Wall Street analysts expect Cummins Inc. (NYSE:CMI) to report $5.13 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Cummins’ earnings. The lowest sales estimate is $5.02 billion and the highest is $5.44 billion. Cummins posted sales of $4.59 billion in the same quarter last year, which would indicate a positive year over year growth rate of 11.8%. The firm is expected to report its next earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Cummins will report full year sales of $5.13 billion for the current year, with estimates ranging from $21.68 billion to $22.70 billion. For the next year, analysts forecast that the firm will report sales of $22.63 billion per share, with estimates ranging from $21.95 billion to $23.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Cummins.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 EPS for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.38. The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.23 billion. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.25 earnings per share.
A number of research analysts have recently commented on the stock. Credit Suisse Group cut their price objective on shares of Cummins from $208.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Stifel Nicolaus reissued a “hold” rating and issued a $182.00 target price on shares of Cummins in a research note on Monday, February 5th. TheStreet cut shares of Cummins from a “b” rating to a “c+” rating in a research note on Tuesday, February 6th. Zacks Investment Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $193.00 target price on the stock in a research note on Friday, February 9th. Finally, William Blair reissued a “hold” rating on shares of Cummins in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $188.18.
Shares of Cummins (NYSE CMI) traded up $0.58 on Friday, hitting $165.60. 1,421,700 shares of the stock were exchanged, compared to its average volume of 1,544,776. The firm has a market capitalization of $27,480.00, a price-to-earnings ratio of 27.88, a P/E/G ratio of 1.16 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 1.01. Cummins has a 1-year low of $143.83 and a 1-year high of $194.18.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Friday, February 23rd will be paid a dividend of $1.08 per share. The ex-dividend date is Thursday, February 22nd. This represents a $4.32 annualized dividend and a yield of 2.61%. Cummins’s dividend payout ratio is 72.73%.
A number of institutional investors have recently modified their holdings of CMI. Hall Laurie J Trustee grew its stake in Cummins by 841.7% during the fourth quarter. Hall Laurie J Trustee now owns 2,260 shares of the company’s stock worth $101,000 after buying an additional 2,020 shares during the last quarter. Risk Paradigm Group LLC bought a new stake in Cummins during the fourth quarter worth about $127,000. Northwest Investment Counselors LLC bought a new stake in Cummins during the third quarter worth about $132,000. Bank of Nova Scotia Trust Co. bought a new stake in Cummins during the third quarter worth about $168,000. Finally, Krilogy Financial LLC bought a new stake in Cummins during the third quarter worth about $168,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This report was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://ledgergazette.com/2018/02/19/zacks-analysts-anticipate-cummins-inc-cmi-will-announce-quarterly-sales-of-5-13-billion.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.