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.
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.
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%.
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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.
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