Cummins (CMI) Projected to Post Quarterly Earnings on Tuesday

Cummins (NYSE:CMI) will likely be announcing its earnings results before the market opens on Tuesday, February 4th. Analysts expect the company to announce earnings of $4.70 per share and revenue of $8.06 billion for the quarter. Cummins has set its FY 2024 guidance at EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Cummins (NYSE:CMI) last posted its quarterly earnings data 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. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the firm posted $4.73 EPS. Cummins’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts expect Cummins to post $21 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Cummins Stock Down 1.0 %

CMI stock opened at $356.25 on Monday. The stock has a market capitalization of $48.87 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.63 and a beta of 1.01. The company has a fifty day moving average of $362.75 and a 200-day moving average of $333.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins has a one year low of $236.00 and a one year high of $387.90.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CMI shares. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Jefferies Financial Group increased their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup lowered their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. 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 report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cummins has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was 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 directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 6,490 shares of company stock worth $2,357,880. Corporate insiders own 0.56% of the company’s stock.

Cummins Company Profile

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.