$4.20 EPS Expected for Cummins Inc. (NYSE:CMI) This Quarter

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.

A number of research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Cummins from $262.00 to $255.00 and set a “hold” rating on the stock in a report on Wednesday, July 14th. Cowen upgraded shares of Cummins from a “market perform” rating to an “outperform” rating and set a $284.00 price target on the stock in a research report on Friday, July 16th. Morgan Stanley decreased their target price on shares of Cummins from $264.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Evercore ISI reduced their price target on shares of Cummins from $315.00 to $299.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Zacks Investment Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $251.00 price target on the stock. in a research report on Thursday, July 15th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Cummins presently has an average rating of “Buy” and an average target price of $279.31.

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.

About Cummins

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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