Zacks Research Issues Positive Estimate for Cummins Earnings

Cummins Inc. (NYSE:CMI - Free Report) - Research analysts at Zacks Research raised their FY2024 EPS estimates for shares of Cummins in a note issued to investors on Tuesday, November 19th. Zacks Research analyst R. Singhi now anticipates that the company will post earnings per share of $20.78 for the year, up from their prior forecast 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.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 26.86% and a net margin of 6.13%. The business's revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.73 EPS.

CMI has been the subject of several other research reports. StockNews.com raised shares of Cummins from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 6th. Vertical Research downgraded Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target for the company. in a research note on Wednesday, November 6th. The Goldman Sachs Group raised their price objective on Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Truist Financial upped their target price on Cummins from $349.00 to $371.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Finally, Citigroup lifted their price target on shares of Cummins from $375.00 to $415.00 and gave the company a "buy" rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $337.67.

Cummins Price Performance

NYSE CMI opened at $360.95 on Thursday. The company has a 50 day moving average price of $332.94 and a two-hundred day moving average price of $303.34. Cummins has a 12-month low of $220.02 and a 12-month high of $370.21. The stock has a market capitalization of $49.52 billion, a PE ratio of 23.84, a price-to-earnings-growth 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.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be given a dividend of $1.82 per share. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.02%. Cummins's dividend payout ratio is currently 48.08%.

Insider Activity

In other news, SVP Tony Satterthwaite sold 24,250 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Sharon R. Barner sold 2,001 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total value of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,456,419.29. This trade represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,576 shares of company stock valued at $9,033,945 over the last quarter. 0.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cummins

A number of hedge funds have recently added to or reduced their stakes in CMI. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Cummins in the 2nd quarter worth $28,000. Cultivar Capital Inc. acquired a new position in Cummins during the second quarter worth $28,000. Lynx Investment Advisory bought a new position in shares of Cummins in the second quarter valued at $29,000. LRI Investments LLC acquired a new position in shares of Cummins during the first quarter valued at about $31,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Cummins during the third quarter worth about $32,000. Institutional investors and hedge funds own 83.46% 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.

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