Jefferies Group Weighs in on Cummins Inc.’s Q1 2017 Earnings (CMI)

Cummins Inc. (NYSE:CMI) – Equities research analysts at Jefferies Group decreased their Q1 2017 earnings per share estimates for shares of Cummins in a note issued to investors on Friday. Jefferies Group analyst S. Volkmann now expects that the firm will earn $1.90 per share for the quarter, down from their prior estimate of $2.00. Jefferies Group also issued estimates for Cummins’ Q2 2017 earnings at $2.45 EPS, Q3 2017 earnings at $1.95 EPS, Q4 2017 earnings at $2.20 EPS, FY2017 earnings at $8.50 EPS and FY2018 earnings at $9.30 EPS.

Several other equities research analysts have also recently issued reports on the stock. Credit Suisse Group reaffirmed a “buy” rating and set a $173.00 price objective on shares of Cummins in a research report on Friday, February 10th. Vetr lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $153.33 price objective on the stock. in a research note on Thursday, February 9th. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $164.00 price objective on the stock in a research note on Tuesday, February 7th. Longbow Research upgraded shares of Cummins from a “neutral” rating to a “buy” rating and set a $165.00 price target on the stock in a research note on Thursday, January 19th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $150.00 price target on shares of Cummins in a research note on Friday, January 13th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. Cummins has an average rating of “Hold” and an average target price of $131.92.

Earnings History and Estimates for Cummins (NYSE:CMI)

“Jefferies Group Weighs in on Cummins Inc.’s Q1 2017 Earnings (CMI)” was first reported by sleekmoney and is the property of of sleekmoney. If you are viewing this news story on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The original version of this news story can be read at http://sleekmoney.com/jefferies-group-weighs-in-on-cummins-inc-s-q1-2017-earnings-cmi/1661999.html.

Cummins (NYSE:CMI) opened at 151.96 on Monday. The firm’s 50 day moving average price is $143.22 and its 200-day moving average price is $132.66. The stock has a market cap of $25.45 billion, a price-to-earnings ratio of 18.46 and a beta of 1.27. Cummins has a 1-year low of $93.27 and a 1-year high of $153.62.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, February 9th. The company reported $2.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.26. The business earned $4.50 billion during the quarter, compared to analyst estimates of $4.77 billion. Cummins had a return on equity of 19.99% and a net margin of 7.96%. The company’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $2.02 EPS.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 6th. Shareholders of record on Friday, February 24th will be given a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a yield of 2.70%. Cummins’s dividend payout ratio (DPR) is presently 49.76%.

“Jefferies Group Weighs in on Cummins Inc.’s Q1 2017 Earnings (CMI)” was first reported by sleekmoney and is the property of of sleekmoney. If you are viewing this news story on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The original version of this news story can be read at http://sleekmoney.com/jefferies-group-weighs-in-on-cummins-inc-s-q1-2017-earnings-cmi/1661999.html.

Large investors have recently bought and sold shares of the stock. Capital World Investors boosted its position in shares of Cummins by 19.1% in the second quarter. Capital World Investors now owns 9,599,846 shares of the company’s stock worth $1,079,407,000 after buying an additional 1,540,865 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Cummins by 4,343.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,172,302 shares of the company’s stock valued at $131,814,000 after buying an additional 1,145,917 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of Cummins by 129.0% in the third quarter. APG Asset Management N.V. now owns 1,251,296 shares of the company’s stock valued at $160,354,000 after buying an additional 704,800 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Cummins by 34.9% in the fourth quarter. AQR Capital Management LLC now owns 2,280,607 shares of the company’s stock valued at $311,690,000 after buying an additional 590,261 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Cummins by 88.4% in the third quarter. Morgan Stanley now owns 1,117,756 shares of the company’s stock valued at $143,241,000 after buying an additional 524,516 shares during the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.

About Cummins

Cummins Inc is a manufacturer of diesel engines. The Company operates through four segments: Engine, Distribution, Components and Power Generation. Its 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, agricultural and governmental equipment markets.

5 Day Chart for NYSE:CMI

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