Piper Jaffray Equities Analysts Boost Earnings Estimates for Cummins (CMI)

Cummins (NYSE:CMI) – Equities research analysts at Piper Jaffray boosted their Q1 2018 earnings per share estimates for Cummins in a research report issued to clients and investors on Thursday, April 5th. Piper Jaffray analyst A. Potter now expects that the company will post earnings of $3.02 per share for the quarter, up from their prior forecast of $2.87. Piper Jaffray currently has a “Hold” rating and a $164.00 price target on the stock. Piper Jaffray also issued estimates for Cummins’ Q2 2018 earnings at $3.30 EPS, Q3 2018 earnings at $3.22 EPS, Q4 2018 earnings at $3.37 EPS, FY2018 earnings at $12.91 EPS, Q1 2019 earnings at $3.06 EPS, Q2 2019 earnings at $3.50 EPS, Q3 2019 earnings at $3.41 EPS, Q4 2019 earnings at $3.71 EPS, FY2020 earnings at $13.55 EPS, FY2021 earnings at $14.55 EPS and FY2022 earnings at $15.05 EPS.

How to Become a New Pot Stock Millionaire

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 6th. The company reported $3.03 EPS for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.38. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter last year, the firm posted $2.25 earnings per share. The company’s quarterly revenue was up 21.6% compared to the same quarter last year.

A number of other equities analysts have also commented on CMI. Seaport Global Securities reissued a “neutral” rating on shares of Cummins in a research report on Tuesday, January 16th. Deutsche Bank set a $169.00 price target on shares of Cummins and gave the company a “sell” rating in a research report on Monday, February 5th. Stifel Nicolaus reissued a “hold” rating and issued a $182.00 price target on shares of Cummins in a research report on Monday, February 5th. ValuEngine raised shares of Cummins from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, TheStreet lowered shares of Cummins from a “b” rating to a “c+” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the stock. Cummins currently has a consensus rating of “Hold” and a consensus price target of $185.78.

NYSE:CMI opened at $162.42 on Friday. Cummins has a 12 month low of $143.83 and a 12 month high of $194.18. The company has a market capitalization of $26,666.72, a PE ratio of 15.29, a PEG ratio of 1.12 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.57.

A number of institutional investors and hedge funds have recently bought and sold shares of CMI. BB&T Securities LLC boosted its stake in Cummins by 11.9% during the third quarter. BB&T Securities LLC now owns 6,216 shares of the company’s stock worth $1,044,000 after buying an additional 662 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Cummins by 8.7% in the 3rd quarter. Brown Advisory Inc. now owns 8,761 shares of the company’s stock valued at $1,472,000 after purchasing an additional 700 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Cummins in the 3rd quarter valued at $220,000. OxFORD Asset Management LLP acquired a new stake in shares of Cummins in the 3rd quarter valued at $533,000. Finally, Stifel Financial Corp boosted its stake in shares of Cummins by 2.0% in the 3rd quarter. Stifel Financial Corp now owns 108,153 shares of the company’s stock valued at $18,205,000 after purchasing an additional 2,116 shares in the last quarter. Hedge funds and other institutional investors own 84.17% of the company’s stock.

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 dividend of $1.08 per share. The ex-dividend date was Thursday, February 22nd. This represents a $4.32 dividend on an annualized basis and a yield of 2.66%. Cummins’s dividend payout ratio is currently 40.68%.

TRADEMARK VIOLATION NOTICE: This story was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.tickerreport.com/banking-finance/3334389/piper-jaffray-equities-analysts-boost-earnings-estimates-for-cummins-cmi.html.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins and other customer brands for the heavy-and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.

Earnings History and Estimates 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.

Latest News

Arcos Dorados Holdings  Given Consensus Rating of “Buy” by Brokerages
Arcos Dorados Holdings Given Consensus Rating of “Buy” by Brokerages
Vulcano  Hits Market Capitalization of $0.00
Vulcano Hits Market Capitalization of $0.00
Digital Bullion Gold 24 Hour Trading Volume Reaches $17.00
Digital Bullion Gold 24 Hour Trading Volume Reaches $17.00
Somewhat Positive Media Coverage Somewhat Unlikely to Impact Xcel Energy  Share Price
Somewhat Positive Media Coverage Somewhat Unlikely to Impact Xcel Energy Share Price
Somewhat Positive Press Coverage Somewhat Unlikely to Impact Magna International  Share Price
Somewhat Positive Press Coverage Somewhat Unlikely to Impact Magna International Share Price
Shinhan Financial Group  Receives Daily Coverage Optimism Score of 0.08
Shinhan Financial Group Receives Daily Coverage Optimism Score of 0.08


© 2006-2018 Ticker Report. Google+.