S&P Equity Research Downgrades Cummins to Hold (CMI)
Cummins (NYSE:CMI) was downgraded by equities researchers at S&P Equity Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, AmericanBankingNews.com reports.
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 $154.00 to $150.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse cut their price target on shares of Cummins from $156.00 to $146.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Cummins from $131.00 to $139.00 in a research note to investors on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Cummins currently has an average rating of “Buy” and a consensus price target of $139.31.
Cummins (NYSE:CMI) traded down 1.18% on Monday, hitting $132.745. The stock had a trading volume of 561,426 shares. Cummins has a one year low of $103.41 and a one year high of $141.67. The stock has a 50-day moving average of $134.7 and a 200-day moving average of $130.6. The company has a market cap of $24.783 billion and a price-to-earnings ratio of 16.98.
Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, February 6th. The company reported $2.32 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $2.00 earnings per share. Cummins’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Cummins will post $8.97 earnings per share for the current fiscal year.
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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