Zacks Research Issues Positive Estimate for Cummins Earnings

Cummins Inc. (NYSE:CMI) – Zacks Research increased their FY2024 earnings per share estimates for Cummins in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst R. Singhi now anticipates that the company will post earnings of $20.78 per share for the year, up from their previous estimate 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) last posted its quarterly earnings data 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. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the firm earned $4.73 earnings per share. The business’s revenue was up .3% on a year-over-year basis.

A number of other brokerages have also recently commented on CMI. JPMorgan Chase & Co. upped their price target on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research report on Friday, October 11th. Robert W. Baird upped their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Citigroup upped their price target on Cummins from $375.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Barclays upped their price target on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average price target of $337.67.

Cummins Stock Up 2.3 %

CMI stock opened at $369.13 on Thursday. The stock’s fifty day simple moving average is $334.37 and its two-hundred day simple moving average is $303.79. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins has a 1-year low of $220.02 and a 1-year high of $370.64. The stock has a market cap of $50.64 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.77 and a beta of 0.97.

Institutional Trading of Cummins

Institutional investors and hedge funds have recently modified their holdings of the business. Cultivar Capital Inc. purchased a new stake in shares of Cummins in the 2nd quarter valued at about $28,000. Prospera Private Wealth LLC purchased a new position in shares of Cummins during the 3rd quarter valued at about $32,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Cummins during the 2nd quarter valued at about $28,000. Lynx Investment Advisory purchased a new position in shares of Cummins during the 2nd quarter valued at about $29,000. Finally, LRI Investments LLC purchased a new position in shares of Cummins during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 4,326 shares of company stock valued at $1,559,125 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 1.97%. Cummins’s payout ratio is currently 48.08%.

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.