Cummins (CMI) Set to Announce Quarterly Earnings on Thursday

Cummins (NYSE:CMI) is scheduled to announce its earnings results before the market opens on Thursday, August 1st. Analysts expect the company to announce earnings of $4.84 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 EPS for the quarter, missing analysts’ consensus estimates of $5.11 by ($0.01). Cummins had a net margin of 5.70% and a return on equity of 25.38%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.36 billion. On average, analysts expect Cummins to post $19 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Cummins Trading Down 0.7 %

CMI opened at $289.04 on Wednesday. Cummins has a one year low of $212.80 and a one year high of $304.24. The company has a market cap of $39.53 billion, a P/E ratio of 21.16, a PEG ratio of 1.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. The business’s 50-day simple moving average is $279.43 and its 200-day simple moving average is $275.67.

Cummins Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 23rd will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from Cummins’s previous quarterly dividend of $1.68. Cummins’s dividend payout ratio is presently 49.19%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Robert W. Baird dropped their price objective on Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. StockNews.com upgraded Cummins from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. TD Cowen upped their target price on Cummins from $272.00 to $292.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Citigroup assumed coverage on Cummins in a research report on Wednesday, June 26th. They issued a “buy” rating and a $320.00 target price for the company. Finally, Raymond James assumed coverage on Cummins in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $287.18.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 3,880 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the completion of the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Sharon R. Barner sold 3,880 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the completion of the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jeffrey T. Wiltrout bought 282 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $285.11 per share, with a total value of $80,401.02. Following the completion of the purchase, the vice president now owns 1,262 shares in the company, valued at approximately $359,808.82. The disclosure for this purchase can be found here. 0.56% of the stock is owned by insiders.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers 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; and offers parts and services, as well as remanufactured parts and engines.