Cummins (NYSE:CMI) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of – for the period. The company issued revenue guidance of $23.77 billion-$24.57 billion, compared to the consensus revenue estimate of $22.20 billion.
CMI stock traded down $2.71 during midday trading on Thursday, reaching $255.17. 1,101,587 shares of the stock were exchanged, compared to its average volume of 1,075,272. The stock has a market capitalization of $37.39 billion, a PE ratio of 24.07, a P/E/G ratio of 1.94 and a beta of 1.09. Cummins has a 52 week low of $154.67 and a 52 week high of $277.09. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.94 and a quick ratio of 1.33. The company has a fifty day moving average price of $260.71 and a 200 day moving average price of $245.15.
Cummins (NYSE:CMI) last issued its quarterly earnings data on Monday, May 3rd. The company reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.57. Cummins had a return on equity of 20.30% and a net margin of 8.12%. The business had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same quarter in the previous year, the company posted $3.18 EPS. Cummins’s quarterly revenue was up 21.6% compared to the same quarter last year. As a group, analysts anticipate that Cummins will post 11.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 3rd. Stockholders of record on Friday, May 21st will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, May 20th. Cummins’s dividend payout ratio (DPR) is presently 35.88%.
Several research firms have recently issued reports on CMI. Evercore ISI upped their target price on Cummins from $291.00 to $358.00 in a report on Wednesday, May 12th. Jefferies Financial Group raised Cummins from a hold rating to a buy rating and upped their target price for the company from $250.00 to $325.00 in a report on Wednesday, March 10th. Deutsche Bank Aktiengesellschaft upped their target price on Cummins from $252.00 to $260.00 and gave the company a hold rating in a report on Monday, April 19th. BMO Capital Markets upped their target price on Cummins from $235.00 to $270.00 and gave the company a market perform rating in a report on Wednesday, May 12th. Finally, Vertical Research initiated coverage on Cummins in a report on Wednesday, January 20th. They issued a hold rating for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Cummins presently has an average rating of Hold and an average price target of $261.70.
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 New Power. 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 new parts and services, as well as remanufactured parts and engines.
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