Cummins (CMI) Posts Quarterly Earnings Results, Beats Estimates By $0.34 EPS
Cummins (NYSE:CMI) issued its quarterly earnings data on Thursday. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.34, Analyst Ratings News reports. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.21 billion.
A number of analysts have recently weighed in on CMI shares. Analysts at Wolfe Research initiated coverage on shares of Cummins in a research note to investors on Friday, January 17th. They set an “outperform” rating on the stock. On the ratings front, analysts at Susquehanna initiated coverage on shares of Cummins in a research note to investors on Friday, January 17th. They set a “positive” rating and a $165.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Cummins from $137.00 to $165.00 in a research note to investors on Monday, January 13th. They now have an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $137.23.
Cummins (NYSE:CMI) opened at 126.67 on Thursday. Cummins has a 52 week low of $103.41 and a 52 week high of $141.67. The stock has a 50-day moving average of $135.1 and a 200-day moving average of $130.5. The company has a market cap of $23.573 billion and a P/E ratio of 16.74.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.