Somewhat Favorable News Coverage Very Likely to Affect Cummins (CMI) Stock Price
News stories about Cummins (NYSE:CMI) have been trending somewhat positive on Thursday, according to Accern Sentiment. Accern identifies negative and positive news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Cummins earned a news impact score of 0.14 on Accern’s scale. Accern also gave media headlines about the company an impact score of 90 out of 100, meaning that recent news coverage is very likely to have an effect on the company’s share price in the next several days.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:
- Financial Contrast: Trex Company (TREX) vs. Cummins (CMI) (americanbankingnews.com)
- A Technical Strategy for Hewlett Packard Enterprise Company (HPE), Cummins Inc. (CMI) – AllStockNews (allstocknews.com)
- Cummins Inc. (CMI) CFO Pat Ward Sells 14,050 Shares (americanbankingnews.com)
- Watching Historical Performance for Cummins Inc. (NYSE:CMI) – Jonesboro Recorder (jonesbororecorder.com)
- As Cummins (CMI) Share Value Rose, Schwerin Boyle Capital Management Boosted Position; Gulf International Bank … – BZ Weekly (bzweekly.com)
Cummins (NYSE:CMI) traded down 0.13% during midday trading on Thursday, reaching $158.98. 240,092 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $157.81 and a 200-day moving average of $149.48. The stock has a market cap of $26.60 billion, a PE ratio of 18.23 and a beta of 1.06. Cummins has a 12 month low of $105.33 and a 12 month high of $164.23.
Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.55. The business had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Cummins had a net margin of 8.25% and a return on equity of 20.87%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 earnings per share. On average, equities research analysts predict that Cummins will post $7.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 19th were issued a $1.025 dividend. This represents a $4.10 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Wednesday, May 17th. Cummins’s dividend payout ratio (DPR) is currently 46.96%.
Several equities analysts have recently commented on CMI shares. Deutsche Bank AG restated a “sell” rating and issued a $154.00 target price (up from $142.00) on shares of Cummins in a research report on Wednesday, May 3rd. Stifel Nicolaus restated a “hold” rating and issued a $150.00 target price on shares of Cummins in a research report on Wednesday, April 12th. Credit Suisse Group set a $173.00 target price on shares of Cummins and gave the company a “buy” rating in a research report on Monday, March 27th. Wells Fargo & Company upgraded shares of Cummins from a “market perform” rating to an “outperform” rating in a research report on Monday, April 17th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $140.00 target price on shares of Cummins in a research report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $151.40.
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In related news, CEO Norman Thomas Linebarger sold 24,000 shares of Cummins stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $163.00, for a total value of $3,912,000.00. Following the sale, the chief executive officer now owns 24,607 shares in the company, valued at $4,010,941. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tony Satterthwaite sold 4,000 shares of Cummins stock in a transaction on Friday, April 28th. The shares were sold at an average price of $151.03, for a total transaction of $604,120.00. Following the completion of the sale, the insider now owns 41,902 shares in the company, valued at approximately $6,328,459.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,626 shares of company stock worth $8,521,945. 0.62% of the stock is currently owned by company insiders.
Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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