Cummins (NYSE:CMI) Issues Earnings Results

by · The Markets Daily

Cummins (NYSE:CMI – Get Free Report) issued its quarterly earnings results on Monday. The company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.94, RTT News reports. Cummins had a net margin of 11.57% and a return on equity of 27.12%. During the same quarter last year, the company posted $5.08 earnings per share.

Cummins Stock Up 1.6 %

Shares of CMI opened at $299.72 on Monday. Cummins has a 1 year low of $260.02 and a 1 year high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The stock has a 50 day simple moving average of $310.47 and a two-hundred day simple moving average of $342.51. The firm has a market cap of $41.28 billion, a P/E ratio of 10.64, a P/E/G ratio of 2.19 and a beta of 1.02.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.43%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CMI. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. UBS Group downgraded shares of Cummins from a “buy” rating to a “sell” rating and cut their price objective for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Truist Financial decreased their price target on Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup decreased their target price on shares of Cummins from $360.00 to $320.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $346.00.

Check Out Our Latest Research Report on CMI

Institutional Investors Weigh In On Cummins

An institutional investor recently raised its stake in Cummins stock. Brighton Jones LLC raised its position in shares of Cummins Inc. (NYSE:CMI – Free Report) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,112 shares of the company’s stock after buying an additional 83 shares during the period. Brighton Jones LLC’s holdings in Cummins were worth $736,000 at the end of the most recent reporting period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

About Cummins

(Get Free Report)

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.

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