FY2024 EPS Estimates for Cummins Increased by Zacks Research

Cummins Inc. (NYSE:CMI) – Investment analysts at Zacks Research raised their FY2024 earnings per share estimates for shares of Cummins in a report issued on Tuesday, November 19th. Zacks Research analyst R. Singhi now forecasts that the company will post earnings per share of $20.78 for the year, up from their previous estimate of $19.70. The consensus estimate for Cummins’ current full-year earnings is $20.57 per share. Zacks Research also issued estimates for Cummins’ Q4 2024 earnings at $4.82 EPS, Q1 2025 earnings at $5.31 EPS, Q2 2025 earnings at $5.86 EPS, Q4 2025 earnings at $5.44 EPS, FY2025 earnings at $22.66 EPS, Q1 2026 earnings at $5.67 EPS, Q2 2026 earnings at $6.92 EPS and FY2026 earnings at $26.11 EPS.

Several other research analysts have also recently weighed in on CMI. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Truist Financial raised their price objective on shares of Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. Finally, Robert W. Baird increased their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $337.67.

Cummins Price Performance

Shares of NYSE CMI opened at $360.95 on Thursday. The company has a market capitalization of $49.52 billion, a PE ratio of 23.84, a PEG ratio of 1.77 and a beta of 0.97. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $332.94 and its 200-day moving average price is $303.34. Cummins has a twelve month low of $220.02 and a twelve month high of $370.21.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm’s revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $4.73 earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PFG Investments LLC increased its position in shares of Cummins by 27.7% in the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares during the last quarter. CWM LLC grew its stake in Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after buying an additional 1,786 shares in the last quarter. Distillate Capital Partners LLC increased its holdings in shares of Cummins by 109,309.3% in the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after buying an additional 59,027 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Cummins during the 2nd quarter valued at $16,329,000. Finally, Cetera Advisors LLC lifted its holdings in shares of Cummins by 162.9% during the 1st quarter. Cetera Advisors LLC now owns 22,870 shares of the company’s stock worth $6,739,000 after acquiring an additional 14,170 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the sale, the senior vice president now directly owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,576 shares of company stock worth $9,033,945. 0.56% of the stock is owned by company insiders.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is presently 48.08%.

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.