Cummins (CMI) Scheduled to Post Quarterly Earnings on Tuesday

Cummins (NYSE:CMI - Get Free Report) will be announcing its earnings results before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $4.89 per share for the quarter. Cummins has set its FY 2024 guidance at EPS.Individual interested in registering for the company's earnings conference call can do so using this link.

Cummins (NYSE:CMI - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.85 by $0.41. The company had revenue of $8.80 billion for the quarter, compared to analysts' expectations of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $5.18 earnings per share. On average, analysts expect Cummins to post $20 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Cummins Price Performance

NYSE:CMI traded down $3.52 during trading hours on Tuesday, reaching $331.14. 337,140 shares of the company were exchanged, compared to its average volume of 1,529,065. The business has a 50 day moving average of $316.92 and a 200 day moving average of $296.16. Cummins has a 1-year low of $212.80 and a 1-year high of $340.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82. The company has a market capitalization of $45.29 billion, a P/E ratio of 24.28, a P/E/G ratio of 1.92 and a beta of 0.98.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, November 22nd. Cummins's dividend payout ratio (DPR) is currently 53.29%.

Wall Street Analysts Forecast Growth

CMI has been the subject of several recent analyst reports. Evercore ISI upped their price objective on shares of Cummins from $290.00 to $294.00 and gave the stock an "in-line" rating in a research report on Monday, August 19th. Robert W. Baird boosted their price target on Cummins from $295.00 to $315.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Barclays raised their price objective on Cummins from $259.00 to $310.00 and gave the company an "equal weight" rating in a research note on Monday, August 5th. Truist Financial boosted their target price on Cummins from $349.00 to $371.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cummins from $285.00 to $340.00 and gave the company an "underweight" rating in a research note on Friday, October 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $311.55.

Insider Buying and Selling at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Sharon R. Barner sold 4,780 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the sale, the vice president now owns 20,873 shares in the company, valued at $6,269,205.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the transaction, the senior vice president now directly owns 77,442 shares in the company, valued at approximately $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.