$2.59 Earnings Per Share Expected for Cummins Inc. (CMI) This Quarter
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%.
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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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