Analysts predict that Cummins Inc. (NYSE:CMI) will report earnings of $2.86 per share for the current quarter, according to Zacks. Eight analysts have made estimates for Cummins’ earnings, with the lowest EPS estimate coming in at $2.73 and the highest estimate coming in at $2.95. Cummins reported earnings per share of $2.36 in the same quarter last year, which would suggest a positive year over year growth rate of 21.2%. The company is scheduled to issue its next earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that Cummins will report full year earnings of $12.51 per share for the current year, with EPS estimates ranging from $11.33 to $12.90. For the next fiscal year, analysts expect that the business will report earnings of $13.28 per share, with EPS estimates ranging from $12.52 to $13.85. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Cummins.
Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.65 by $0.38. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.23 billion. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The company’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 EPS.
Several research firms have recently weighed in on CMI. Zacks Investment Research downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Wednesday. William Blair reissued a “hold” rating on shares of Cummins in a research report on Tuesday, February 13th. TheStreet downgraded shares of Cummins from a “b” rating to a “c+” rating in a research report on Tuesday, February 6th. Credit Suisse Group dropped their target price on shares of Cummins from $208.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, Robert W. Baird boosted their target price on shares of Cummins from $157.00 to $159.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $188.18.
A number of hedge funds and other institutional investors have recently bought and sold shares of CMI. Boston Partners bought a new position in Cummins in the 3rd quarter worth about $416,229,000. Amundi Pioneer Asset Management Inc. bought a new position in Cummins in the 4th quarter worth about $210,124,000. BlackRock Inc. grew its position in Cummins by 8.3% in the 4th quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock worth $2,062,319,000 after purchasing an additional 898,512 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its position in Cummins by 203.7% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 926,242 shares of the company’s stock worth $155,636,000 after purchasing an additional 621,292 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Cummins by 107.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,186,164 shares of the company’s stock worth $209,524,000 after purchasing an additional 613,102 shares during the last quarter. Hedge funds and other institutional investors own 82.69% of the company’s stock.
Cummins (NYSE CMI) traded down $0.54 on Wednesday, hitting $166.28. 1,602,817 shares of the stock traded hands, compared to its average volume of 1,600,000. The company has a market cap of $27,600.00, a P/E ratio of 27.99, a P/E/G ratio of 1.16 and a beta of 1.14. Cummins has a one year low of $143.83 and a one year high of $194.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Friday, February 23rd will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, February 22nd. Cummins’s dividend payout ratio is presently 72.73%.
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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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