Brokerages forecast that Cummins Inc. (NYSE:CMI) will post $3.50 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Cummins’ earnings. The highest EPS estimate is $3.77 and the lowest is $3.36. Cummins posted earnings of $3.30 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 6.1%. The company is scheduled to issue its next quarterly earnings report on Tuesday, May 7th.

On average, analysts expect that Cummins will report full-year earnings of $15.48 per share for the current fiscal year, with EPS estimates ranging from $14.06 to $16.06. For the next year, analysts forecast that the company will post earnings of $14.97 per share, with EPS estimates ranging from $13.17 to $17.00. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Cummins.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Wednesday, February 6th. The company reported $3.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.81 by ($0.33). Cummins had a net margin of 9.01% and a return on equity of 29.71%. The company had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $6.08 billion. During the same quarter in the prior year, the company earned $3.03 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year.

Several equities analysts have recently issued reports on CMI shares. Royal Bank of Canada reiterated a “hold” rating and set a $155.00 price target on shares of Cummins in a research report on Monday, December 24th. Robert W. Baird upgraded Cummins from a “neutral” rating to an “outperform” rating and set a $148.40 price objective on the stock in a research note on Thursday. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a research note on Thursday, November 29th. UBS Group set a $130.00 price target on Cummins and gave the company a “sell” rating in a research note on Tuesday, November 6th. Finally, JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $137.00 to $147.00 in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $161.23.

In other Cummins news, CEO Norman Thomas Linebarger sold 24,830 shares of Cummins stock in a transaction that occurred on Monday, December 17th. The shares were sold at an average price of $133.19, for a total transaction of $3,307,107.70. Following the transaction, the chief executive officer now owns 84,418 shares of the company’s stock, valued at $11,243,633.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Tracy A. Embree sold 206 shares of Cummins stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $150.00, for a total transaction of $30,900.00. Following the sale, the vice president now owns 4,221 shares in the company, valued at approximately $633,150. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,582 shares of company stock valued at $6,340,889. 0.67% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of CMI. Oregon Public Employees Retirement Fund lifted its position in shares of Cummins by 12,091.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,411,147 shares of the company’s stock valued at $93,000 after buying an additional 12,309,348 shares during the last quarter. BlackRock Inc. increased its holdings in Cummins by 2.6% in the 4th quarter. BlackRock Inc. now owns 11,093,954 shares of the company’s stock worth $1,482,593,000 after buying an additional 279,849 shares during the period. LSV Asset Management increased its holdings in Cummins by 13.6% in the 4th quarter. LSV Asset Management now owns 3,674,463 shares of the company’s stock worth $491,055,000 after buying an additional 439,936 shares during the period. American Century Companies Inc. boosted its position in Cummins by 12.1% in the 3rd quarter. American Century Companies Inc. now owns 2,518,910 shares of the company’s stock worth $367,937,000 after purchasing an additional 271,489 shares in the last quarter. Finally, FMR LLC boosted its position in Cummins by 11.6% in the 2nd quarter. FMR LLC now owns 2,385,506 shares of the company’s stock worth $317,272,000 after purchasing an additional 248,721 shares in the last quarter. Institutional investors and hedge funds own 89.03% of the company’s stock.

Shares of NYSE:CMI opened at $148.28 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.19. Cummins has a 12 month low of $124.40 and a 12 month high of $173.32. The stock has a market cap of $23.81 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.03 and a beta of 1.14.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

Further Reading: Mutual Funds

Get a free copy of the Zacks research report on Cummins (CMI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.