Cummins (CMI) Projected to Post Quarterly Earnings on Tuesday

Cummins (NYSE:CMI - Get Free Report) is projected to issue its quarterly earnings data 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.Parties that wish to register for the company's conference call can do so using this link.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts' consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the business posted $4.73 EPS. The company's quarterly revenue was up .3% compared to the same quarter last year. On average, analysts expect Cummins to post $22 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Cummins Trading Up 0.5 %

Shares of NYSE:CMI traded up $1.75 during trading on Tuesday, reaching $350.59. 876,167 shares of the stock were exchanged, compared to its average volume of 752,633. The firm's 50-day moving average price is $363.62 and its 200 day moving average price is $332.09. The firm has a market cap of $48.09 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. Cummins has a 12-month low of $236.00 and a 12-month high of $387.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Insider Activity

In related news, VP Sharon R. Barner sold 162 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CMI has been the subject of several recent research reports. JPMorgan Chase & Co. raised shares of Cummins from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Robert W. Baird raised their price objective on Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. StockNews.com raised Cummins from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group upped their price target on Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Finally, Citigroup dropped their price objective 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. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $374.25.

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.