Caterpillar says Wall Street 'too optimistic' on 2017 profit estimate

Caterpillar Inc , the world's largest construction and mining equipment maker, said on Thursday analysts' earnings expectations for 2017 were "too optimistic" as oil prices remained volatile. Analysts on average were expecting 2017 revenue of $38 billion and earnings of $3.25 per share, according to Thomson Reuters I/B/E/S. While the company said analysts' average revenue estimate of $38 billion for 2017 was a reasonable midpoint expectation, it added that it sees significant operating profit he