$5.80 Billion in Sales Expected for Cummins Inc. (NYSE:CMI) This Quarter

Analysts expect Cummins Inc. (NYSE:CMI) to post $5.80 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Cummins’ earnings. The lowest sales estimate is $5.64 billion and the highest is $6.08 billion. Cummins posted sales of $5.83 billion during the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The business is expected to announce its next earnings results on Thursday, February 3rd.

On average, analysts expect that Cummins will report full-year sales of $23.99 billion for the current fiscal year, with estimates ranging from $23.81 billion to $24.26 billion. For the next year, analysts expect that the firm will post sales of $26.01 billion, with estimates ranging from $25.31 billion to $26.69 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Cummins.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Monday, November 1st. The company reported $3.69 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.30). Cummins had a return on equity of 24.91% and a net margin of 9.32%. During the same quarter last year, the firm posted $3.57 EPS.

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group cut shares of Cummins from a “buy” rating to a “neutral” rating and dropped their price target for the company from $270.00 to $230.00 in a research note on Tuesday, August 24th. Evercore ISI dropped their price target on shares of Cummins from $315.00 to $299.00 and set an “outperform” rating on the stock in a research note on Thursday, October 14th. Citigroup lifted their price target on shares of Cummins from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, October 12th. Morgan Stanley lifted their price target on shares of Cummins from $252.00 to $262.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 3rd. Finally, Credit Suisse Group lifted their target price on shares of Cummins from $295.00 to $304.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 3rd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $284.36.

In related news, Vice Chairman Tony Satterthwaite sold 9,190 shares of the business’s stock in a transaction dated Tuesday, November 23rd. The shares were sold at an average price of $226.72, for a total value of $2,083,556.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Walter J. Fier sold 7,360 shares of the business’s stock in a transaction dated Thursday, November 11th. The shares were sold at an average price of $235.70, for a total transaction of $1,734,752.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,550 shares of company stock worth $4,052,119. Insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CMI. Price T Rowe Associates Inc. MD lifted its holdings in 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 worth $1,117,662,000 after buying an additional 43,799 shares in the last quarter. Capital Research Global Investors boosted its position in Cummins by 4.2% in the 3rd quarter. Capital Research Global Investors now owns 3,402,903 shares of the company’s stock valued at $764,156,000 after buying an additional 135,846 shares during the period. Geode Capital Management LLC boosted its position in Cummins by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,723,036 shares of the company’s stock valued at $609,992,000 after buying an additional 57,971 shares during the period. LSV Asset Management boosted its position in Cummins by 5.5% in the 3rd quarter. LSV Asset Management now owns 2,101,229 shares of the company’s stock valued at $471,851,000 after buying an additional 109,970 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Cummins by 10.3% in 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 buying an additional 185,095 shares during the period. 80.39% of the stock is owned by institutional investors and hedge funds.

Cummins stock traded down $1.98 during trading on Thursday, reaching $225.86. The company had a trading volume of 1,143,829 shares, compared to its average volume of 1,027,933. The firm’s 50-day simple moving average is $233.40 and its 200 day simple moving average is $239.56. Cummins has a 1-year low of $216.41 and a 1-year high of $277.09. The firm has a market capitalization of $32.31 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.17 and a current ratio of 1.80.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 2nd. Stockholders of record on Friday, November 19th will be issued a dividend of $1.45 per share. The ex-dividend date of this dividend is Thursday, November 18th. This represents a $5.80 annualized dividend and a dividend yield of 2.57%. Cummins’s dividend payout ratio is presently 38.11%.

Cummins Company Profile

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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Earnings History and Estimates for Cummins (NYSE:CMI)

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