Cummins Inc. (NYSE:CMI) Given Average Rating of “Hold” by Brokerages

Cummins Inc. (NYSE:CMI) has earned an average rating of “Hold” from the twenty-two ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $169.19.

A number of research firms have recently commented on CMI. Royal Bank of Canada restated a “hold” rating and issued a $165.00 price objective on shares of Cummins in a report on Thursday, May 21st. Oppenheimer restated a “hold” rating on shares of Cummins in a report on Tuesday, April 28th. Credit Suisse Group raised their price objective on Cummins from $178.00 to $201.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Cfra cut their price objective on Cummins from $176.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, April 28th. Finally, Goldman Sachs Group cut their price objective on Cummins from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, March 19th.

NYSE:CMI traded up $0.71 during mid-day trading on Monday, reaching $167.08. The company’s stock had a trading volume of 1,430,127 shares, compared to its average volume of 1,463,119. The company’s fifty day simple moving average is $161.74 and its two-hundred day simple moving average is $161.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.40 and a quick ratio of 0.89. Cummins has a twelve month low of $101.03 and a twelve month high of $186.73. The stock has a market cap of $24.54 billion, a P/E ratio of 12.27, a P/E/G ratio of 3.44 and a beta of 1.14.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $1.00. Cummins had a return on equity of 24.86% and a net margin of 9.34%. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period last year, the company earned $4.20 EPS. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. Sell-side analysts expect that Cummins will post 7.45 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were issued a dividend of $1.311 per share. The ex-dividend date was Thursday, May 21st. This represents a $5.24 annualized dividend and a yield of 3.14%. Cummins’s dividend payout ratio is presently 34.82%.

A number of hedge funds have recently bought and sold shares of CMI. Wealth Quarterback LLC purchased a new stake in Cummins during the 4th quarter worth approximately $23,102,111,000. Norges Bank acquired a new stake in shares of Cummins during the fourth quarter worth $300,538,000. American International Group Inc. raised its position in shares of Cummins by 2,162.4% during the fourth quarter. American International Group Inc. now owns 1,728,050 shares of the company’s stock worth $309,252,000 after purchasing an additional 1,651,668 shares during the period. Wells Fargo & Company MN raised its position in shares of Cummins by 31.2% during the first quarter. Wells Fargo & Company MN now owns 1,877,796 shares of the company’s stock worth $254,104,000 after purchasing an additional 446,111 shares during the period. Finally, Capital International Investors acquired a new stake in shares of Cummins during the first quarter worth $56,469,000. Institutional investors own 80.97% of the company’s stock.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Analyst Recommendations for Cummins (NYSE:CMI)

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