Cummins (CMI) Posts Quarterly Results
Cummins (NYSE:CMI) issued its quarterly earnings data on Tuesday. The company reported $1.90 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.11 by $0.21, AmericanBankingNews.com reports. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.38 billion.
Cummins (NYSE:CMI) opened at 134.91 on Tuesday. Cummins has a 1-year low of $85.88 and a 1-year high of $134.29. The stock’s 50-day moving average is $124.7 and its 200-day moving average is $116.. The company has a market cap of $25.080 billion and a P/E ratio of 17.97.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Investors of record on Thursday, November 21st will be paid a dividend of $0.63 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Tuesday, November 19th.
CMI has been the subject of a number of recent research reports. Analysts at Jefferies Group raised their price target on shares of Cummins from $120.00 to $130.00 in a research note to investors on Thursday, September 19th. They now have a “hold” rating on the stock. On a related note, analysts at BMO Capital Markets raised their price target on shares of Cummins from $135.00 to $146.00 in a research note to investors on Wednesday, September 18th. They now have an “outperform” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Cummins from $135.00 to $146.00 in a research note to investors on Wednesday, September 18th. They now have a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $133.25.
Cummins Inc is a diesel engine manufacturer. The Company designs, manufactures, distributes and services diesel and natural gas engines, electric power generation systems and engine-related component products, including filtration, exhaust aftertreatment, fuel systems, fuel systems, controls systems, air handling systems and electric power.
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