BUZZ-PREVIEW: Caterpillar dips ahead of earnings due Wed

Reuters02:47

** Caterpillar down 0.7% to $387.78 ahead of Q3 results due before the opening bell on Wednesday

** The maker of construction equipment is expected to post EPS of $5.34 on revenue of $16.08 bln, per LSEG data, vs yr-ago results of $5.52 per share and $16.81 bln in revenue

** CAT has topped EPS view for at least the past eight qtrs; most recent revenue miss was in Q1 2024

** Of the 26 analysts that cover Caterpillar Inc, the breakdown of recommendations are 9 "strong buy" or "buy," 13 "hold" and 4 "sell" or "strong sell" ratings

** Median price target of $336 in down slightly from $337 a month ago

** CAT shares up ~31% YTD vs ~12% climb in Dow Industrials

** CAT options imply a 4.6% swing for the shares, in either direction by Friday, per Trade Alert data; that is slightly below the stock's avg move of 5.0% on the day of results over the last eight qtrs

(Reporting by Chuck Mikolajczak; additional reporting by Saqib Ahmed)

((charles.mikolajczak@tr.com; @ChuckMik;))

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