Wall Street brokerages expect Cummins Inc. (NYSE:CMI) to post $2.59 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have issued estimates for Cummins’ earnings, with estimates ranging from $2.31 to $3.00. Cummins reported earnings per share of $2.25 in the same quarter last year, which suggests a positive year-over-year growth rate of 15.1%. The company is scheduled to issue its next earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Cummins will report full year earnings of $10.19 per share for the current financial year, with EPS estimates ranging from $9.90 to $10.60. For the next year, analysts anticipate that the firm will post earnings of $11.60 per share, with EPS estimates ranging from $11.05 to $12.25. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Cummins.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.24. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $4.79 billion. During the same period in the previous year, the business earned $2.02 EPS. Cummins’s revenue was up 26.2% compared to the same quarter last year.

Several brokerages have commented on CMI. Zacks Investment Research downgraded shares of Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Royal Bank Of Canada raised their price target on shares of Cummins from $169.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, November 2nd. Robert W. Baird reissued a “sell” rating and issued a $153.00 price target on shares of Cummins in a report on Thursday, October 12th. Jefferies Group reissued a “hold” rating and issued a $165.00 price target on shares of Cummins in a report on Thursday, September 7th. Finally, Piper Jaffray Companies set a $170.00 price target on shares of Cummins and gave the company a “hold” rating in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $176.41.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in shares of Cummins during the 3rd quarter worth $132,000. Captrust Financial Advisors bought a new stake in shares of Cummins during the 2nd quarter worth $137,000. Acrospire Investment Management LLC bought a new stake in shares of Cummins during the 2nd quarter worth $146,000. First Interstate Bank lifted its holdings in shares of Cummins by 2.7% during the 2nd quarter. First Interstate Bank now owns 956 shares of the company’s stock worth $155,000 after acquiring an additional 25 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. bought a new stake in shares of Cummins during the 3rd quarter worth $168,000. 82.50% of the stock is owned by institutional investors.

Cummins (NYSE:CMI) opened at $169.30 on Friday. Cummins has a one year low of $134.06 and a one year high of $181.79. The firm has a market cap of $27,447.71, a P/E ratio of 16.79, a P/E/G ratio of 1.33 and a beta of 1.13. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, November 16th. Cummins’s dividend payout ratio is currently 43.86%.

TRADEMARK VIOLATION NOTICE: “$2.59 Earnings Per Share Expected for Cummins Inc. (CMI) This Quarter” was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/12/08/2-59-earnings-per-share-expected-for-cummins-inc-cmi-this-quarter.html.

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.

Get a free copy of the Zacks research report on Cummins (CMI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.