Analysts forecast that Cummins Inc. (NYSE:CMI) will announce earnings per share (EPS) of $2.18 for the current quarter, according to Zacks. Six analysts have issued estimates for Cummins’ earnings, with the lowest EPS estimate coming in at $1.40 and the highest estimate coming in at $2.55. Cummins reported earnings of $4.27 per share during the same quarter last year, which would indicate a negative year over year growth rate of 48.9%. The business is expected to announce its next quarterly earnings results on Tuesday, August 4th.
According to Zacks, analysts expect that Cummins will report full year earnings of $7.76 per share for the current financial year, with EPS estimates ranging from $7.00 to $8.50. For the next financial year, analysts expect that the company will report earnings of $10.51 per share, with EPS estimates ranging from $8.60 to $11.80. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Cummins.
Cummins (NYSE:CMI) last released its earnings results on Tuesday, April 28th. The company reported $3.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.18 by $1.00. Cummins had a net margin of 9.34% and a return on equity of 24.86%. The company had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the business earned $4.20 EPS. The business’s revenue was down 16.5% on a year-over-year basis.
Several analysts have recently commented on the stock. Royal Bank of Canada restated a “hold” rating and issued a $165.00 target price on shares of Cummins in a research note on Thursday, May 21st. Oppenheimer restated a “hold” rating on shares of Cummins in a research note on Tuesday, April 28th. Goldman Sachs Group reduced their target price on shares of Cummins from $200.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Cowen reiterated a “hold” rating and issued a $171.00 price target on shares of Cummins in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Cummins from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $169.81.
Large investors have recently bought and sold shares of the business. ING Groep NV increased its holdings in Cummins by 4.2% during the 4th quarter. ING Groep NV now owns 16,509 shares of the company’s stock valued at $2,954,000 after acquiring an additional 658 shares in the last quarter. AlphaCrest Capital Management LLC increased its holdings in Cummins by 27.8% during the 4th quarter. AlphaCrest Capital Management LLC now owns 7,224 shares of the company’s stock valued at $1,293,000 after acquiring an additional 1,571 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Cummins by 221.0% during the 4th quarter. Cubist Systematic Strategies LLC now owns 63,828 shares of the company’s stock valued at $11,423,000 after acquiring an additional 43,942 shares in the last quarter. Amalgamated Bank increased its holdings in Cummins by 5.5% during the 4th quarter. Amalgamated Bank now owns 22,900 shares of the company’s stock valued at $4,098,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Altshuler Shaham Ltd increased its holdings in Cummins by 49.0% during the 4th quarter. Altshuler Shaham Ltd now owns 21,528 shares of the company’s stock valued at $3,852,000 after acquiring an additional 7,076 shares in the last quarter. Hedge funds and other institutional investors own 80.97% of the company’s stock.
Shares of CMI stock traded up $0.19 during mid-day trading on Tuesday, hitting $173.26. The stock had a trading volume of 1,268,035 shares, compared to its average volume of 1,456,797. Cummins has a fifty-two week low of $101.03 and a fifty-two week high of $186.73. The firm has a market cap of $25.53 billion, a PE ratio of 12.72, a PEG ratio of 2.33 and a beta of 1.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.40 and a quick ratio of 0.89. The company’s 50-day simple moving average is $167.24 and its 200-day simple moving average is $160.50.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were issued a dividend of $1.311 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $5.24 annualized dividend and a yield of 3.03%. Cummins’s dividend payout ratio (DPR) is currently 34.82%.
Cummins Company Profile
Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins and other customer brands for the heavy-and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.
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