Cummins Inc. (CMI) Plans Quarterly Dividend of $0.78
Cummins (NYSE:CMI) declared a quarterly dividend on Tuesday, July 8th, AnalystRatingsNetwork reports. Stockholders of record on Friday, August 22nd will be given a dividend of 0.78 per share on Tuesday, September 2nd. This represents a $3.12 dividend on an annualized basis and a yield of 2.00%.
CMI has been the subject of a number of recent research reports. Analysts at Argus reiterated a “buy” rating on shares of Cummins in a research note on Thursday, July 3rd. They now have a $170.00 price target on the stock. On the ratings front, analysts at Barclays reiterated an “overweight” rating on shares of Cummins in a research note on Wednesday, April 30th. They now have a $167.00 price target on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Cummins from $144.00 to $150.00 in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $157.50.
Cummins (NYSE:CMI) traded down 0.03% during mid-day trading on Tuesday, hitting $155.96. The stock had a trading volume of 1,733,338 shares. Cummins has a 1-year low of $111.33 and a 1-year high of $161.03. The stock has a 50-day moving average of $154.7 and a 200-day moving average of $145.2. The company has a market cap of $28.494 billion and a P/E ratio of 18.89.
Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.15. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.17 billion. During the same quarter in the previous year, the company posted $1.49 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, analysts predict that Cummins will post $8.99 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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