Cummins (CMI) to Release Earnings on Thursday

Cummins (NYSE:CMI) is scheduled to post its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect Cummins to post earnings of $5.13 per share for the quarter. Cummins has set its FY 2024 guidance at EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. Cummins’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.52 earnings per share. On average, analysts expect Cummins to post $18 EPS for the current fiscal year and $21 EPS for the next fiscal year.

Cummins Stock Down 3.7 %

Shares of CMI stock opened at $282.66 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. The firm’s 50-day moving average is $284.29 and its 200-day moving average is $251.77. The stock has a market cap of $38.66 billion, a price-to-earnings ratio of 54.57, a PEG ratio of 1.98 and a beta of 1.04. Cummins has a 52-week low of $203.18 and a 52-week high of $304.24.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.38%. Cummins’s payout ratio is 129.73%.

Wall Street Analyst Weigh In

CMI has been the topic of a number of research analyst reports. Truist Financial assumed coverage on shares of Cummins in a report on Thursday, March 14th. They issued a “hold” rating and a $303.00 target price on the stock. TD Cowen increased their price target on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. TheStreet cut shares of Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and raised their target price for the stock from $254.00 to $321.00 in a report on Friday, March 15th. Finally, Citigroup raised their target price on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average price target of $279.70.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the sale, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cummins news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the sale, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the sale, the vice president now owns 16,899 shares in the company, valued at approximately $4,584,529.71. The disclosure for this sale can be found here. Insiders have sold 51,289 shares of company stock worth $13,576,838 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

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.