Equities analysts expect that Cummins Inc. (NYSE:CMI) will post earnings of $4.20 per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Cummins’ earnings, with the lowest EPS estimate coming in at $3.93 and the highest estimate coming in at $4.61. Cummins reported earnings of $3.57 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 17.6%. The firm is expected to report its next earnings results before the market opens on Tuesday, November 2nd.
On average, analysts expect that Cummins will report full year earnings of $16.31 per share for the current fiscal year, with EPS estimates ranging from $15.90 to $16.81. For the next financial year, analysts expect that the company will post earnings of $19.00 per share, with EPS estimates ranging from $18.12 to $20.05. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Cummins.
Cummins (NYSE:CMI) last issued its earnings results on Monday, August 2nd. The company reported $4.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.06 by $0.04. Cummins had a net margin of 9.52% and a return on equity of 25.26%. The firm had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period last year, the firm posted $1.86 earnings per share. The firm’s revenue for the quarter was up 58.4% compared to the same quarter last year.
CMI stock traded up $4.63 during midday trading on Friday, reaching $236.17. The company had a trading volume of 17,663 shares, compared to its average volume of 1,050,243. Cummins has a 1 year low of $212.80 and a 1 year high of $277.09. The company has a current ratio of 1.81, a quick ratio of 1.19 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $33.92 billion, a P/E ratio of 15.79, a PEG ratio of 1.27 and a beta of 1.05. The company has a 50 day moving average of $232.79 and a two-hundred day moving average of $244.58.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 2nd. Investors of record on Friday, November 19th will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, November 18th. Cummins’s payout ratio is 47.62%.
A number of hedge funds and other institutional investors have recently bought and sold shares of CMI. RMB Capital Management LLC bought a new stake in Cummins during the first quarter worth $211,000. Norinchukin Bank The raised its position in shares of Cummins by 1.7% in the first quarter. Norinchukin Bank The now owns 12,315 shares of the company’s stock valued at $3,191,000 after purchasing an additional 203 shares during the period. Ropes Wealth Advisors LLC raised its position in shares of Cummins by 3.9% in the first quarter. Ropes Wealth Advisors LLC now owns 3,875 shares of the company’s stock valued at $1,026,000 after purchasing an additional 145 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Cummins by 2.1% in the first quarter. CIBC Private Wealth Group LLC now owns 33,239 shares of the company’s stock valued at $8,612,000 after purchasing an additional 684 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Cummins by 5.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,119 shares of the company’s stock valued at $3,153,000 after purchasing an additional 665 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.
Cummins, Inc designs, manufactures and markets diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.
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