocks
ICE announces launch of Bakkt Bitcoin Cash Settled Monthly Futures contract »

Intercontinental Exchange…

ICE

IntercontinentalExchange

$93.89

-0.58 (-0.61%)

BTC

Bitcoin

$0.00

(0.00%)

BITCOIN

Bitcoin

$0.00

(0.00%)

03/08/13
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MAN

ManpowerGroup

$92.05

-0.355 (-0.38%)

18:51
11/21/19
11/21
18:51
11/21/19
18:51
Initiation
ManpowerGroup initiated at Jefferies »

ManpowerGroup initiated…

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RHI

Robert Half

$58.01

-0.38 (-0.65%)

18:48
11/21/19
11/21
18:48
11/21/19
18:48
Initiation
Robert Half initiated at Jefferies »

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HTZ

Hertz

$15.37

0.265 (1.76%)

18:46
11/21/19
11/21
18:46
11/21/19
18:46
Initiation
Hertz initiated at Jefferies »

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CAR

Avis Budget

$28.71

0.16 (0.56%)

18:44
11/21/19
11/21
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18:44
Initiation
Avis Budget initiated at Jefferies »

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AMD

AMD

$39.52

-1.45 (-3.54%)

18:42
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AMD CEO: The key for us is product generation »

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  • 09

    Dec

  • 12

    Dec

CTAS

Cintas

$253.61

-5.78 (-2.23%)

, BFAM

Bright Horizons

$148.62

-3.92 (-2.57%)

18:42
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Initiation
Cintas, Bright Horizons, Aramark, H&R Block, BrightView, Rollins, ServiceMaster initiated at Jefferies »

Jefferies initiates…

CTAS

Cintas

$253.61

-5.78 (-2.23%)

BFAM

Bright Horizons

$148.62

-3.92 (-2.57%)

ARMK

Aramark

$42.42

-1.37 (-3.13%)

HRB

H&R Block

$24.34

-0.15 (-0.61%)

BV

BrightView

$16.79

-2.525 (-13.08%)

ROL

Rollins

$35.77

-0.8 (-2.19%)

SERV

ServiceMaster

$36.16

-0.42 (-1.15%)

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  • 21

    Nov

  • 04

    Dec

PINE

Alpine Income Properties

$0.00

(0.00%)

18:34
11/21/19
11/21
18:34
11/21/19
18:34
Syndicate
Alpine Income Properties 7.5M share IPO priced at $19.00 »

The deal priced at low…

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  • 22

    Nov

OTTW

Ottawa Bancorp

$13.39

-0.39 (-2.83%)

18:28
11/21/19
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18:28
Hot Stocks
Ottawa Bancorp approves stock buyback of 317,307 shares »

Ottawa Bancorp announced…

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MSFT

Microsoft

$149.46

-0.14 (-0.09%)

18:27
11/21/19
11/21
18:27
11/21/19
18:27
Periodicals
Microsoft says granted U.S. license to do business with Huawei, Bloomberg says »

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  • 02

    Dec

  • 04

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  • 09

    Dec

SITC

Site Centers

$14.28

-0.275 (-1.89%)

18:24
11/21/19
11/21
18:24
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18:24
Upgrade
Site Centers rating change at Stifel »

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UAL

United Airlines

$90.96

-0.72 (-0.79%)

, BA

Boeing

$366.47

-4.275 (-1.15%)

18:23
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18:23
Hot Stocks
United Airlines CEO: We don't think we are near a recession »

In an interview on…

UAL

United Airlines

$90.96

-0.72 (-0.79%)

BA

Boeing

$366.47

-4.275 (-1.15%)

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  • 03

    Dec

FAST

Fastenal

$35.15

-0.1 (-0.28%)

, GWW

Grainger

$312.66

0.305 (0.10%)

18:20
11/21/19
11/21
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18:20
Initiation
Fastenal, Grainger, HD Supply, MSC Industrial, Wesco initiated at Jefferies »

Jefferies initiates…

FAST

Fastenal

$35.15

-0.1 (-0.28%)

GWW

Grainger

$312.66

0.305 (0.10%)

HDS

HD Supply

$39.10

-0.21 (-0.53%)

MSM

MSC Industrial

$73.66

-0.125 (-0.17%)

WCC

Wesco

$53.09

-0.02 (-0.04%)

03/08/13
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  • 10

    Dec

  • 30

    Jan

SPGI

S&P Global

$264.34

-3.6 (-1.34%)

, INFO

IHS Markit

$71.62

-0.38 (-0.53%)

18:06
11/21/19
11/21
18:06
11/21/19
18:06
Initiation
S&P Global, IHS Markit, Verisk Analytics, Gartner, FactSet, Equifax, TransUnion, CoStar Group initiated at Jefferies »

Jefferies initiates…

SPGI

S&P Global

$264.34

-3.6 (-1.34%)

INFO

IHS Markit

$71.62

-0.38 (-0.53%)

VRSK

Verisk Analytics

$144.45

0.12 (0.08%)

IT

Gartner

$158.00

0.06 (0.04%)

FDS

FactSet

$258.20

-3.65 (-1.39%)

EFX

Equifax

$137.97

-1.15 (-0.83%)

TRU

TransUnion

$84.90

-1.34 (-1.55%)

CSGP

CoStar Group

$587.66

-7.45 (-1.25%)

03/08/13
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  • 02

    Dec

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    Dec

  • 19

    Dec

  • 07

    Jan

GPS

Gap

$16.22

-0.05 (-0.31%)

17:59
11/21/19
11/21
17:59
11/21/19
17:59
Periodicals
Gap to pull Old Navy brand from China in early 2020, Reuters reports »

Gap said it does not…

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  • 21

    Nov

  • 05

    Dec

LB

L Brands

$17.18

1.78 (11.56%)

17:50
11/21/19
11/21
17:50
11/21/19
17:50
Hot Stocks
L Brands cancels Victoria's Secret Fashion Show for 'more current platforms' »

The CFO of L Brands,…

03/08/13
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