Cummins (CMI) Posts Quarterly Earnings, Beats Expectations By $0.15 EPS
Cummins (NYSE:CMI) announced its earnings results on Tuesday. The company reported $1.83 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.68 by $0.15, Analyst RN reports. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.17 billion.
CMI has been the subject of a number of recent research reports. Analysts at Robert W. Baird raised their price target on shares of Cummins from $139.00 to $144.00 in a research note on Tuesday, April 22nd. On the ratings front, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Cummins in a research note on Thursday, April 10th. They now have a $140.00 price target on the stock, up previously from $128.00. Finally, analysts at Zacks upgraded shares of Cummins from an “underperform” rating to a “neutral” rating in a research note on Thursday, April 3rd. They now have a $157.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $151.20.
Shares of Cummins (NYSE:CMI) opened at 145.20 on Tuesday. Cummins has a 52-week low of $103.41 and a 52-week high of $151.00. The stock has a 50-day moving average of $144.9 and a 200-day moving average of $137.4. The company has a market cap of $26.920 billion and a price-to-earnings ratio of 18.61.
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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