$2.86 EPS Expected for Cummins Inc. (CMI) This Quarter
Analysts forecast that Cummins Inc. (NYSE:CMI) will report earnings per share of $2.86 for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Cummins’ earnings, with the lowest EPS estimate coming in at $2.73 and the highest estimate coming in at $2.95. Cummins posted earnings of $2.36 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 21.2%. The firm is scheduled to report its next earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that Cummins will report full year earnings of $12.51 per share for the current fiscal year, with EPS estimates ranging from $11.33 to $12.90. For the next financial year, analysts expect that the business will report earnings of $13.28 per share, with EPS estimates ranging from $12.52 to $13.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Cummins.
Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.38. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same period in the prior year, the firm earned $2.25 earnings per share. The business’s quarterly revenue was up 21.6% compared to the same quarter last year.
Cummins (NYSE:CMI) traded down $0.95 during mid-day trading on Wednesday, hitting $164.68. 983,706 shares of the company were exchanged, compared to its average volume of 1,504,566. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.01. Cummins has a 12-month low of $143.83 and a 12-month high of $194.18. The stock has a market capitalization of $27,330.00, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.17 and a beta of 1.14.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Friday, February 23rd will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.62%. Cummins’s dividend payout ratio is currently 72.73%.
A number of institutional investors have recently made changes to their positions in the business. Hall Laurie J Trustee grew its position in shares of Cummins by 841.7% during the fourth quarter. Hall Laurie J Trustee now owns 2,260 shares of the company’s stock worth $101,000 after acquiring an additional 2,020 shares during the last quarter. Risk Paradigm Group LLC purchased a new position in shares of Cummins during the fourth quarter worth approximately $127,000. Northwest Investment Counselors LLC purchased a new position in shares of Cummins during the third quarter worth approximately $132,000. Bank of Nova Scotia Trust Co. purchased a new position in shares of Cummins during the third quarter worth approximately $168,000. Finally, Krilogy Financial LLC purchased a new position in shares of Cummins during the third quarter worth approximately $168,000. Institutional investors own 83.06% of the company’s stock.
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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