Cummins Inc. (CMI) to Post Q1 2018 Earnings of $2.95 Per Share, Jefferies Group Forecasts

Cummins Inc. (NYSE:CMI) – Equities researchers at Jefferies Group upped their Q1 2018 EPS estimates for Cummins in a report issued on Wednesday. Jefferies Group analyst S. Volkmann now anticipates that the company will post earnings per share of $2.95 for the quarter, up from their prior estimate of $2.70. Jefferies Group has a “Hold” rating and a $180.00 price target on the stock. Jefferies Group also issued estimates for Cummins’ Q2 2018 earnings at $3.10 EPS, Q3 2018 earnings at $3.10 EPS and Q4 2018 earnings at $3.35 EPS.

Other research analysts also recently issued reports about the stock. Argus lifted their target price on shares of Cummins from $172.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Buckingham Research boosted their price objective on shares of Cummins from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Bank of America raised shares of Cummins from a “neutral” rating to a “buy” rating and set a $215.00 price objective on the stock in a research report on Friday, January 19th. ValuEngine raised shares of Cummins from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Barclays began coverage on shares of Cummins in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $180.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. Cummins currently has a consensus rating of “Hold” and an average price target of $185.96.

Cummins (NYSE:CMI) opened at $172.74 on Thursday. The firm has a market cap of $28,670.00, a P/E ratio of 29.08, a PEG ratio of 1.19 and a beta of 1.14. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. Cummins has a 1 year low of $143.83 and a 1 year high of $194.18.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.38. The business had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the firm posted $2.25 earnings per share.

A number of hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC grew its position in Cummins by 0.3% in the second quarter. Advisory Services Network LLC now owns 15,459 shares of the company’s stock worth $2,508,000 after acquiring an additional 51 shares in the last quarter. Advisor Partners LLC grew its position in Cummins by 8.1% in the fourth quarter. Advisor Partners LLC now owns 3,596 shares of the company’s stock worth $680,000 after acquiring an additional 269 shares in the last quarter. Kessler Investment Group LLC grew its position in Cummins by 1.8% in the fourth quarter. Kessler Investment Group LLC now owns 18,785 shares of the company’s stock worth $3,318,000 after acquiring an additional 329 shares in the last quarter. Hartford Investment Management Co. grew its position in Cummins by 1.0% in the third quarter. Hartford Investment Management Co. now owns 34,314 shares of the company’s stock worth $5,766,000 after acquiring an additional 349 shares in the last quarter. Finally, Kalos Management Inc. grew its position in Cummins by 2.0% in the second quarter. Kalos Management Inc. now owns 17,729 shares of the company’s stock worth $2,876,000 after acquiring an additional 353 shares in the last quarter. 82.46% of the stock is owned by institutional investors.

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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.

Earnings History and Estimates for Cummins (NYSE:CMI)

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