Cummins Inc. (NYSE:CMI) – Analysts at Seaport Global Securities boosted their FY2017 EPS estimates for shares of Cummins in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Seaport Global Securities analyst R. Wood now forecasts that the company will post earnings of $10.25 per share for the year, up from their previous forecast of $9.75. Seaport Global Securities also issued estimates for Cummins’ Q4 2017 earnings at $2.66 EPS, Q1 2018 earnings at $2.57 EPS, Q2 2018 earnings at $2.91 EPS, Q3 2018 earnings at $3.00 EPS, Q4 2018 earnings at $2.87 EPS, FY2018 earnings at $11.35 EPS, Q1 2019 earnings at $2.83 EPS, Q2 2019 earnings at $3.14 EPS, Q3 2019 earnings at $3.24 EPS and FY2019 earnings at $12.30 EPS.
Several other research analysts have also recently weighed in on CMI. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Thursday, July 20th. ValuEngine cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Stifel Nicolaus lifted their price target on shares of Cummins from $160.00 to $168.00 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Deutsche Bank AG dropped their price target on shares of Cummins from $155.00 to $147.00 and set a “sell” rating on the stock in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $165.00 price target (up previously from $160.00) on shares of Cummins in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. Cummins presently has a consensus rating of “Hold” and an average target price of $173.96.
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Shares of Cummins (NYSE CMI) opened at $169.12 on Monday. Cummins has a fifty-two week low of $134.06 and a fifty-two week high of $181.79. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. The stock has a market cap of $28,081.70, a P/E ratio of 17.18, a P/E/G ratio of 1.38 and a beta of 1.16.
Cummins (NYSE:CMI) last issued its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.47 by $0.24. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter last year, the company posted $2.02 earnings per share. The firm’s quarterly revenue was up 26.2% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Cummins by 0.5% in the 1st quarter. State Street Corp now owns 12,238,897 shares of the company’s stock worth $1,850,515,000 after buying an additional 61,286 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Cummins by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 11,614,316 shares of the company’s stock worth $1,884,074,000 after buying an additional 298,352 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Cummins by 4.1% in the 2nd quarter. BlackRock Inc. now owns 10,633,275 shares of the company’s stock worth $1,724,930,000 after buying an additional 422,135 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Cummins by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 2,710,712 shares of the company’s stock worth $439,732,000 after buying an additional 77,116 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Cummins by 9.0% in the 1st quarter. AQR Capital Management LLC now owns 2,486,266 shares of the company’s stock worth $375,924,000 after buying an additional 205,659 shares during the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.55%. Cummins’s dividend payout ratio (DPR) is presently 43.86%.
Cummins Company Profile
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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