Analysts forecast that Cummins Inc. (NYSE:CMI) will post earnings per share (EPS) of $2.86 for the current quarter, Zacks reports. Eight analysts have made estimates for Cummins’ earnings. The lowest EPS estimate is $2.73 and the highest is $2.95. Cummins posted earnings per share of $2.36 during the same quarter last year, which would indicate a positive year over year growth rate of 21.2%. The company is scheduled to announce its next quarterly earnings report on Tuesday, May 1st.
On average, analysts expect that Cummins will report full-year earnings of $12.51 per share for the current financial year, with EPS estimates ranging from $11.33 to $12.90. For the next financial year, analysts forecast that the business will report earnings of $13.28 per share, with EPS estimates ranging from $12.52 to $13.85. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Cummins.
Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.38. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.23 billion. Cummins had a net margin of 4.89% and a return on equity of 22.18%. Cummins’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.25 EPS.
Shares of Cummins (NYSE:CMI) traded up $0.62 during trading on Wednesday, reaching $165.60. 1,420,000 shares of the company traded hands, compared to its average volume of 1,590,000. The company has a market cap of $27,480.00, a P/E ratio of 27.88, a P/E/G ratio of 1.16 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.01. Cummins has a one year low of $143.83 and a one year high of $194.18.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Friday, February 23rd will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, February 22nd. Cummins’s payout ratio is currently 72.73%.
Hedge funds have recently made changes to their positions in the business. Hall Laurie J Trustee lifted its stake in Cummins by 841.7% in the 4th quarter. Hall Laurie J Trustee now owns 2,260 shares of the company’s stock worth $101,000 after purchasing an additional 2,020 shares in the last quarter. Risk Paradigm Group LLC purchased a new stake in Cummins in the 4th quarter worth $127,000. Northwest Investment Counselors LLC purchased a new stake in Cummins in the 3rd quarter worth $132,000. Bank of Nova Scotia Trust Co. purchased a new stake in Cummins in the 3rd quarter worth $168,000. Finally, Krilogy Financial LLC purchased a new stake in Cummins in the 3rd quarter worth $168,000. Institutional investors and hedge funds own 83.06% of the company’s stock.
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Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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