Wall Street analysts expect that Cummins Inc. (NYSE:CMI) will announce sales of $5.80 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Cummins’ earnings, with the lowest sales estimate coming in at $5.64 billion and the highest estimate coming in at $6.08 billion. Cummins reported sales of $5.83 billion in the same quarter last year, which would suggest a negative year over year growth rate of 0.5%. The company is expected to announce its next quarterly earnings results on Thursday, February 3rd.
According to Zacks, analysts expect that Cummins will report full-year sales of $23.99 billion for the current financial year, with estimates ranging from $23.81 billion to $24.26 billion. For the next year, analysts anticipate that the business will report sales of $26.01 billion, with estimates ranging from $25.31 billion to $26.69 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Cummins.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Monday, November 1st. The company reported $3.69 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.30). Cummins had a net margin of 9.32% and a return on equity of 24.91%. During the same quarter in the prior year, the company posted $3.57 EPS.
In related news, Vice Chairman Tony Satterthwaite sold 9,190 shares of the stock in a transaction that occurred on Tuesday, November 23rd. The shares were sold at an average price of $226.72, for a total transaction of $2,083,556.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leo Allen Bruno V. Di sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 17th. The shares were sold at an average price of $233.81, for a total transaction of $233,810.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,550 shares of company stock valued at $4,052,119. Company insiders own 1.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Trustcore Financial Services LLC increased its stake in Cummins by 500.0% in the 3rd quarter. Trustcore Financial Services LLC now owns 120 shares of the company’s stock valued at $27,000 after buying an additional 100 shares during the period. CKW Financial Group acquired a new position in shares of Cummins during the 2nd quarter worth $32,000. KB Financial Partners LLC increased its stake in shares of Cummins by 47.8% during the 2nd quarter. KB Financial Partners LLC now owns 136 shares of the company’s stock worth $33,000 after purchasing an additional 44 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of Cummins during the 3rd quarter worth $37,000. Finally, Kempen Capital Management N.V. increased its stake in shares of Cummins by 41.3% during the 2nd quarter. Kempen Capital Management N.V. now owns 154 shares of the company’s stock worth $38,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.
Shares of NYSE:CMI traded down $1.98 during trading on Thursday, reaching $225.86. 1,143,829 shares of the company’s stock traded hands, compared to its average volume of 1,027,933. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.80 and a quick ratio of 1.17. Cummins has a 12 month low of $216.41 and a 12 month high of $277.09. The company has a 50 day moving average of $233.40 and a 200-day moving average of $239.56. The stock has a market capitalization of $32.31 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.06.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 2nd. Stockholders of record on Friday, November 19th will be issued a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, November 18th. Cummins’s dividend payout ratio (DPR) is presently 38.11%.
Cummins Company Profile
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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