Equities research analysts forecast that Cummins Inc. (NYSE:CMI) will post $3.68 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Cummins’ earnings, with the highest EPS estimate coming in at $3.90 and the lowest estimate coming in at $3.51. Cummins posted earnings per share of $2.71 in the same quarter last year, which would suggest a positive year over year growth rate of 35.8%. The company is expected to announce its next quarterly earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that Cummins will report full-year earnings of $13.27 per share for the current year, with EPS estimates ranging from $12.90 to $13.72. For the next year, analysts anticipate that the firm will report earnings of $15.12 per share, with EPS estimates ranging from $14.06 to $16.50. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Cummins.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, July 31st. The company reported $3.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.63 by ($0.31). The firm had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $5.81 billion. Cummins had a net margin of 4.67% and a return on equity of 26.30%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.53 earnings per share.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a research note on Tuesday, July 3rd. Stifel Nicolaus boosted their price target on Cummins from $160.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Oppenheimer cut their target price on Cummins from $168.00 to $192.00 and set an “outperform” rating for the company in a research report on Monday, July 23rd. Mizuho initiated coverage on Cummins in a research report on Friday, June 29th. They set a “neutral” rating and a $150.00 target price for the company. Finally, ValuEngine downgraded Cummins from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 13th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $165.33.

In related news, Director Alexis M. Herman sold 735 shares of the company’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $139.90, for a total transaction of $102,826.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Tracy A. Embree sold 462 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $141.70, for a total value of $65,465.40. Following the sale, the vice president now owns 4,122 shares of the company’s stock, valued at $584,087.40. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CMI. Financial Gravity Wealth Inc. bought a new stake in shares of Cummins during the 1st quarter worth $400,000. Neuberger Berman Group LLC lifted its position in shares of Cummins by 25.4% during the 1st quarter. Neuberger Berman Group LLC now owns 39,339 shares of the company’s stock worth $6,401,000 after buying an additional 7,962 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Cummins by 8.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,775 shares of the company’s stock worth $1,098,000 after buying an additional 551 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Cummins by 6.8% during the 1st quarter. IFP Advisors Inc now owns 6,989 shares of the company’s stock worth $1,133,000 after buying an additional 448 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Cummins by 24.8% during the 1st quarter. Toronto Dominion Bank now owns 84,085 shares of the company’s stock worth $13,626,000 after buying an additional 16,692 shares during the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

CMI opened at $147.19 on Tuesday. The firm has a market capitalization of $24.23 billion, a P/E ratio of 11.16, a PEG ratio of 0.85 and a beta of 1.15. Cummins has a 1 year low of $129.90 and a 1 year high of $194.18. The company has a quick ratio of 1.03, a current ratio of 1.61 and a debt-to-equity ratio of 0.19.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Wednesday, August 22nd were given a dividend of $1.14 per share. This is an increase from Cummins’s previous quarterly dividend of $1.08. This represents a $4.56 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Tuesday, August 21st. Cummins’s dividend payout ratio is currently 42.94%.

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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