Cummins Inc. (CMI) Earns “Hold” Rating from Stifel Nicolaus
Stifel Nicolaus reaffirmed their hold rating on shares of Cummins Inc. (NYSE:CMI) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. Stifel Nicolaus currently has a $190.00 price target on the stock, up from their prior price target of $186.00.
CMI has been the subject of a number of other reports. Deutsche Bank AG raised their price target on shares of Cummins from $139.00 to $142.00 and gave the stock a sell rating in a research report on Tuesday, July 4th. Zacks Investment Research lowered shares of Cummins from a buy rating to a hold rating in a research report on Wednesday, August 30th. Robert W. Baird reissued a sell rating and set a $153.00 price target on shares of Cummins in a research report on Thursday, October 12th. Jefferies Group LLC reissued a hold rating and set a $165.00 price target on shares of Cummins in a research report on Thursday, September 7th. Finally, ValuEngine lowered shares of Cummins from a buy rating to a hold rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus 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 quick ratio of 1.15 and a current ratio of 1.57. The company has a market capitalization of $28.76 billion, a P/E ratio of 17.59, a P/E/G ratio of 1.40 and a beta of 1.16.
Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.24. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $4.79 billion. During the same period last year, the firm posted $2.02 EPS. Cummins’s revenue for the quarter was up 26.2% compared to the same quarter last year. research analysts expect that Cummins will post 10.04 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a yield of 2.50%. Cummins’s dividend payout ratio is currently 43.86%.
In related news, Director Franklin R. Changdiaz sold 1,633 shares of Cummins stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $159.27, for a total value of $260,087.91. Following the sale, the director now owns 5,814 shares of the company’s stock, valued at approximately $925,995.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Carroll Financial Associates Inc. boosted its stake in Cummins by 13.4% during the 2nd 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 acquired a new stake in Cummins during the 3rd quarter worth $132,000. Captrust Financial Advisors acquired a new stake in Cummins during the 2nd quarter worth $137,000. Acrospire Investment Management LLC acquired a new stake in Cummins during the 2nd quarter worth $146,000. Finally, Harbour Capital Advisors LLC acquired a new stake in Cummins during the 1st quarter worth $150,000. 81.05% of the stock is currently owned by institutional investors.
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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