Why Caterpillar Stock Slumped 5% Today
Shares of (NYSE: CAT) slumped a little over 5% Thursday morning and were still trading around 4.8% lower as of 12:30 p.m. ET.
Although the construction and mining giant beat earnings estimates for its fourth quarter, its revenue fell short of analysts' estimates yet again. Caterpillar's outlook, however, spooked investors, raising concerns about whether the stock will be able to maintain momentum after rallying 23% in 2024.
Here are some key numbers from Caterpillar's fourth-quarter and full-year earnings report (all changes are year over year):
Source Fool.com
Caterpillar Inc. Stock
€340.00
0.590%
Currently there is a rather positive sentiment for Caterpillar Inc. with 30 Buy predictions and 6 Sell predictions.
With a target price of 377 € there is a slightly positive potential of 10.88% for Caterpillar Inc. compared to the current price of 340.0 €.
