Cummins Inc. (NYSE:CMI) Expected to Post Quarterly Sales of $5.44 Billion

Analysts expect that Cummins Inc. (NYSE:CMI) will report sales of $5.44 billion for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Cummins’ earnings. The lowest sales estimate is $5.31 billion and the highest is $5.82 billion. Cummins posted sales of $6.13 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.3%. The company is expected to announce its next quarterly earnings report on Wednesday, February 5th.

According to Zacks, analysts expect that Cummins will report full-year sales of $23.36 billion for the current fiscal year, with estimates ranging from $23.30 billion to $23.44 billion. For the next year, analysts forecast that the company will report sales of $21.75 billion, with estimates ranging from $20.95 billion to $23.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Cummins.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $3.83 EPS for the quarter, missing the consensus estimate of $3.84 by ($0.01). The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.87 billion. Cummins had a net margin of 10.53% and a return on equity of 28.52%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.05 EPS.

A number of research firms recently issued reports on CMI. Raymond James started coverage on shares of Cummins in a research report on Wednesday, November 27th. They set a “market perform” rating for the company. Barclays restated a “hold” rating and set a $159.00 price objective on shares of Cummins in a research note on Wednesday, October 16th. ValuEngine raised Cummins from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated a “hold” rating and issued a $185.00 target price (up previously from $167.00) on shares of Cummins in a research note on Monday, November 25th. Finally, Cfra downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $173.65.

Shares of NYSE CMI traded up $0.42 during midday trading on Monday, hitting $178.46. The stock had a trading volume of 34,560 shares, compared to its average volume of 1,253,036. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.18. Cummins has a 1-year low of $124.40 and a 1-year high of $186.73. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.90 and a beta of 1.15. The company has a fifty day moving average price of $178.91 and a 200 day moving average price of $165.18.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were given a $1.311 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Wednesday, November 13th. Cummins’s payout ratio is 39.61%.

Several institutional investors have recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new stake in shares of Cummins in the 2nd quarter worth about $26,000. Kempen Capital Management N.V. acquired a new position in shares of Cummins in the 2nd quarter worth approximately $29,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Cummins in the 2nd quarter worth approximately $35,000. Rational Advisors LLC increased its holdings in shares of Cummins by 1,147.1% in the 2nd quarter. Rational Advisors LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 195 shares during the last quarter. Finally, Heritage Wealth Advisors bought a new stake in shares of Cummins in the 2nd quarter valued at approximately $39,000. Institutional investors own 83.13% of the company’s stock.

About Cummins

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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