Cummins (CMI) – Analysts’ Recent Ratings Changes
Several analysts have recently updated their ratings and price targets for Cummins (NYSE: CMI):
- 9/12/2016 – Cummins had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $114.00 price target on the stock.
- 9/8/2016 – Cummins was given a new $110.00 price target on by analysts at William Blair. They now have a “hold” rating on the stock.
- 9/6/2016 – Cummins is now covered by analysts at Deutsche Bank AG. They set a “sell” rating and a $111.00 price target on the stock.
- 9/1/2016 – Cummins had its price target raised by analysts at Jefferies Group from $115.00 to $120.00. They now have a “hold” rating on the stock.
- 8/3/2016 – Cummins had its price target raised by analysts at Citigroup Inc. from $115.00 to $120.00. They now have a “neutral” rating on the stock.
Shares of Cummins Inc. (NYSE:CMI) traded up 0.1761% during trading on Tuesday, hitting $119.5001. 213,020 shares of the stock were exchanged. Cummins Inc. has a 1-year low of $79.88 and a 1-year high of $127.64. The firm’s 50-day moving average is $123.41 and its 200 day moving average is $115.54. The company has a market cap of $20.08 billion, a P/E ratio of 16.3676 and a beta of 1.48.
Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $2.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.25. Cummins had a net margin of 6.97% and a return on equity of 19.48%. The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period last year, the company earned $2.62 earnings per share. The firm’s revenue was down 9.7% compared to the same quarter last year. Equities analysts forecast that Cummins Inc. will post $8.14 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 22nd were issued a dividend of $0.975 per share. The ex-dividend date was Thursday, August 18th. This represents a $3.90 dividend on an annualized basis and a yield of 3.27%. Cummins’s payout ratio is 55.93%.
In other Cummins news, insider Jill E. Cook sold 5,981 shares of Cummins stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $120.20, for a total transaction of $718,916.20. Following the completion of the transaction, the insider now directly owns 24,800 shares of the company’s stock, valued at $2,980,960. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Marsha L. Hunt sold 500 shares of Cummins stock in a transaction on Monday, August 8th. The stock was sold at an average price of $126.26, for a total transaction of $63,130.00. Following the transaction, the vice president now directly owns 2,582 shares of the company’s stock, valued at $326,003.32. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.
Cummins Inc is a manufacturer of diesel engines. The Company operates through four segments: Engine, Distribution, Components and Power Generation. Its Engine segment manufactures and markets a range of diesel and natural gas-powered engines under the Cummins brand name, as well as certain customer brand names for the heavy-and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive, agricultural and governmental equipment markets.
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