Cummins Inc. (NYSE:CMI) had its price objective upped by Royal Bank Of Canada from $169.00 to $173.00 in a report published on Thursday, November 2nd, MarketBeat.com reports. The firm currently has a sector perform rating on the stock.
A number of other research analysts have also recently commented on CMI. Piper Jaffray Companies reissued a hold rating and issued a $161.00 target price on shares of Cummins in a report on Wednesday, July 12th. Zacks Investment Research cut shares of Cummins from a buy rating to a hold rating in a report on Wednesday, July 12th. ValuEngine cut shares of Cummins from a buy rating to a hold rating in a report on Tuesday, August 1st. Stifel Nicolaus raised their price objective on shares of Cummins from $160.00 to $168.00 and gave the company a hold rating in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG dropped their price objective on shares of Cummins from $155.00 to $147.00 and set a sell rating for the company in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. Cummins presently has an average rating of Hold and an average target price of $173.96.
Shares of Cummins (NYSE CMI) traded up $0.84 during trading on Thursday, reaching $160.64. 1,521,906 shares of the company’s stock were exchanged, compared to its average volume of 1,305,636. The firm has a market capitalization of $26,660.00, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. Cummins has a 12-month low of $134.06 and a 12-month high of $181.79.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.24. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.02 earnings per share. research analysts forecast that Cummins will post 10.19 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.69%. The ex-dividend date is Thursday, November 16th. Cummins’s payout ratio is currently 43.90%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Carroll Financial Associates Inc. boosted its holdings in Cummins by 13.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock worth $113,000 after acquiring an additional 83 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in Cummins during the 3rd quarter worth $132,000. Captrust Financial Advisors purchased a new position in Cummins during the 2nd quarter worth $137,000. Acrospire Investment Management LLC purchased a new position in Cummins during the 2nd quarter worth $146,000. Finally, Harbour Capital Advisors LLC purchased a new position in Cummins during the 1st quarter worth $150,000. 84.48% 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. 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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