Equities research analysts predict that Cummins Inc. (NYSE:CMI) will announce $6.09 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Cummins’ earnings, with the lowest sales estimate coming in at $5.78 billion and the highest estimate coming in at $6.37 billion. Cummins reported sales of $5.12 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 18.9%. The firm is expected to report its next quarterly earnings results on Tuesday, October 26th.
According to Zacks, analysts expect that Cummins will report full year sales of $24.65 billion for the current financial year, with estimates ranging from $24.23 billion to $25.18 billion. For the next financial year, analysts expect that the company will post sales of $26.30 billion, with estimates ranging from $25.72 billion to $26.69 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Cummins.
Cummins (NYSE:CMI) last announced its quarterly earnings results on Monday, August 2nd. The company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.06 by $0.04. Cummins had a return on equity of 25.26% and a net margin of 9.52%. The firm had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The business’s revenue was up 58.4% compared to the same quarter last year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Cummins by 5.3% during the 1st quarter. BlackRock Inc. now owns 13,717,674 shares of the company’s stock valued at $3,554,386,000 after acquiring an additional 686,581 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Cummins by 1.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,584,150 shares of the company’s stock valued at $1,117,662,000 after buying an additional 43,799 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cummins by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,665,065 shares of the company’s stock valued at $648,101,000 after buying an additional 39,451 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cummins by 10.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,977,042 shares of the company’s stock valued at $482,023,000 after purchasing an additional 185,095 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Cummins by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 1,588,982 shares of the company’s stock valued at $387,411,000 after purchasing an additional 63,671 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.
CMI opened at $221.47 on Tuesday. Cummins has a 12-month low of $199.70 and a 12-month high of $277.09. The stock has a market cap of $31.80 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.27 and a beta of 1.05. The business has a 50 day moving average of $234.86 and a 200-day moving average of $248.86. The company has a quick ratio of 1.19, a current ratio of 1.81 and a debt-to-equity ratio of 0.41.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 2nd. Stockholders of record on Friday, August 20th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.62%. This is a positive change from Cummins’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Thursday, August 19th. Cummins’s dividend payout ratio (DPR) is presently 47.62%.
Cummins, Inc designs, manufactures and markets diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas powered engines under the Cummins brand name, 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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