Somewhat Favorable News Coverage Somewhat Unlikely to Impact Cummins (CMI) Stock Price
Media headlines about Cummins (NYSE:CMI) have been trending somewhat positive recently, according to Accern. The research group identifies negative and positive news coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Cummins earned a news impact score of 0.21 on Accern’s scale. Accern also assigned media coverage about the company an impact score of 46.2768558569396 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Zacks: Brokerages Anticipate Cummins Inc. (CMI) Will Announce Quarterly Sales of $4.72 Billion (americanbankingnews.com)
- Eaton Cummins Joint Venture Debuts First Automated Transmission with a Host of Industry-First Features (nasdaq.com)
- $2.41 Earnings Per Share Expected for Cummins Inc. (CMI) This Quarter (americanbankingnews.com)
- Cummins Inc. (CMI) Rating Increased to Buy at Zacks Investment Research (americanbankingnews.com)
- Makers of Fuel-Guzzling Big Rigs Try to Go Green (finance.yahoo.com)
Shares of Cummins (CMI) opened at 167.94 on Tuesday. The company has a market capitalization of $28.05 billion, a price-to-earnings ratio of 18.98 and a beta of 1.10. Cummins has a one year low of $119.41 and a one year high of $170.68. The stock has a 50 day moving average of $158.40 and a 200-day moving average of $157.01.
Cummins (NYSE:CMI) last posted its earnings results on Tuesday, August 1st. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.05). The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.80 billion. Cummins had a net margin of 8.10% and a return on equity of 20.67%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.40 earnings per share. On average, equities analysts expect that Cummins will post $7.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were given a dividend of $1.08 per share. This is an increase from Cummins’s previous quarterly dividend of $1.03. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Wednesday, August 16th. Cummins’s dividend payout ratio is currently 48.76%.
Several equities analysts recently commented on the stock. Deutsche Bank AG boosted their price objective on shares of Cummins from $139.00 to $142.00 and gave the company a “sell” rating in a research note on Tuesday, July 4th. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $165.00 price objective on shares of Cummins in a research note on Thursday, September 7th. ValuEngine cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $159.00 price objective on shares of Cummins in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $161.21.
In related news, CFO Pat Ward sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $169.00, for a total value of $845,000.00. Following the completion of the sale, the chief financial officer now directly owns 245 shares in the company, valued at $41,405. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Franklin R. Changdiaz sold 1,633 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total value of $260,087.91. Following the completion of the sale, the director now owns 5,814 shares of the company’s stock, valued at $925,995.78. The disclosure for this sale can be found here. Insiders have sold a total of 44,183 shares of company stock valued at $7,320,858 over the last quarter. Corporate insiders own 0.62% of the company’s stock.
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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