Cummins Receives Consensus Recommendation of “Buy” from Analysts (NYSE:CMI)
Shares of Cummins (NYSE:CMI) have earned an average rating of “Buy” from the twenty ratings firms that are covering the stock, Stock Ratings Network.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $137.23.
Cummins (NYSE:CMI) opened at 125.00 on Thursday. Cummins has a 1-year low of $103.41 and a 1-year high of $141.67. The stock has a 50-day moving average of $135.2 and a 200-day moving average of $130.5. The company has a market cap of $23.263 billion and a P/E ratio of 16.78.
Cummins (NYSE:CMI) last released its earnings data on Thursday, February 6th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.34. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts predict that Cummins will post $7.58 earnings per share for the current fiscal year.
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. Separately, 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.
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.