Cummins’ (CMI) Neutral Rating Reaffirmed at Seaport Global Securities

Seaport Global Securities reissued their neutral rating on shares of Cummins (NYSE:CMI) in a research note published on Tuesday. Seaport Global Securities also issued estimates for Cummins’ Q4 2017 earnings at $2.65 EPS, FY2017 earnings at $10.25 EPS, Q1 2018 earnings at $2.89 EPS, Q2 2018 earnings at $3.11 EPS, Q3 2018 earnings at $2.96 EPS, Q4 2018 earnings at $3.01 EPS, FY2018 earnings at $11.96 EPS and FY2019 earnings at $12.95 EPS.

Other research analysts have also recently issued research reports about the stock. Buckingham Research lifted their price objective on shares of Cummins from $180.00 to $195.00 and gave the company a buy rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Cummins from a hold rating to a buy rating and set a $188.00 target price on the stock in a research report on Monday, October 2nd. Argus lifted their target price on shares of Cummins from $172.00 to $195.00 and gave the company a buy rating in a research report on Monday, November 6th. Barclays assumed coverage on shares of Cummins in a research report on Tuesday, December 12th. They issued an equal weight rating and a $180.00 target price on the stock. Finally, Stifel Nicolaus reiterated a hold rating and issued a $190.00 target price (up previously from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $178.69.

Cummins (NYSE CMI) traded up $0.03 on Tuesday, reaching $183.72. 870,290 shares of the company’s stock were exchanged, compared to its average volume of 1,212,524. Cummins has a one year low of $140.18 and a one year high of $185.27. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $30,490.00, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the previous year, the company earned $2.02 earnings per share. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. analysts predict that Cummins will post 10.21 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in Cummins during the third quarter worth about $132,000. Bank of Nova Scotia Trust Co. acquired a new position in Cummins during the third quarter worth about $168,000. Krilogy Financial LLC acquired a new position in Cummins during the third quarter worth about $168,000. Sun Life Financial INC boosted its position in Cummins by 8,684.6% during the second quarter. Sun Life Financial INC now owns 1,142 shares of the company’s stock worth $185,000 after acquiring an additional 1,129 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in Cummins during the third quarter worth about $201,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Cummins’ (CMI) Neutral Rating Reaffirmed at Seaport Global Securities” was first reported by Week Herald and is the property of of Week Herald. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://weekherald.com/2018/01/18/cummins-cmi-neutral-rating-reaffirmed-at-seaport-global-securities.html.

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.

Analyst Recommendations for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply