Cummins’ (CMI) “Sell” Rating Reiterated at Robert W. Baird
A number of other equities research analysts also recently issued reports on the company. Buckingham Research increased their price objective on Cummins from $180.00 to $195.00 and gave the stock a buy rating in a research report on Wednesday. Piper Jaffray Companies set a $170.00 price objective on Cummins and gave the stock a hold rating in a research report on Tuesday, October 31st. Stifel Nicolaus reiterated a hold rating and issued a $190.00 price objective (up previously from $186.00) on shares of Cummins in a research report on Wednesday. Citigroup Inc. increased their price objective on Cummins from $175.00 to $183.00 and gave the stock a neutral rating in a research report on Friday, October 13th. Finally, Longbow Research downgraded Cummins from a buy rating to a neutral rating in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $168.91.
Shares of Cummins (CMI) opened at $173.07 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.15. Cummins has a 12-month low of $121.43 and a 12-month high of $181.79. The stock has a market capitalization of $28,723.91, a price-to-earnings ratio of 17.57, a P/E/G ratio of 1.39 and a beta of 1.16.
Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.47 by $0.24. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter last year, the business posted $2.02 earnings per share. The firm’s revenue was up 26.2% compared to the same quarter last year. analysts expect that Cummins will post 10.09 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 2.50%. Cummins’s dividend payout ratio is currently 43.86%.
In other news, Director Franklin R. Changdiaz sold 1,633 shares of Cummins stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total value of $260,087.91. Following the transaction, the director now owns 5,814 shares in the company, valued at $925,995.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.62% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CMI. Carroll Financial Associates Inc. grew its stake in shares of Cummins by 13.4% in the second quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock worth $113,000 after purchasing an additional 83 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Cummins in the third quarter worth about $132,000. Captrust Financial Advisors bought a new stake in shares of Cummins in the second quarter worth about $137,000. Acrospire Investment Management LLC bought a new stake in shares of Cummins in the second quarter worth about $146,000. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Cummins in the first quarter worth about $150,000. 81.05% of the stock is currently owned by institutional investors.
Cummins Company Profile
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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