Analysts Anticipate Cummins Inc. (CMI) Will Post Earnings of $2.86 Per Share

Equities research analysts forecast that Cummins Inc. (NYSE:CMI) will post earnings of $2.86 per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Cummins’ earnings, with estimates ranging from $2.73 to $2.95. Cummins reported earnings per share of $2.36 in the same quarter last year, which indicates a positive year-over-year growth rate of 21.2%. The company is scheduled to issue its next earnings report on Tuesday, May 1st.

According to Zacks, analysts expect that Cummins will report full year earnings of $12.51 per share for the current year, with EPS estimates ranging from $11.33 to $12.90. For the next financial year, analysts expect that the firm will report earnings of $13.28 per share, with EPS estimates ranging from $12.52 to $13.85. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Cummins.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.38. The company 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 revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.25 earnings per share.

A number of brokerages recently weighed in on CMI. Credit Suisse Group lowered their price objective on shares of Cummins from $208.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. TheStreet downgraded shares of Cummins from a “b” rating to a “c+” rating in a research report on Tuesday, February 6th. Stifel Nicolaus reaffirmed a “hold” rating and set a $182.00 target price on shares of Cummins in a report on Monday, February 5th. Zacks Investment Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $193.00 target price for the company in a report on Friday, February 9th. Finally, William Blair reaffirmed a “hold” rating on shares of Cummins in a report on Tuesday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Cummins has a consensus rating of “Hold” and a consensus target price of $188.18.

Shares of Cummins (CMI) traded down $0.95 during trading on Wednesday, reaching $164.68. 983,706 shares of the company were exchanged, compared to its average volume of 1,504,566. The company has a market capitalization of $27,330.00, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.17 and a beta of 1.14. Cummins has a 12 month low of $143.83 and a 12 month high of $194.18. The company has a current ratio of 1.57, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Friday, February 23rd will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.62%. Cummins’s dividend payout ratio (DPR) is presently 72.73%.

Several hedge funds and other institutional investors have recently made changes to their positions in CMI. BlackRock Inc. grew its stake in Cummins by 8.3% during the fourth quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock valued at $2,062,319,000 after acquiring an additional 898,512 shares in the last quarter. Boston Partners grew its stake in Cummins by 33.1% during the fourth quarter. Boston Partners now owns 3,296,825 shares of the company’s stock valued at $582,351,000 after acquiring an additional 819,719 shares in the last quarter. Geode Capital Management LLC grew its stake in Cummins by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,122,029 shares of the company’s stock valued at $374,228,000 after acquiring an additional 59,257 shares in the last quarter. APG Asset Management N.V. grew its stake in Cummins by 5.4% during the fourth quarter. APG Asset Management N.V. now owns 2,065,872 shares of the company’s stock valued at $303,894,000 after acquiring an additional 105,100 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in Cummins by 2.0% during the third quarter. First Eagle Investment Management LLC now owns 1,997,863 shares of the company’s stock valued at $335,701,000 after acquiring an additional 39,674 shares in the last quarter. 83.06% of the stock is owned by hedge funds and other 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.

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Earnings History and Estimates for Cummins (NYSE:CMI)

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