Cummins Inc. (NYSE:CMI) Expected to Post Earnings of $4.46 Per Share

Equities research analysts forecast that Cummins Inc. (NYSE:CMIGet Rating) will post earnings of $4.46 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Cummins’ earnings. The highest EPS estimate is $4.90 and the lowest is $4.25. Cummins posted earnings per share of $4.15 in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.5%. The business is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Cummins will report full-year earnings of $17.68 per share for the current financial year, with EPS estimates ranging from $17.00 to $18.30. For the next financial year, analysts anticipate that the firm will report earnings of $20.67 per share, with EPS estimates ranging from $19.50 to $23.52. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Cummins.

Cummins (NYSE:CMIGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.55 by $0.49. The firm had revenue of $6.39 billion during the quarter, compared to analysts’ expectations of $6.06 billion. Cummins had a net margin of 8.00% and a return on equity of 23.19%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.04 earnings per share.

A number of research analysts have issued reports on the stock. Credit Suisse Group dropped their target price on shares of Cummins from $304.00 to $270.00 in a report on Wednesday, May 4th. Citigroup dropped their target price on shares of Cummins from $260.00 to $220.00 in a report on Tuesday, April 12th. Zacks Investment Research raised shares of Cummins from a “sell” rating to a “hold” rating and set a $204.00 price objective for the company in a research note on Friday, April 15th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. Finally, UBS Group cut shares of Cummins from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $260.00 to $214.00 in a research note on Friday, March 18th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Cummins has a consensus rating of “Buy” and a consensus price target of $248.30.

Shares of Cummins stock opened at $197.31 on Wednesday. Cummins has a 12-month low of $187.72 and a 12-month high of $265.09. The company has a current ratio of 1.68, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market cap of $27.84 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.29 and a beta of 1.03. The company has a 50-day moving average of $201.23 and a two-hundred day moving average of $213.89.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Friday, May 20th will be paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Thursday, May 19th. Cummins’s payout ratio is 43.15%.

In related news, VP Christopher C. Clulow sold 285 shares of the company’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $205.04, for a total transaction of $58,436.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Norman Thomas Linebarger sold 37,510 shares of the company’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $207.09, for a total transaction of $7,767,945.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,001 shares of company stock valued at $11,154,052. Company insiders own 1.00% of the company’s stock.

Large investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. raised its holdings in Cummins by 11.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 13,528 shares of the company’s stock worth $2,951,000 after buying an additional 1,353 shares during the period. Capital Investment Advisors LLC boosted its position in Cummins by 5.0% during the fourth quarter. Capital Investment Advisors LLC now owns 90,352 shares of the company’s stock worth $19,709,000 after purchasing an additional 4,310 shares during the period. Assenagon Asset Management S.A. boosted its position in Cummins by 1,947.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 174,867 shares of the company’s stock worth $38,145,000 after purchasing an additional 166,327 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Cummins by 4.0% in the third quarter. UBS Asset Management Americas Inc. now owns 1,248,550 shares of the company’s stock valued at $280,374,000 after acquiring an additional 48,188 shares during the period. Finally, KG&L Capital Management LLC bought a new stake in shares of Cummins in the fourth quarter valued at about $273,000. 80.50% of the stock is currently owned by hedge funds and other institutional investors.

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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