Equities analysts expect that Cummins Inc. (NYSE:CMI) will post sales of $5.13 billion for the current quarter, according to Zacks. Eight analysts have issued estimates for Cummins’ earnings. The highest sales estimate is $5.44 billion and the lowest is $5.02 billion. Cummins posted sales of $4.59 billion in the same quarter last year, which would indicate a positive year over year growth rate of 11.8%. The firm is expected to report its next earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that Cummins will report full year sales of $5.13 billion for the current year, with estimates ranging from $21.68 billion to $22.70 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $22.63 billion per share, with estimates ranging from $21.95 billion to $23.49 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Cummins.
Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.38. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The firm had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the previous year, the business posted $2.25 earnings per share. The business’s revenue for the quarter was up 21.6% on a year-over-year basis.
Cummins stock traded down $2.13 during trading on Thursday, reaching $155.42. The company’s stock had a trading volume of 1,456,939 shares, compared to its average volume of 1,949,126. Cummins has a 1 year low of $143.83 and a 1 year high of $194.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.57. The company has a market capitalization of $25,750.45, a PE ratio of 26.12, a PEG ratio of 1.08 and a beta of 1.19.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Friday, February 23rd were paid a $1.08 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $4.32 annualized dividend and a dividend yield of 2.78%. Cummins’s dividend payout ratio (DPR) is 72.61%.
Several large investors have recently bought and sold shares of CMI. BlackRock Inc. lifted its stake in shares of Cummins by 8.3% in the fourth quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock worth $2,062,319,000 after buying an additional 898,512 shares during the last quarter. Boston Partners grew its stake in shares of Cummins by 33.1% during the 4th quarter. Boston Partners now owns 3,296,825 shares of the company’s stock worth $582,351,000 after acquiring an additional 819,719 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Cummins by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 2,122,029 shares of the company’s stock worth $374,228,000 after acquiring an additional 59,257 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Cummins by 5.4% during the 4th quarter. APG Asset Management N.V. now owns 2,065,872 shares of the company’s stock worth $303,894,000 after acquiring an additional 105,100 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Cummins by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,991,974 shares of the company’s stock worth $351,862,000 after acquiring an additional 17,704 shares in the last quarter. Institutional investors and hedge funds own 84.16% of the company’s stock.
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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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