Cummins Inc. (CMI) Expected to Announce Earnings of $2.60 Per Share
Equities research analysts expect that Cummins Inc. (NYSE:CMI) will post earnings per share (EPS) of $2.60 for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Cummins’ earnings, with estimates ranging from $2.31 to $3.00. Cummins reported earnings of $2.25 per share in the same quarter last year, which would suggest a positive year over year growth rate of 15.6%. The business is scheduled to announce its next earnings results on Thursday, February 8th.
According to Zacks, analysts expect that Cummins will report full year earnings of $10.19 per share for the current year, with EPS estimates ranging from $9.90 to $10.60. For the next financial year, analysts expect that the firm will report earnings of $11.62 per share, with EPS estimates ranging from $11.05 to $12.25. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Cummins.
Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.47 by $0.24. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $4.79 billion. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.02 EPS.
Several equities analysts recently issued reports on the company. Barclays assumed coverage on Cummins in a research report on Tuesday. They issued an “equal weight” rating and a $180.00 price target on the stock. Piper Jaffray Companies set a $175.00 target price on Cummins and gave the stock a “hold” rating in a research report on Sunday. Oppenheimer assumed coverage on Cummins in a research report on Thursday, December 7th. They set an “outperform” rating and a $192.00 target price on the stock. Goldman Sachs Group cut Cummins from a “buy” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, November 30th. Finally, ValuEngine cut Cummins from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $178.69.
Shares of Cummins (NYSE CMI) traded up $0.36 during mid-day trading on Friday, reaching $169.58. The company had a trading volume of 1,185,392 shares, compared to its average volume of 1,315,184. The firm has a market cap of $28,342.27, a PE ratio of 17.34, a PEG ratio of 1.41 and a beta of 1.13. Cummins has a 1 year low of $134.06 and a 1 year high of $181.79. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Thursday, November 16th. Cummins’s dividend payout ratio (DPR) is 43.86%.
Several large investors have recently made changes to their positions in the company. AXA boosted its stake in shares of Cummins by 9.9% during the 3rd quarter. AXA now owns 102,189 shares of the company’s stock worth $17,170,000 after acquiring an additional 9,189 shares in the last quarter. EagleClaw Capital Managment LLC purchased a new stake in shares of Cummins during the 3rd quarter worth approximately $201,000. Belpointe Asset Management LLC purchased a new stake in shares of Cummins during the 3rd quarter worth approximately $545,000. Cetera Advisors LLC boosted its stake in shares of Cummins by 34.3% during the 3rd quarter. Cetera Advisors LLC now owns 4,999 shares of the company’s stock worth $844,000 after acquiring an additional 1,276 shares in the last quarter. Finally, IFM Investors Pty Ltd purchased a new stake in shares of Cummins during the 3rd quarter worth approximately $742,000. 82.50% of the stock is currently owned by institutional investors and hedge funds.
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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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