FY2024 EPS Estimates for Cummins Increased by Zacks Research

Cummins Inc. (NYSE:CMI) – Investment analysts at Zacks Research increased their FY2024 earnings per share estimates for Cummins in a report released on Tuesday, November 19th. Zacks Research analyst R. Singhi now expects that the company will earn $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.

A number of other research analysts also recently weighed in on CMI. Barclays increased their target price on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Citigroup raised their target price on Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on shares of Cummins from $324.00 to $370.00 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 report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $337.67.

Cummins Stock Up 1.5 %

Shares of NYSE CMI opened at $372.66 on Thursday. The stock has a market capitalization of $51.12 billion, a P/E ratio of 24.61, a P/E/G ratio of 1.77 and a beta of 0.97. Cummins has a 1 year low of $222.04 and a 1 year high of $373.35. The company has a 50-day moving average price of $335.78 and a 200-day moving average price of $304.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79.

Cummins (NYSE:CMI) last released 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 net margin of 6.13% and a return on equity of 26.86%. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the business posted $4.73 EPS. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year.

Institutional Trading of Cummins

A number of large investors have recently modified their holdings of CMI. Cultivar Capital Inc. purchased a new stake in Cummins during the second quarter valued at approximately $28,000. Prospera Private Wealth LLC acquired a new stake in Cummins during the third quarter worth about $32,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Cummins during the second quarter valued at approximately $28,000. Lynx Investment Advisory purchased a new stake in Cummins during the second quarter worth $29,000. Finally, LRI Investments LLC acquired a new stake 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 related news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 6,489 shares of company stock valued at $2,357,531 in the last 90 days. Insiders own 0.56% of the company’s stock.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be given a dividend of $1.82 per share. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.95%. Cummins’s dividend payout ratio is 48.08%.

Cummins Company Profile

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.