Cummins Inc. (NYSE:CMI) had its price target upped by Jefferies Group LLC from $165.00 to $180.00 in a research note released on Wednesday, November 1st. Jefferies Group LLC currently has a hold rating on the stock. Jefferies Group also issued estimates for Cummins’ FY2017 earnings at $10.60 EPS, Q1 2018 earnings at $2.70 EPS, Q2 2018 earnings at $2.90 EPS, Q3 2018 earnings at $2.80 EPS, FY2018 earnings at $11.60 EPS and FY2019 earnings at $12.40 EPS.
Several other research analysts have also weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Cummins from $160.00 to $168.00 and gave the stock a hold rating in a report on Wednesday, August 2nd. Royal Bank Of Canada reissued a hold rating and set a $166.00 price objective on shares of Cummins in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of Cummins from a buy rating to a hold rating in a report on Wednesday, July 12th. Deutsche Bank AG decreased their price target on shares of Cummins from $155.00 to $147.00 and set a sell rating for the company in a report on Wednesday, August 2nd. Finally, Piper Jaffray Companies reiterated a hold rating and issued a $161.00 price objective on shares of Cummins in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $173.96.
Cummins (CMI) opened at $168.95 on Wednesday. Cummins has a one year low of $133.16 and a one year high of $181.79. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The company has a market cap of $28,040.21, a price-to-earnings ratio of 17.15, a PEG ratio of 1.38 and a beta of 1.16.
Cummins (NYSE:CMI) last issued its earnings results on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, beating the Zacks’ consensus estimate of $2.47 by $0.24. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.02 EPS. sell-side analysts forecast that Cummins will post 10.12 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, November 16th. Cummins’s payout ratio is 43.86%.
Several institutional investors have recently modified their holdings of the company. Zeke Capital Advisors LLC lifted its stake in shares of Cummins by 56.6% in the third quarter. Zeke Capital Advisors LLC now owns 2,047 shares of the company’s stock worth $344,000 after buying an additional 740 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Cummins by 2.1% in the third quarter. Amalgamated Bank now owns 18,510 shares of the company’s stock worth $3,110,000 after buying an additional 378 shares during the last quarter. Cadence Capital Management LLC raised its stake in Cummins by 21.2% during the 3rd quarter. Cadence Capital Management LLC now owns 31,845 shares of the company’s stock valued at $5,351,000 after purchasing an additional 5,581 shares during the last quarter. BKS Advisors LLC acquired a new position in Cummins during the 3rd quarter valued at $202,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Cummins by 11.6% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,846 shares of the company’s stock valued at $2,159,000 after purchasing an additional 1,333 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.
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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