Equities analysts forecast that Cummins Inc. (NYSE:CMI) will post sales of $6.33 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Cummins’ earnings, with the lowest sales estimate coming in at $6.28 billion and the highest estimate coming in at $6.41 billion. Cummins posted sales of $6.13 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.3%. The firm is scheduled to issue its next earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Cummins will report full-year sales of $24.53 billion for the current year, with estimates ranging from $24.33 billion to $24.62 billion. For the next financial year, analysts forecast that the business will report sales of $23.60 billion, with estimates ranging from $22.71 billion to $24.99 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Cummins.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $4.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.51 by $0.69. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.80 billion. Cummins had a return on equity of 30.72% and a net margin of 10.24%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 EPS.
NYSE:CMI traded up $0.70 during midday trading on Friday, hitting $161.46. 43,597 shares of the company traded hands, compared to its average volume of 1,118,795. The firm has a market capitalization of $25.02 billion, a PE ratio of 12.22, a PEG ratio of 1.18 and a beta of 1.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.57. Cummins has a 12-month low of $124.40 and a 12-month high of $169.45.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Friday, May 24th will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 2.82%. Cummins’s dividend payout ratio (DPR) is 34.47%.
In related news, insider Srikanth Padmanabhan sold 1,687 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $160.00, for a total transaction of $269,920.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.95% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of CMI. Martingale Asset Management L P grew its stake in shares of Cummins by 11.2% during the 3rd quarter. Martingale Asset Management L P now owns 30,761 shares of the company’s stock valued at $4,494,000 after purchasing an additional 3,101 shares during the period. Legal & General Group Plc grew its stake in shares of Cummins by 7.2% during the 3rd quarter. Legal & General Group Plc now owns 887,408 shares of the company’s stock valued at $129,624,000 after purchasing an additional 59,419 shares during the period. Morgan Stanley grew its stake in shares of Cummins by 5.3% during the 3rd quarter. Morgan Stanley now owns 1,727,365 shares of the company’s stock valued at $252,315,000 after purchasing an additional 86,791 shares during the period. Federated Investors Inc. PA grew its stake in shares of Cummins by 300.1% during the 3rd quarter. Federated Investors Inc. PA now owns 642,093 shares of the company’s stock valued at $93,790,000 after purchasing an additional 481,621 shares during the period. Finally, North Star Investment Management Corp. grew its stake in shares of Cummins by 3.6% during the 4th quarter. North Star Investment Management Corp. now owns 3,345 shares of the company’s stock valued at $447,000 after purchasing an additional 115 shares during the period. 81.36% of the stock is currently owned by hedge funds and other institutional investors.
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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