Cummins Price Target Lowered to $141.00 at UBS AG (CMI)
Investment analysts at UBS AG reduced their price objective on shares of Cummins (NYSE:CMI) from $146.00 to $141.00 in a note issued to investors on Wednesday, AnalystRatings.NET reports. The firm currently has a “buy” rating on the stock. UBS AG’s target price points to a potential upside of 10.24% from the stock’s previous close.
A number of other firms have also recently commented on CMI. Analysts at Robert W. Baird downgraded shares of Cummins from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday. Separately, 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. Finally, 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. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $132.36.
Shares of Cummins (NYSE:CMI) traded down 1.58% on Wednesday, hitting $125.88. The stock had a trading volume of 1,184,469 shares. Cummins has a one year low of $85.88 and a one 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 $23.401 billion and a price-to-earnings ratio of 17.04.
Cummins (NYSE:CMI) last released its earnings data on Tuesday, October 29th. The company reported $1.90 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.11 by $0.21. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts expect that Cummins will post $8.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Shareholders 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 1.95%. The ex-dividend date is Tuesday, November 19th.
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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