Cummins Inc. Plans Quarterly Dividend of $0.63 (CMI)
Cummins (NYSE:CMI) announced a quarterly dividend on Tuesday, February 11th, AmericanBankingNews.com reports. Stockholders of record on Friday, February 21st will be paid a dividend of 0.625 per share on Monday, March 3rd. This represents a $2.50 annualized dividend and a dividend yield of 1.88%.
A number of research firms have recently commented on CMI. Analysts at S&P Equity Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Monday. On a related note, analysts at UBS AG cut their price target on shares of Cummins from $154.00 to $150.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Cummins from $156.00 to $146.00 in a research note on Friday. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Cummins has a consensus rating of “Buy” and an average price target of $139.31.
Shares of Cummins (NYSE:CMI) traded up 2.09% on Tuesday, hitting $135.80. The stock had a trading volume of 1,440,233 shares. Cummins has a one year low of $103.41 and a one year high of $141.67. The stock’s 50-day moving average is $134.5 and its 200-day moving average is $130.9. The company has a market cap of $25.354 billion and a P/E ratio of 16.82.
Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.32 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $2.00 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts predict that Cummins will post $8.90 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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