Cummins Inc. (NYSE:CMI) – Equities researchers at Jefferies Group upped their FY2018 earnings per share (EPS) estimates for shares of Cummins in a research report issued on Wednesday. Jefferies Group analyst S. Volkmann now anticipates that the company will earn $12.50 per share for the year, up from their prior forecast of $11.60. Jefferies Group currently has a “Hold” rating and a $180.00 price target on the stock. Jefferies Group also issued estimates for Cummins’ FY2019 earnings at $13.50 EPS and FY2020 earnings at $14.25 EPS.
A number of other brokerages also recently issued reports on CMI. ValuEngine raised shares of Cummins from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Barclays reissued an “equal weight” rating and issued a $191.00 price target (up from $180.00) on shares of Cummins in a report on Wednesday, January 24th. Oppenheimer increased their price target on shares of Cummins to $207.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $182.00 price target on shares of Cummins in a report on Monday, February 5th. Finally, Citigroup increased their price target on shares of Cummins from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $188.18.
Shares of Cummins (CMI) opened at $164.05 on Friday. Cummins has a fifty-two week low of $143.83 and a fifty-two week high of $194.18. The stock has a market cap of $27,230.00, a PE ratio of 27.62, a PEG ratio of 1.18 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03.
Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.38. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the prior year, the firm posted $2.25 earnings per share. The company’s revenue for the quarter was up 21.6% on a year-over-year basis.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Cummins by 8.3% in the fourth quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock valued at $2,062,319,000 after purchasing an additional 898,512 shares in the last quarter. Boston Partners raised its stake in Cummins by 33.1% in the fourth quarter. Boston Partners now owns 3,296,825 shares of the company’s stock valued at $582,351,000 after purchasing an additional 819,719 shares in the last quarter. APG Asset Management N.V. raised its stake in Cummins by 5.4% in the fourth quarter. APG Asset Management N.V. now owns 2,065,872 shares of the company’s stock valued at $303,894,000 after purchasing an additional 105,100 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Cummins by 2.0% in the third quarter. First Eagle Investment Management LLC now owns 1,997,863 shares of the company’s stock valued at $335,701,000 after purchasing an additional 39,674 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Cummins by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,991,974 shares of the company’s stock valued at $351,862,000 after purchasing an additional 17,704 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.
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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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