Wall Street analysts expect that Cummins Inc. (NYSE:CMI) will report earnings of $3.70 per share for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Cummins’ earnings, with estimates ranging from $3.51 to $3.90. Cummins posted earnings of $2.71 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 36.5%. The business is expected to report its next quarterly earnings report on Tuesday, October 30th.

On average, analysts expect that Cummins will report full year earnings of $13.27 per share for the current fiscal year, with EPS estimates ranging from $12.90 to $13.72. For the next financial year, analysts forecast that the business will report earnings of $15.11 per share, with EPS estimates ranging from $14.06 to $16.50. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Cummins.

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

A number of research analysts recently issued reports on CMI shares. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, April 24th. UBS Group downgraded Cummins from a “neutral” rating to a “sell” rating and set a $136.00 price target on the stock. in a report on Tuesday, May 1st. Wells Fargo & Co downgraded Cummins from an “outperform” rating to a “market perform” rating and set a $190.00 price target on the stock. in a report on Tuesday, May 1st. Buckingham Research downgraded Cummins from a “buy” rating to a “neutral” rating and set a $195.00 price target on the stock. in a report on Wednesday, May 2nd. Finally, Stifel Nicolaus reduced their price target on Cummins from $180.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, May 2nd. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $166.95.

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

Several hedge funds have recently bought and sold shares of CMI. Boston Partners boosted its position in shares of Cummins by 45.4% in the 2nd quarter. Boston Partners now owns 4,918,989 shares of the company’s stock worth $654,225,000 after purchasing an additional 1,534,792 shares in the last quarter. LSV Asset Management boosted its position in shares of Cummins by 76.6% in the 2nd quarter. LSV Asset Management now owns 1,800,245 shares of the company’s stock worth $239,432,000 after purchasing an additional 781,118 shares in the last quarter. BlackRock Inc. boosted its position in shares of Cummins by 4.0% in the 1st quarter. BlackRock Inc. now owns 12,138,618 shares of the company’s stock worth $1,967,548,000 after purchasing an additional 463,368 shares in the last quarter. Millennium Management LLC boosted its position in shares of Cummins by 92.7% in the 1st quarter. Millennium Management LLC now owns 736,626 shares of the company’s stock worth $119,400,000 after purchasing an additional 354,266 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Cummins by 19.4% in the 1st quarter. Wells Fargo & Company MN now owns 1,972,366 shares of the company’s stock worth $319,699,000 after purchasing an additional 320,872 shares in the last quarter. Hedge funds and other institutional investors own 81.14% of the company’s stock.

Cummins traded down $1.73, reaching $140.29, during mid-day trading on Friday, MarketBeat.com reports. 876,310 shares of the company’s stock traded hands, compared to its average volume of 1,390,803. Cummins has a 12-month low of $129.90 and a 12-month high of $194.18. The company has a market cap of $23.40 billion, a PE ratio of 10.77, a P/E/G ratio of 0.82 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.61 and a quick ratio of 1.03.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Wednesday, August 22nd will be issued a dividend of $1.14 per share. This is an increase from Cummins’s previous quarterly dividend of $1.08. The ex-dividend date is Tuesday, August 21st. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.25%. Cummins’s dividend payout ratio is 40.68%.

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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