Equities research analysts expect that Cummins Inc. (NYSE:CMI) will announce sales of $5.13 billion for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Cummins’ earnings, with estimates ranging from $5.02 billion to $5.44 billion. Cummins reported 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 quarterly earnings results on Tuesday, May 1st.
On average, analysts expect that Cummins will report full year sales of $5.13 billion for the current fiscal year, with estimates ranging from $21.68 billion to $22.70 billion. For the next fiscal year, analysts anticipate that the business will post sales of $22.63 billion per share, with estimates ranging from $21.95 billion to $23.49 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Cummins.
Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.38. The business had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Cummins had a return on equity of 22.18% and a net margin of 4.89%. Cummins’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.25 earnings per share.
A number of research firms have recently issued reports on CMI. Seaport Global Securities restated a “neutral” rating on shares of Cummins in a research report on Tuesday, January 16th. Deutsche Bank set a $169.00 price objective on Cummins and gave the company a “sell” rating in a research report on Monday, February 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $182.00 price target on shares of Cummins in a research note on Monday, February 5th. Morgan Stanley began coverage on Cummins in a research note on Friday, March 2nd. They issued an “equal weight” rating and a $173.00 price target on the stock. Finally, ValuEngine raised Cummins from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the stock. Cummins has an average rating of “Hold” and an average target price of $186.39.
Shares of Cummins stock opened at $161.48 on Thursday. The stock has a market capitalization of $26,675.01, a P/E ratio of 15.15, a PEG ratio of 1.13 and a beta of 1.19. The company has a current ratio of 1.57, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. Cummins has a 1 year low of $143.83 and a 1 year high of $194.18.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Friday, February 23rd were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio is currently 72.61%.
Institutional investors have recently bought and sold shares of the business. Risk Paradigm Group LLC acquired a new position in Cummins in the fourth quarter worth $127,000. Bank of Nova Scotia Trust Co. acquired a new position in Cummins in the third quarter worth $168,000. Krilogy Financial LLC acquired a new position in Cummins in the third quarter worth $168,000. SeaCrest Wealth Management LLC acquired a new position in Cummins in the fourth quarter worth $205,000. Finally, Stock Yards Bank & Trust Co. acquired a new position in Cummins in the fourth quarter worth $206,000. 84.16% of the stock is currently owned by institutional investors.
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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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