Cummins (NYSE:CMI) – Investment analysts at Piper Jaffray raised their Q1 2018 earnings per share (EPS) estimates for Cummins in a research note issued to investors on Thursday, April 5th, Zacks Investment Research reports. Piper Jaffray analyst A. Potter now forecasts that the company will post earnings of $3.02 per share for the quarter, up from their previous forecast of $2.87. Piper Jaffray currently has a “Hold” rating and a $164.00 price objective on the stock. Piper Jaffray also issued estimates for Cummins’ Q2 2018 earnings at $3.30 EPS, Q3 2018 earnings at $3.22 EPS, Q4 2018 earnings at $3.37 EPS, FY2018 earnings at $12.91 EPS, Q1 2019 earnings at $3.06 EPS, Q2 2019 earnings at $3.50 EPS, Q3 2019 earnings at $3.41 EPS, Q4 2019 earnings at $3.71 EPS, FY2020 earnings at $13.55 EPS, FY2021 earnings at $14.55 EPS and FY2022 earnings at $15.05 EPS.
Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.38. The company had revenue of $5.48 billion for 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%. 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.
Other research analysts have also issued reports about the stock. Citigroup lifted their price objective on shares of Cummins from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Robert W. Baird lifted their target price on shares of Cummins from $157.00 to $159.00 and gave the company an “underperform” rating in a report on Wednesday, February 7th. Deutsche Bank set a $169.00 target price on shares of Cummins and gave the company a “sell” rating in a report on Monday, February 5th. William Blair reaffirmed a “hold” rating on shares of Cummins in a report on Tuesday, February 13th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $191.00 target price (up previously from $180.00) on shares of Cummins in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cummins presently has an average rating of “Hold” and a consensus target price of $184.21.
NYSE CMI opened at $162.39 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $26,805.90, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.13 and a beta of 1.22. Cummins has a one year low of $143.83 and a one year high of $194.18.
A number of hedge funds have recently added to or reduced their stakes in the stock. Advisor Partners LLC boosted its holdings in Cummins by 8.1% during the fourth quarter. Advisor Partners LLC now owns 3,596 shares of the company’s stock worth $680,000 after buying an additional 269 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Cummins by 6.4% during the fourth quarter. Parallel Advisors LLC now owns 5,004 shares of the company’s stock worth $884,000 after buying an additional 303 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in Cummins by 1.1% during the fourth quarter. Baird Financial Group Inc. now owns 28,069 shares of the company’s stock worth $4,958,000 after buying an additional 310 shares in the last quarter. Kessler Investment Group LLC boosted its holdings in Cummins by 1.8% during the fourth quarter. Kessler Investment Group LLC now owns 18,785 shares of the company’s stock worth $3,318,000 after buying an additional 329 shares in the last quarter. Finally, Jacobs & Co. CA boosted its holdings in Cummins by 1.3% during the fourth quarter. Jacobs & Co. CA now owns 25,673 shares of the company’s stock worth $4,483,000 after buying an additional 330 shares in the last quarter. 84.18% of the stock is currently owned by hedge funds and other institutional investors.
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Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins and other customer brands for the heavy-and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.
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