Wall Street brokerages forecast that Cummins Inc. (NYSE:CMI – Get Rating) will report $6.03 billion in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Cummins’ earnings, with the highest sales estimate coming in at $6.25 billion and the lowest estimate coming in at $5.88 billion. Cummins reported sales of $6.09 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1%. The company is expected to announce its next quarterly earnings results before the market opens on Monday, January 1st.
On average, analysts expect that Cummins will report full-year sales of $25.59 billion for the current fiscal year, with estimates ranging from $25.46 billion to $25.92 billion. For the next year, analysts expect that the business will post sales of $27.90 billion, with estimates ranging from $26.89 billion to $31.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Cummins.
Cummins (NYSE:CMI – Get Rating) last released its quarterly earnings results on Thursday, February 3rd. The company reported $2.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($0.23). Cummins had a return on equity of 23.63% and a net margin of 8.87%. The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the business earned $3.36 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year.
NYSE CMI opened at $189.19 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.38. Cummins has a 52-week low of $188.42 and a 52-week high of $273.65. The business’s 50-day moving average price is $201.11 and its 200 day moving average price is $217.87. The firm has a market cap of $26.88 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.34 and a beta of 1.04.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 3rd. Stockholders of record on Friday, February 18th were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, February 17th. Cummins’s dividend payout ratio (DPR) is 39.75%.
In related news, VP Christopher C. Clulow sold 285 shares of Cummins stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $205.04, for a total transaction of $58,436.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Norman Thomas Linebarger sold 37,510 shares of Cummins stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $207.09, for a total value of $7,767,945.90. The disclosure for this sale can be found here. Insiders have sold a total of 44,348 shares of company stock valued at $9,180,117 over the last 90 days. Insiders own 1.00% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of CMI. Eagle Capital Management LLC raised its holdings in Cummins by 1.7% in the 2nd quarter. Eagle Capital Management LLC now owns 15,644 shares of the company’s stock valued at $3,814,000 after acquiring an additional 260 shares during the last quarter. SG Americas Securities LLC raised its holdings in Cummins by 58.1% in the 3rd quarter. SG Americas Securities LLC now owns 6,352 shares of the company’s stock valued at $1,426,000 after acquiring an additional 2,335 shares during the last quarter. Van ECK Associates Corp raised its holdings in Cummins by 9.4% in the 3rd quarter. Van ECK Associates Corp now owns 13,964 shares of the company’s stock valued at $3,136,000 after acquiring an additional 1,199 shares during the last quarter. Deutsche Bank AG raised its holdings in Cummins by 25.8% in the 3rd quarter. Deutsche Bank AG now owns 901,110 shares of the company’s stock valued at $202,354,000 after acquiring an additional 185,031 shares during the last quarter. Finally, Lincoln National Corp raised its holdings in Cummins by 7.3% in the 3rd quarter. Lincoln National Corp now owns 1,561 shares of the company’s stock valued at $350,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.
Cummins Company Profile (Get Rating)
Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power. The company offers 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; and offers new parts and services, as well as remanufactured parts and engines.
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