Research Analysts Offer Predictions for Cummins Inc.’s FY2017 Earnings (CMI)

Cummins Inc. (NYSE:CMI) – Investment analysts at Seaport Global Securities issued their FY2017 earnings per share (EPS) estimates for shares of Cummins in a research note issued on Tuesday. Seaport Global Securities analyst M. Shlisky forecasts that the company will earn $10.25 per share for the year. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Cummins’ Q4 2017 earnings at $2.65 EPS, Q1 2018 earnings at $2.89 EPS, Q2 2018 earnings at $3.11 EPS, Q3 2018 earnings at $2.96 EPS, Q4 2018 earnings at $3.01 EPS, FY2018 earnings at $11.96 EPS and FY2019 earnings at $12.95 EPS.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.24. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $4.79 billion. During the same period last year, the company earned $2.02 EPS. Cummins’s revenue for the quarter was up 26.2% compared to the same quarter last year.

Several other research firms have also issued reports on CMI. Stifel Nicolaus restated a “hold” rating and set a $190.00 price target (up from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Zacks Investment Research lowered Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. BMO Capital Markets raised their price target on Cummins from $185.00 to $190.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 8th. Jefferies Group raised their price target on Cummins from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Finally, ValuEngine lowered Cummins from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $178.69.

Cummins (CMI) opened at $183.69 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. Cummins has a 1 year low of $138.48 and a 1 year high of $185.10. The stock has a market capitalization of $30,297.37, a P/E ratio of 18.65, a P/E/G ratio of 1.26 and a beta of 1.14.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMI. Northwest Investment Counselors LLC purchased a new stake in Cummins in the 3rd quarter worth approximately $132,000. Bank of Nova Scotia Trust Co. purchased a new stake in Cummins in the 3rd quarter worth approximately $168,000. Krilogy Financial LLC purchased a new stake in Cummins in the 3rd quarter worth approximately $168,000. Sun Life Financial INC lifted its holdings in Cummins by 8,684.6% in the 2nd quarter. Sun Life Financial INC now owns 1,142 shares of the company’s stock worth $185,000 after buying an additional 1,129 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new stake in Cummins in the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

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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.

Earnings History and Estimates for Cummins (NYSE:CMI)

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