Cummins (CMI) to Release Earnings on Tuesday

Cummins (NYSE:CMI) will likely be issuing its quarterly earnings data before the market opens on Tuesday, February 4th. Analysts expect the company to announce 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 interested in registering for the company’s conference call can do so using this link.

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

Cummins Trading Down 1.0 %

Shares of CMI opened at $356.25 on Monday. The business’s 50-day moving average price is $362.75 and its 200 day moving average price is $333.59. 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 stock has a market capitalization of $48.87 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.63 and a beta of 1.01. Cummins has a 1-year low of $236.00 and a 1-year high of $387.90.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the company’s 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 transaction, the vice president now directly owns 20,803 shares in the company, 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 accessible through this hyperlink. In the last quarter, insiders have sold 6,490 shares of company stock valued at $2,357,880. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CMI shares. The Goldman Sachs Group upped 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. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Finally, Robert W. Baird increased their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.