Wall Street brokerages predict that Cummins Inc. (NYSE:CMI) will post $5.76 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Cummins’ earnings. The highest sales estimate is $5.86 billion and the lowest is $5.69 billion. Cummins reported sales of $5.08 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 13.4%. The firm is expected to issue its next earnings results before the market opens on Tuesday, July 31st.
On average, analysts expect that Cummins will report full year sales of $22.93 billion for the current financial year, with estimates ranging from $22.19 billion to $23.25 billion. For the next financial year, analysts expect that the company will post sales of $23.56 billion per share, with estimates ranging from $22.73 billion to $24.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Cummins.
Cummins (NYSE:CMI) last posted its quarterly earnings results 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. Cummins had a net margin of 4.33% and a return on equity of 23.47%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the business posted $2.36 earnings per share. The company’s quarterly revenue was up 21.4% compared to the same quarter last year.
Several research analysts recently issued reports on CMI shares. Deutsche Bank raised shares of Cummins from a “sell” rating to a “hold” rating and set a $147.00 price target for the company in a research report on Monday, March 19th. Piper Jaffray Companies set a $164.00 price target on shares of Cummins and gave the stock a “hold” rating in a research report on Thursday, April 5th. Zacks Investment Research raised shares of Cummins from a “hold” rating to a “strong-buy” rating and set a $185.00 price target for the company in a research report on Friday, April 6th. JPMorgan Chase & Co. dropped their price target 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. Finally, UBS Group lowered shares of Cummins from a “neutral” rating to a “sell” rating and set a $136.00 price target for the company. in a research report on Tuesday, May 1st. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $169.95.
Several hedge funds and other institutional investors have recently bought and sold shares of CMI. Parallel Advisors LLC grew its stake in shares of Cummins by 6.4% during the fourth quarter. Parallel Advisors LLC now owns 5,004 shares of the company’s stock valued at $884,000 after purchasing an additional 303 shares during the last quarter. Sowell Financial Services LLC grew its stake in shares of Cummins by 16.8% during the first quarter. Sowell Financial Services LLC now owns 2,395 shares of the company’s stock valued at $350,000 after purchasing an additional 344 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Cummins by 6.3% during the first quarter. Stratos Wealth Partners LTD. now owns 6,082 shares of the company’s stock valued at $986,000 after purchasing an additional 359 shares during the last quarter. South Street Advisors LLC grew its stake in shares of Cummins by 0.6% during the first quarter. South Street Advisors LLC now owns 59,366 shares of the company’s stock valued at $9,622,000 after purchasing an additional 360 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Cummins by 3.0% during the first quarter. Blair William & Co. IL now owns 12,799 shares of the company’s stock valued at $2,075,000 after purchasing an additional 375 shares during the last quarter. 81.11% of the stock is owned by institutional investors.
Cummins opened at $132.25 on Tuesday, MarketBeat.com reports. Cummins has a 12-month low of $130.84 and a 12-month high of $194.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 0.99. The stock has a market capitalization of $21.91 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.90 and a beta of 1.15.
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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