Deutsche Bank began coverage on shares of Cummins (NYSE:CMI) in a report issued on Tuesday morning, TipRanks reports. The firm issued a hold rating and a $172.00 target price on the stock.
A number of other equities analysts have also commented on CMI. Wolfe Research raised Cummins from an underperform rating to a market perform rating in a research note on Friday, March 27th. Cfra reduced their price objective on Cummins from $176.00 to $170.00 and set a hold rating on the stock in a research note on Tuesday, April 28th. Citigroup boosted their price objective on Cummins from $182.00 to $192.00 and gave the stock a buy rating in a research note on Thursday, June 18th. Cowen reissued a hold rating and issued a $171.00 price objective on shares of Cummins in a research note on Wednesday, May 6th. Finally, BMO Capital Markets boosted their price objective on Cummins from $130.00 to $150.00 and gave the stock a market perform rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $169.94.
Shares of NYSE:CMI opened at $173.26 on Tuesday. The business’s fifty day moving average price is $167.24 and its two-hundred day moving average price is $160.50. Cummins has a fifty-two week low of $101.03 and a fifty-two week high of $186.73. The stock has a market capitalization of $25.53 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 2.33 and a beta of 1.15. 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 (NYSE:CMI) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.18 earnings per share for the quarter, beating 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 analysts’ expectations of $4.87 billion. During the same period in the prior year, the business posted $4.20 earnings per share. The business’s revenue was down 16.5% compared to the same quarter last year. Research analysts expect that Cummins will post 7.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were paid a $1.311 dividend. This represents a $5.24 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, May 21st. Cummins’s payout ratio is 34.82%.
A number of large investors have recently added to or reduced their stakes in CMI. FDx Advisors Inc. acquired a new position in Cummins in the first quarter valued at about $27,000. Ballast Advisors LLC acquired a new position in Cummins in the first quarter valued at about $28,000. Capital Square LLC acquired a new position in Cummins in the first quarter valued at about $30,000. Creative Financial Designs Inc. ADV acquired a new position in Cummins in the first quarter valued at about $32,000. Finally, Sonora Investment Management LLC lifted its stake in Cummins by 87.4% in the first quarter. Sonora Investment Management LLC now owns 238 shares of the company’s stock valued at $32,000 after buying an additional 111 shares during the period. 80.97% of the stock is currently owned by hedge funds and other institutional investors.
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.
Recommended Story: What is a good dividend yield?
Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.