Cummins (CMI) to Release Earnings on Tuesday

Cummins (NYSE:CMI) is projected to release its earnings data before the market opens on Tuesday, February 4th. Analysts expect Cummins to post 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) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the firm posted $4.73 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts expect Cummins to post $21 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Cummins Stock Down 1.0 %

Shares of NYSE:CMI opened at $356.25 on Friday. The company has a market cap of $48.87 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.63 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 current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $362.75 and a 200 day moving average price of $333.36.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CMI. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Truist Financial upped their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Jefferies Financial Group increased their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and an average target price of $374.25.

Insider Activity

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 6,490 shares of company stock worth $2,357,880. Corporate insiders own 0.56% of the company’s stock.

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.