BMO Capital Markets Lowers Cummins EPS Estimates (CMI)
Analysts at BMO Capital Markets cut their earnings per share estimates on shares of Cummins (NYSE:CMI) in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork reports. The firm currently has an “outperform” rating and a $144.00 price objective on the company’s shares. They previously had a $146.00 price objective on the stock. BMO Capital Markets’ price objective indicates a potential upside of 11.76% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG cut their price target on shares of Cummins from $146.00 to $141.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, 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. They now have a $131.00 price target on the stock, down previously from $138.00. Finally, 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. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Cummins presently has an average rating of “Buy” and a consensus price target of $133.33.
Shares of Cummins (NYSE:CMI) traded up 1.44% during mid-day trading on Wednesday, hitting $128.85. 2,493,484 shares of the company’s stock traded hands. Cummins has a 52-week low of $93.98 and a 52-week high of $139.17. The stock’s 50-day moving average is $133.0 and its 200-day moving average is $121.1. The company has a market cap of $23.953 billion and a P/E ratio of 16.92.
Cummins (NYSE:CMI) last released its earnings data on Tuesday, October 29th. The company reported $1.90 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.86 earnings per share. Cummins’s revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Cummins will post $7.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, December 2nd. Shareholders of record on Thursday, November 21st will be given a dividend of $0.63 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend 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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