Brokerages expect Cummins Inc. (NYSE:CMI) to report $5.17 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Cummins’ earnings. The lowest sales estimate is $5.11 billion and the highest is $5.25 billion. Cummins posted sales of $4.50 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 14.9%. The firm is scheduled to report its next quarterly earnings results before the market opens on Tuesday, February 6th.
On average, analysts expect that Cummins will report full year sales of $5.17 billion for the current fiscal year, with estimates ranging from $20.00 billion to $20.24 billion. For the next financial year, analysts anticipate that the business will report sales of $21.49 billion per share, with estimates ranging from $20.75 billion to $21.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Cummins.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.24. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 EPS.
A number of research analysts have issued reports on the company. Stifel Nicolaus restated a “hold” rating and issued a $190.00 price objective (up previously from $186.00) on shares of Cummins in a research note on Wednesday, November 1st. Piper Jaffray Companies set a $170.00 price objective on Cummins and gave the company a “hold” rating in a research note on Tuesday, October 31st. Buckingham Research upped their price objective on Cummins from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Robert W. Baird restated a “sell” rating and issued a $155.00 price objective on shares of Cummins in a research note on Wednesday, November 1st. Finally, Jefferies Group upped their price objective on Cummins from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $178.69.
Cummins (CMI) opened at $184.18 on Friday. The stock has a market capitalization of $30,521.42, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.32 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. Cummins has a 12 month low of $134.06 and a 12 month high of $185.10.
Hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its stake in shares of Cummins by 1.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 229,821 shares of the company’s stock worth $38,617,000 after acquiring an additional 3,700 shares during the period. Kirr Marbach & Co. LLC IN bought a new position in shares of Cummins during the 3rd quarter worth $255,000. Boston Partners bought a new position in shares of Cummins during the 3rd quarter worth $416,229,000. FDx Advisors Inc. bought a new position in shares of Cummins during the 3rd quarter worth $685,000. Finally, Valeo Financial Advisors LLC bought a new position in shares of Cummins during the 3rd quarter worth $1,195,000. Institutional investors own 82.31% of the company’s stock.
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Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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