Wall Street analysts forecast that Cummins Inc. (NYSE:CMI) will post $5.17 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Cummins’ earnings. The lowest sales estimate is $5.11 billion and the highest is $5.22 billion. Cummins reported sales of $4.50 billion during the same quarter last year, which indicates a positive year over year growth rate of 14.9%. The company is expected to announce its next quarterly earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Cummins will report full-year sales of $5.17 billion for the current fiscal year, with estimates ranging from $20.00 billion to $20.24 billion. For the next year, analysts forecast that the firm will post sales of $21.48 billion per share, with estimates ranging from $20.75 billion to $21.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Cummins.
Cummins (NYSE:CMI) last released 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 business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.02 EPS.
Several research firms recently issued reports on CMI. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research note on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and issued a $190.00 price target (up from $186.00) on shares of Cummins in a research note on Wednesday, November 1st. Citigroup boosted their price target on Cummins from $175.00 to $183.00 and gave the company a “neutral” rating in a research note on Friday, October 13th. Piper Jaffray Companies set a $175.00 price target on Cummins and gave the company a “hold” rating in a research note on Sunday, December 10th. Finally, Robert W. Baird reiterated a “sell” rating and set a $153.00 target price on shares of Cummins in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $178.69.
Large investors have recently added to or reduced their stakes in the company. Good Life Advisors LLC raised its holdings in shares of Cummins by 0.6% during the 2nd quarter. Good Life Advisors LLC now owns 1,481 shares of the company’s stock worth $243,000 after buying an additional 9 shares in the last quarter. Northwest Quadrant Wealth Management LLC raised its holdings in shares of Cummins by 0.5% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 2,251 shares of the company’s stock worth $360,000 after buying an additional 11 shares in the last quarter. ETRADE Capital Management LLC raised its holdings in shares of Cummins by 1.4% during the 2nd quarter. ETRADE Capital Management LLC now owns 2,027 shares of the company’s stock worth $329,000 after buying an additional 27 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Cummins by 0.3% during the 2nd quarter. Advisory Services Network LLC now owns 15,459 shares of the company’s stock worth $2,508,000 after buying an additional 51 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in shares of Cummins by 2.6% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,016 shares of the company’s stock worth $327,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 82.31% of the company’s stock.
Cummins (NYSE:CMI) traded up $0.96 on Thursday, reaching $177.20. The company had a trading volume of 679,012 shares, compared to its average volume of 1,301,153. The company has a market cap of $29,290.00, a P/E ratio of 18.01, a PEG ratio of 1.45 and a beta of 1.13. Cummins has a twelve month low of $134.06 and a twelve month 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 business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a dividend of $1.08 per share. The ex-dividend date was Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.44%. Cummins’s payout ratio is 43.90%.
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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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