Brokerages expect Cummins (NYSE:CMI) to report earnings per share of $3.59 for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Cummins’ earnings. The highest EPS estimate is $4.06 and the lowest is $3.23. Cummins reported earnings of $2.53 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 41.9%. The business is expected to report its next quarterly earnings results on Tuesday, August 7th.
According to Zacks, analysts expect that Cummins will report full-year earnings of $13.44 per share for the current year, with EPS estimates ranging from $12.60 to $14.14. For the next fiscal year, analysts expect that the firm will report earnings of $14.18 per share, with EPS estimates ranging from $12.23 to $14.95. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Cummins.
Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 1st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $0.39. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Cummins had a net margin of 4.33% and a return on equity of 23.47%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.36 EPS.
Several equities research analysts have recently issued reports on CMI shares. Zacks Investment Research raised shares of Cummins from a “hold” rating to a “strong-buy” rating and set a $185.00 price objective for the company in a research report on Friday, April 6th. Deutsche Bank raised shares of Cummins from a “sell” rating to a “hold” rating and set a $147.00 price objective for the company in a research report on Monday, March 19th. JPMorgan Chase decreased their price objective on shares of Cummins from $176.00 to $164.00 and set a “neutral” rating for the company in a research report on Tuesday, April 10th. Bank of America raised shares of Cummins from a “neutral” rating to a “buy” rating and set a $215.00 price objective for the company in a research report on Friday, January 19th. Finally, Robert W. Baird lifted their price objective 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. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $171.45.
Shares of Cummins traded up $0.26, hitting $146.36, during trading on Thursday, MarketBeat Ratings reports. 930,328 shares of the stock were exchanged, compared to its average volume of 1,685,311. The stock has a market cap of $24.13 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 0.94 and a beta of 1.24. Cummins has a 12-month low of $146.71 and a 12-month high of $147.90. The company has a current ratio of 1.58, a quick ratio of 0.99 and a debt-to-equity ratio of 0.19.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 18th will be paid a dividend of $1.08 per share. The ex-dividend date is Thursday, May 17th. This represents a $4.32 annualized dividend and a yield of 2.95%. Cummins’s dividend payout ratio is currently 40.68%.
A number of large investors have recently made changes to their positions in the stock. Gables Capital Management Inc. acquired a new position in Cummins in the first quarter valued at $115,000. Centaurus Financial Inc. acquired a new position in Cummins in the first quarter valued at $115,000. Risk Paradigm Group LLC acquired a new position in Cummins in the fourth quarter valued at $127,000. McKinley Carter Wealth Services Inc. acquired a new position in Cummins in the first quarter valued at $146,000. Finally, Signaturefd LLC acquired a new position in Cummins in the first quarter valued at $159,000. Hedge funds and other institutional investors own 84.18% of the company’s stock.
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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