Cummins Sets New 1-Year High at $143.60 (CMI)
Cummins (NYSE:CMI) reached a new 52-week high on Friday , American Banking & Market News reports. The stock traded as high as $143.60 and last traded at $142.85, with a volume of 1,644,178 shares trading hands. The stock had previously closed at $140.92.
Several analysts have recently commented on the stock. 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. Separately, analysts at UBS AG cut their price target on shares of Cummins from $154.00 to $150.00 in a research note on Friday, February 7th. 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, February 7th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $139.31.
The stock’s 50-day moving average is $134.6 and its 200-day moving average is $131.1. The company has a market cap of $26.534 billion and a P/E ratio of 17.82.
Cummins (NYSE:CMI) last released its earnings data 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. Analysts expect that Cummins will post $8.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 3rd. Shareholders of record on Friday, February 21st will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Wednesday, February 19th.
In other Cummins news, Insider Pamela Carter sold 10,000 shares of Cummins stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $136.61, for a total transaction of $1,366,100.00. Following the completion of the sale, the insider now directly owns 13,122 shares of the company’s stock, valued at approximately $1,792,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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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