$3.84 EPS Expected for Cummins Inc. (NYSE:CMI) This Quarter

Analysts expect that Cummins Inc. (NYSE:CMI) will announce earnings of $3.84 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Cummins’ earnings. The lowest EPS estimate is $3.70 and the highest is $3.97. Cummins reported earnings per share of $4.05 during the same quarter last year, which indicates a negative year over year growth rate of 5.2%. The company is expected to report its next quarterly earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that Cummins will report full-year earnings of $15.84 per share for the current year, with EPS estimates ranging from $15.41 to $16.14. For the next fiscal year, analysts anticipate that the company will post earnings of $14.48 per share, with EPS estimates ranging from $13.49 to $15.85. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Cummins.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, July 30th. The company reported $4.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.38 by ($0.11). Cummins had a net margin of 10.74% and a return on equity of 29.75%. The business had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same period in the prior year, the business posted $4.14 EPS. Cummins’s revenue for the quarter was up 1.5% on a year-over-year basis.

CMI has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Cummins from $130.00 to $135.00 and gave the company a “sell” rating in a research note on Wednesday, May 1st. Wells Fargo & Co dropped their target price on shares of Cummins from $175.00 to $165.00 and set a “market perform” rating on the stock in a report on Monday, June 3rd. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Friday, May 3rd. Standpoint Research cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley dropped their target price on shares of Cummins from $167.00 to $162.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Cummins currently has an average rating of “Hold” and a consensus target price of $166.67.

Several institutional investors have recently modified their holdings of CMI. Gradient Investments LLC boosted its stake in shares of Cummins by 102.8% during the 2nd quarter. Gradient Investments LLC now owns 146 shares of the company’s stock worth $25,000 after acquiring an additional 74 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in Cummins in the 2nd quarter valued at $26,000. Guidant Wealth Advisors bought a new stake in Cummins in the 1st quarter valued at $29,000. Kempen Capital Management N.V. purchased a new position in shares of Cummins in the 2nd quarter worth $29,000. Finally, SeaBridge Investment Advisors LLC purchased a new position in shares of Cummins in the 1st quarter worth $32,000. Institutional investors and hedge funds own 81.51% of the company’s stock.

Shares of NYSE CMI traded up $1.54 on Thursday, reaching $146.03. 1,480,022 shares of the company’s stock traded hands, compared to its average volume of 1,268,379. Cummins has a 12 month low of $124.40 and a 12 month high of $175.91. The company has a 50 day moving average of $165.70. The stock has a market cap of $22.77 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.14. The company has a current ratio of 1.66, a quick ratio of 1.04 and a debt-to-equity ratio of 0.18.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st will be paid a dividend of $1.311 per share. This represents a $5.24 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Tuesday, August 20th. This is a boost from Cummins’s previous quarterly dividend of $1.14. Cummins’s dividend payout ratio (DPR) is currently 34.47%.

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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