Cummins Inc. (CMI) Receives $165.86 Average PT from Brokerages
Cummins Inc. (NYSE:CMI) has been given a consensus rating of “Hold” by the twenty-seven ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $166.10.
Several research analysts have recently issued reports on the company. Zacks Investment Research cut Cummins from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. cut Cummins from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $156.00 to $137.00 in a research note on Friday, August 24th. Bank of America increased their price target on Cummins from $154.00 to $157.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 1st. Credit Suisse Group cut their price objective on Cummins from $175.00 to $171.00 and set an “outperform” rating for the company in a report on Wednesday, August 1st. Finally, Wells Fargo & Co set a $158.00 price objective on Cummins and gave the company a “hold” rating in a report on Wednesday, August 1st.
In other news, 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 transaction of $65,465.40. Following the completion of the sale, the vice president now directly owns 4,122 shares of the company’s stock, valued at $584,087.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alexis M. Herman sold 735 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were 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. Corporate insiders own 0.67% of the company’s stock.
Shares of NYSE:CMI traded down $1.81 on Tuesday, hitting $139.99. The company’s stock had a trading volume of 1,618,400 shares, compared to its average volume of 1,532,145. Cummins has a 12 month low of $129.90 and a 12 month high of $194.18. The stock has a market cap of $23.36 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 0.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.61.
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). Cummins had a return on equity of 26.30% and a net margin of 4.67%. The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the company posted $2.53 EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. equities research analysts predict that Cummins will post 14.94 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 22nd will be issued a $1.14 dividend. This is a positive change from Cummins’s previous quarterly dividend of $1.08. The ex-dividend date is Tuesday, August 21st. This represents a $4.56 annualized dividend and a dividend yield of 3.26%. Cummins’s dividend payout ratio is 42.94%.
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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