Cummins Inc. (NYSE:CMI) – Equities researchers at William Blair raised their Q4 2017 EPS estimates for shares of Cummins in a research report issued to clients and investors on Wednesday. William Blair analyst L. De. Maria now anticipates that the company will post earnings of $2.53 per share for the quarter, up from their previous estimate of $2.22.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company raised shares of Cummins from a “market perform” rating to an “outperform” rating in a research note on Monday, April 17th. Piper Jaffray Companies downgraded shares of Cummins from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $160.00 to $144.00 in a research note on Tuesday, April 18th. ValuEngine raised shares of Cummins from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $150.00 price objective on shares of Cummins in a research note on Wednesday, April 12th. Finally, Zacks Investment Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $154.33.

ILLEGAL ACTIVITY NOTICE: This news story was reported by Daily Political and is owned by of Daily Political. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://www.dailypolitical.com/2017/08/09/cummins-inc-cmi-to-post-q4-2017-earnings-of-2-53-per-share-william-blair-forecasts.html.

Shares of Cummins (NYSE CMI) traded down 0.05% during mid-day trading on Monday, reaching $159.74. The company’s stock had a trading volume of 397,118 shares. The firm has a market cap of $26.68 billion, a price-to-earnings ratio of 18.06 and a beta of 1.09. Cummins has a 12 month low of $116.03 and a 12 month high of $170.68. The company’s 50-day moving average is $163.10 and its 200 day moving average is $154.60.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $2.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.58 by $0.05. Cummins had a return on equity of 20.67% and a net margin of 8.10%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the business posted $2.40 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis.

Large investors have recently made changes to their positions in the company. Pinnacle Bank acquired a new stake in shares of Cummins during the first quarter worth $105,000. World Asset Management Inc boosted its stake in shares of Cummins by 10.1% in the first quarter. World Asset Management Inc now owns 16,701 shares of the company’s stock worth $2,525,000 after buying an additional 1,528 shares during the period. Private Trust Co. NA acquired a new stake in shares of Cummins during the first quarter worth $250,000. Alambic Investment Management L.P. boosted its stake in shares of Cummins by 0.7% in the first quarter. Alambic Investment Management L.P. now owns 2,416 shares of the company’s stock worth $365,000 after buying an additional 16 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Cummins by 8.6% in the first quarter. Bank of America Corp DE now owns 780,787 shares of the company’s stock worth $118,055,000 after buying an additional 62,046 shares during the period. Institutional investors and hedge funds own 80.34% of the company’s stock.

In other Cummins news, Director Georgia R. Nelson sold 1,086 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $156.10, for a total value of $169,524.60. Following the sale, the director now owns 16,512 shares in the company, valued at $2,577,523.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Anant Talaulicar sold 1,650 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $157.50, for a total transaction of $259,875.00. Following the completion of the sale, the vice president now owns 13,029 shares in the company, valued at approximately $2,052,067.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,336 shares of company stock worth $9,793,667. Corporate insiders own 0.62% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Wednesday, August 16th. This is a boost from Cummins’s previous quarterly dividend of $1.03. Cummins’s dividend payout ratio is 46.28%.

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.

Earnings History and Estimates for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins Inc. and related companies with MarketBeat.com's FREE daily email newsletter.