Cummins Inc. (CMI) Given Average Recommendation of “Hold” by Analysts

Cummins Inc. (NYSE:CMI) has earned a consensus rating of “Hold” from the twenty ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $178.96.

Several research analysts recently issued reports on the company. Piper Jaffray Companies set a $175.00 target price on Cummins and gave the company a “hold” rating in a research report on Sunday, December 10th. Barclays assumed coverage on Cummins in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $180.00 target price on the stock. Zacks Investment Research raised Cummins from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Monday, October 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $190.00 target price (up previously from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Finally, Citigroup boosted their price objective on Cummins from $175.00 to $183.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th.

Shares of Cummins (CMI) traded up $1.15 during trading hours on Thursday, hitting $175.15. The company had a trading volume of 1,072,200 shares, compared to its average volume of 1,314,162. The stock has a market capitalization of $28,878.35, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.57. Cummins has a one year low of $134.06 and a one year high of $181.79.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.47 by $0.24. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $4.79 billion. Cummins had a return on equity of 21.28% and a net margin of 8.49%. Cummins’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.02 earnings per share. analysts anticipate that Cummins will post 10.19 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were given a $1.08 dividend. The ex-dividend date was Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 2.47%. Cummins’s dividend payout ratio is currently 43.86%.

A number of hedge funds have recently bought and sold shares of the business. Northwest Investment Counselors LLC bought a new stake in shares of Cummins in the third quarter valued at $132,000. Captrust Financial Advisors bought a new stake in shares of Cummins in the second quarter valued at $137,000. Acrospire Investment Management LLC bought a new stake in shares of Cummins in the second quarter valued at $146,000. First Interstate Bank raised its stake in shares of Cummins by 2.7% in the second quarter. First Interstate Bank now owns 956 shares of the company’s stock valued at $155,000 after buying an additional 25 shares during the period. Finally, Bank of Nova Scotia Trust Co. bought a new stake in shares of Cummins in the third quarter valued at $168,000. 82.31% of the stock is currently owned by institutional investors and hedge funds.

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About Cummins

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.

Analyst Recommendations for Cummins (NYSE:CMI)

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