Wall Street brokerages expect Cummins Inc. (NYSE:CMI) to announce sales of $5.17 billion for the current quarter, Zacks reports. Seven analysts have issued estimates for Cummins’ earnings, with the lowest sales estimate coming in at $5.11 billion and the highest estimate coming in at $5.25 billion. Cummins posted sales of $4.50 billion during the same quarter last year, which suggests a positive year over year growth rate of 14.9%. The business is expected to report its next earnings report before the market opens on Tuesday, February 6th.

On average, analysts expect that Cummins will report full-year sales of $5.17 billion for the current financial year, with estimates ranging from $20.00 billion to $20.24 billion. For the next year, analysts expect that the company will post sales of $21.49 billion per share, with estimates ranging from $20.75 billion to $21.86 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Cummins.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, beating the Zacks’ consensus estimate of $2.47 by $0.24. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter last year, the firm posted $2.02 EPS. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year.

Several equities research analysts recently issued reports on CMI shares. Zacks Investment Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $187.00 price target on the stock in a research note on Thursday, September 21st. Buckingham Research lifted their price target on shares of Cummins from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Argus lifted their price target on shares of Cummins from $172.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Barclays started coverage on shares of Cummins in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $180.00 price target on the stock. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $190.00 price target (up previously from $186.00) on shares of Cummins in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $178.69.

Cummins (CMI) opened at $184.18 on Friday. Cummins has a one year low of $134.06 and a one year high of $185.10. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The company has a market cap of $30,521.42, a price-to-earnings ratio of 18.70, a PEG ratio of 1.32 and a beta of 1.14.

A number of hedge funds have recently made changes to their positions in CMI. Boston Partners acquired a new position in Cummins during the 3rd quarter worth $416,229,000. Janus Henderson Group PLC grew its holdings in Cummins by 784.9% during the 2nd quarter. Janus Henderson Group PLC now owns 784,776 shares of the company’s stock worth $127,307,000 after acquiring an additional 696,090 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in Cummins by 203.7% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 926,242 shares of the company’s stock worth $155,636,000 after acquiring an additional 621,292 shares in the last quarter. FMR LLC grew its holdings in Cummins by 43.8% during the 2nd quarter. FMR LLC now owns 1,989,718 shares of the company’s stock worth $322,772,000 after acquiring an additional 606,085 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Cummins by 4.1% during the 2nd quarter. BlackRock Inc. now owns 10,633,275 shares of the company’s stock worth $1,724,930,000 after acquiring an additional 422,135 shares in the last quarter. 82.31% of the stock is owned by institutional investors.

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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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Earnings History and Estimates for Cummins (NYSE:CMI)

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