Cummins Inc. Expected to Earn FY2021 Earnings of $16.17 Per Share (CMI)

Cummins Inc. (NYSE:CMI) – Research analysts at Piper Jaffray Companies raised their FY2021 EPS estimates for Cummins in a report released on Friday, April 12th. Piper Jaffray Companies analyst A. Potter now expects that the company will post earnings per share of $16.17 for the year, up from their previous forecast of $16.11. Piper Jaffray Companies has a “Buy” rating and a $195.00 price target on the stock. Piper Jaffray Companies also issued estimates for Cummins’ FY2022 earnings at $17.16 EPS.

Several other equities research analysts have also recently commented on the company. ValuEngine raised Cummins from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Zacks Investment Research cut Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Mizuho set a $155.00 target price on Cummins and gave the company a “hold” rating in a research note on Saturday, February 9th. CIBC reissued a “market perform” rating on shares of Cummins in a research note on Thursday, February 7th. Finally, Oppenheimer cut Cummins from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $162.24.

NYSE CMI opened at $164.97 on Monday. The firm has a market capitalization of $26.15 billion, a PE ratio of 12.47, a PEG ratio of 1.14 and a beta of 1.09. Cummins has a 52 week low of $124.40 and a 52 week high of $172.08. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.19.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Wednesday, February 6th. The company reported $3.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.81 by ($0.33). The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.08 billion. Cummins had a net margin of 9.01% and a return on equity of 29.71%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.03 EPS.

In related news, insider Srikanth Padmanabhan sold 1,687 shares of Cummins stock in a transaction on Monday, March 18th. The stock was sold at an average price of $160.00, for a total transaction of $269,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Tracy A. Embree sold 206 shares of Cummins stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $150.00, for a total value of $30,900.00. Following the sale, the vice president now directly owns 4,221 shares of the company’s stock, valued at $633,150. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,816 shares of company stock valued at $1,039,321. 0.67% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Hodges Capital Management Inc. grew its stake in shares of Cummins by 143.1% during the first quarter. Hodges Capital Management Inc. now owns 5,096 shares of the company’s stock worth $805,000 after purchasing an additional 3,000 shares during the period. Jag Capital Management LLC grew its stake in Cummins by 3.5% in the first quarter. Jag Capital Management LLC now owns 10,901 shares of the company’s stock valued at $1,721,000 after acquiring an additional 372 shares during the period. Quantitative Systematic Strategies LLC grew its stake in Cummins by 18.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 5,202 shares of the company’s stock valued at $821,000 after acquiring an additional 808 shares during the period. CMH Wealth Management LLC grew its stake in Cummins by 3.5% in the first quarter. CMH Wealth Management LLC now owns 13,900 shares of the company’s stock valued at $2,194,000 after acquiring an additional 470 shares during the period. Finally, Virtu Financial LLC acquired a new position in Cummins in the first quarter valued at about $1,004,000. 82.11% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Cummins (NYSE:CMI)

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