Cummins Inc. (CMI) to Release Quarterly Earnings on Tuesday
Cummins Inc. (NYSE:CMI) is scheduled to announce its earnings results before the market opens on Tuesday, October 31st. Analysts expect the company to announce earnings of $2.41 per share for the quarter.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.58 by ($0.05). Cummins had a net margin of 8.10% and a return on equity of 20.67%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm posted $2.40 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. On average, analysts expect Cummins to post $9.84 EPS for the current fiscal year and $10.94 EPS for the next fiscal year.
Shares of Cummins Inc. (CMI) opened at 177.23 on Tuesday. The company has a 50-day moving average price of $169.12 and a 200-day moving average price of $160.45. Cummins Inc. has a 52 week low of $121.22 and a 52 week high of $178.81. The company has a market capitalization of $29.60 billion, a PE ratio of 20.03 and a beta of 1.13.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Thursday, November 16th. Cummins’s dividend payout ratio is 48.76%.
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CMI has been the topic of a number of recent research reports. 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 report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) downgraded Cummins from a “conviction-buy” rating to a “buy” rating and set a $192.00 target price on the stock. in a report on Monday, August 7th. ValuEngine raised Cummins from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Buckingham Research initiated coverage on Cummins in a report on Tuesday, September 5th. They issued a “buy” rating and a $180.00 target price on the stock. Finally, Stifel Nicolaus increased their target price on Cummins from $160.00 to $168.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $164.91.
In related news, Director Franklin R. Changdiaz sold 1,633 shares of Cummins stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total transaction of $260,087.91. Following the sale, the director now owns 5,814 shares of the company’s stock, valued at approximately $925,995.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by company insiders.
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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