Cummins (CMI) Projected to Post Earnings on Tuesday

Cummins (NYSE:CMI) is expected 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 $8,064,560.00 billion for the quarter. Cummins has set its FY 2024 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating 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 company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the company earned $4.73 EPS. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts expect Cummins to post $22 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Cummins Stock Performance

CMI opened at $348.27 on Tuesday. The business’s 50-day simple moving average is $363.94 and its 200 day simple moving average is $331.60. Cummins has a 52-week low of $236.00 and a 52-week high of $387.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The firm has a market capitalization of $47.78 billion, a PE ratio of 23.00, a PEG ratio of 1.69 and a beta of 1.01.

Insider Activity

In other news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 6,489 shares of company stock valued at $2,357,531. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird boosted their price objective on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Vertical Research downgraded 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. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $374.25.

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.