Cummins (NYSE:CMI) – Equities research analysts at Piper Jaffray raised their FY2019 earnings per share (EPS) estimates for Cummins in a research report issued to clients and investors on Thursday, April 5th. Piper Jaffray analyst A. Potter now forecasts that the company will earn $13.67 per share for the year, up from their prior estimate of $12.52. Piper Jaffray currently has a “Hold” rating and a $164.00 target price on the stock.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Cummins from a “hold” rating to a “strong-buy” rating and set a $185.00 target price for the company in a research note on Friday. Deutsche Bank upgraded Cummins from a “sell” rating to a “hold” rating and set a $147.00 target price for the company in a research note on Monday, March 19th. Morgan Stanley initiated coverage on shares of Cummins in a research report on Friday, March 2nd. They set an “equal weight” rating and a $173.00 price target on the stock. Wells Fargo reaffirmed a “buy” rating and set a $195.00 price target (down previously from $210.00) on shares of Cummins in a research report on Thursday, February 22nd. Finally, William Blair reaffirmed a “hold” rating on shares of Cummins in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $185.33.
Shares of Cummins stock opened at $156.50 on Monday. 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 stock has a market cap of $26,161.39, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.10 and a beta of 1.22. Cummins has a 1-year low of $143.83 and a 1-year high of $194.18.
Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, beating the 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 return on equity of 22.18% and a net margin of 4.89%. The company’s revenue was up 21.6% on a year-over-year basis. During the same period last year, the firm earned $2.25 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the business. IFM Investors Pty Ltd bought a new position in Cummins in the third quarter worth about $742,000. Valeo Financial Advisors LLC bought a new position in Cummins in the third quarter worth about $1,195,000. DnB Asset Management AS lifted its holdings in Cummins by 84.2% in the fourth quarter. DnB Asset Management AS now owns 37,406 shares of the company’s stock worth $6,607,000 after acquiring an additional 17,100 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Cummins by 104.5% in the fourth quarter. Victory Capital Management Inc. now owns 149,873 shares of the company’s stock worth $26,474,000 after acquiring an additional 76,584 shares during the last quarter. Finally, Cedar Hill Associates LLC bought a new position in Cummins in the third quarter worth about $300,000. 84.18% of the stock is currently owned by hedge funds and other institutional investors.
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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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