Zacks: Analysts Anticipate Cummins Inc. (CMI) Will Announce Quarterly Sales of $5.13 Billion

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.

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About Cummins

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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