Q4 2017 EPS Estimates for Cummins Inc. Increased by William Blair (CMI)
Cummins Inc. (NYSE:CMI) – Equities researchers at William Blair lifted their Q4 2017 earnings per share (EPS) estimates for shares of Cummins in a report issued on Wednesday. William Blair analyst L. De. Maria now expects that the company will earn $2.53 per share for the quarter, up from their prior forecast of $2.22.
Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $2.58 by $0.05. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.80 billion. Cummins had a net margin of 8.10% and a return on equity of 20.67%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.40 earnings per share.
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A number of other analysts also recently issued reports on CMI. Deutsche Bank AG reaffirmed a “sell” rating and issued a $154.00 target price (up previously from $142.00) on shares of Cummins in a research report on Wednesday, May 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $150.00 target price on shares of Cummins in a research report on Wednesday, April 12th. Wells Fargo & Company raised Cummins from a “market perform” rating to an “outperform” rating in a research report on Monday, April 17th. ValuEngine raised Cummins from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised Cummins from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $154.33.
Cummins (NYSE CMI) opened at 160.16 on Monday. Cummins has a 12 month low of $116.03 and a 12 month high of $170.68. The firm has a 50-day moving average price of $163.27 and a 200 day moving average price of $154.51. The firm has a market capitalization of $26.75 billion, a price-to-earnings ratio of 18.10 and a beta of 1.09.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $1.08 dividend. This is a boost from Cummins’s previous quarterly dividend of $1.03. This represents a $4.32 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Wednesday, August 16th. Cummins’s payout ratio is 46.28%.
In related news, VP Anant Talaulicar sold 1,650 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $157.50, for a total value of $259,875.00. Following the completion of the sale, the vice president now directly owns 13,029 shares in the company, valued at $2,052,067.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexis M. Herman sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $159.16, for a total value of $206,908.00. Following the completion of the sale, the director now owns 29,656 shares of the company’s stock, valued at $4,720,048.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,636 shares of company stock valued at $10,000,575. 0.62% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Johanson Financial Advisors Inc. boosted its stake in shares of Cummins by 0.4% in the second quarter. Johanson Financial Advisors Inc. now owns 1,843 shares of the company’s stock valued at $303,000 after buying an additional 7 shares during the period. Bessemer Group Inc. boosted its stake in shares of Cummins by 1.1% in the second quarter. Bessemer Group Inc. now owns 1,148 shares of the company’s stock valued at $187,000 after buying an additional 12 shares during the period. Alambic Investment Management L.P. boosted its stake in shares of Cummins by 0.7% in the first quarter. Alambic Investment Management L.P. now owns 2,416 shares of the company’s stock valued at $365,000 after buying an additional 16 shares during the period. Texas Yale Capital Corp. boosted its stake in shares of Cummins by 1.3% in the second quarter. Texas Yale Capital Corp. now owns 2,016 shares of the company’s stock valued at $327,000 after buying an additional 25 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Cummins by 2.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,496 shares of the company’s stock valued at $226,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 80.34% of the company’s stock.
Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The 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 and agricultural markets.
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