Wall Street analysts predict that Cummins Inc. (NYSE:CMI) will post earnings per share of $3.14 for the current quarter, Zacks reports. Six analysts have made estimates for Cummins’ earnings. The highest EPS estimate is $3.62 and the lowest is $2.87. Cummins reported earnings per share of $3.36 in the same quarter last year, which indicates a negative year-over-year growth rate of 6.5%. The company is expected to issue its next earnings report on Thursday, February 3rd.
According to Zacks, analysts expect that Cummins will report full year earnings of $15.31 per share for the current financial year, with EPS estimates ranging from $14.80 to $16.50. For the next financial year, analysts forecast that the firm will post earnings of $18.58 per share, with EPS estimates ranging from $16.83 to $20.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Cummins.
Cummins (NYSE:CMI) last issued its earnings results on Monday, November 1st. The company reported $3.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.99 by ($0.30). Cummins had a net margin of 9.32% and a return on equity of 24.91%. During the same quarter in the previous year, the firm earned $3.57 earnings per share.
A number of brokerages have issued reports on CMI. Evercore ISI dropped their target price on shares of Cummins from $315.00 to $299.00 and set an “outperform” rating for the company in a report on Thursday, October 14th. Morgan Stanley raised their price objective on shares of Cummins from $252.00 to $262.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 3rd. Citigroup raised their price objective on shares of Cummins from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, October 12th. Credit Suisse Group raised their price objective on shares of Cummins from $295.00 to $304.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 3rd. Finally, The Goldman Sachs Group cut shares of Cummins from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $270.00 to $230.00 in a research note on Tuesday, August 24th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Cummins presently has a consensus rating of “Buy” and an average target price of $284.36.
In other Cummins news, VP Walter J. Fier sold 7,360 shares of Cummins stock in a transaction on Thursday, November 11th. The shares were sold at an average price of $235.70, for a total value of $1,734,752.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Tony Satterthwaite sold 9,190 shares of Cummins stock in a transaction on Tuesday, November 23rd. The shares were sold at an average price of $226.72, for a total transaction of $2,083,556.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,550 shares of company stock worth $4,052,119. 1.00% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Trustcore Financial Services LLC lifted its holdings in shares of Cummins by 500.0% during the 3rd quarter. Trustcore Financial Services LLC now owns 120 shares of the company’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. CKW Financial Group acquired a new position in shares of Cummins during the 2nd quarter valued at $32,000. KB Financial Partners LLC lifted its holdings in shares of Cummins by 47.8% during the 2nd quarter. KB Financial Partners LLC now owns 136 shares of the company’s stock valued at $33,000 after acquiring an additional 44 shares in the last quarter. Kempen Capital Management N.V. lifted its holdings in shares of Cummins by 41.3% during the 2nd quarter. Kempen Capital Management N.V. now owns 154 shares of the company’s stock valued at $38,000 after acquiring an additional 45 shares in the last quarter. Finally, Canton Hathaway LLC acquired a new position in shares of Cummins during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 80.39% of the company’s stock.
Shares of Cummins stock opened at $217.03 on Monday. Cummins has a 12-month low of $209.09 and a 12-month high of $277.09. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 0.40. The stock has a market cap of $31.04 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. The company has a 50-day moving average of $232.25 and a two-hundred day moving average of $237.17.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 2nd. Investors of record on Friday, November 19th were given a dividend of $1.45 per share. The ex-dividend date was Thursday, November 18th. This represents a $5.80 dividend on an annualized basis and a yield of 2.67%. Cummins’s dividend payout ratio (DPR) is currently 38.11%.
Cummins Company Profile
Cummins, Inc designs, manufactures and markets diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.