Cummins (CMI) Rating Reiterated by Seaport Global Securities

Cummins (NYSE:CMI)‘s stock had its “neutral” rating restated by equities researchers at Seaport Global Securities in a research note issued to investors on Tuesday. Seaport Global Securities also issued estimates for Cummins’ Q4 2017 earnings at $2.65 EPS, FY2017 earnings at $10.25 EPS, Q1 2018 earnings at $2.89 EPS, Q2 2018 earnings at $3.11 EPS, Q3 2018 earnings at $2.96 EPS, Q4 2018 earnings at $3.01 EPS, FY2018 earnings at $11.96 EPS and FY2019 earnings at $12.95 EPS.

A number of other research firms have also recently issued reports on CMI. Stifel Nicolaus reiterated a “hold” rating and set a $190.00 target price (up previously from $186.00) on shares of Cummins in a report on Wednesday, November 1st. Zacks Investment Research cut Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. BMO Capital Markets increased their target price on Cummins from $185.00 to $190.00 and gave the stock a “market perform” rating in a report on Wednesday, November 8th. Jefferies Group increased their target price on Cummins from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, November 1st. Finally, ValuEngine cut Cummins from a “buy” rating to a “hold” rating in a report on Saturday, November 25th. 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 company. The company currently has an average rating of “Hold” and an average price target of $178.69.

Shares of Cummins (NYSE:CMI) traded up $0.03 during trading on Tuesday, reaching $183.72. The company had a trading volume of 870,290 shares, compared to its average volume of 1,212,517. The firm has a market cap of $30,490.00, a P/E ratio of 18.67, a PEG ratio of 1.26 and a beta of 1.14. Cummins has a twelve month low of $140.18 and a twelve month high of $185.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.47 by $0.24. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $4.79 billion. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The company’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 EPS. equities research analysts predict that Cummins will post 10.21 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ETRADE Capital Management LLC grew its holdings in shares of Cummins by 1.4% in the 2nd quarter. ETRADE Capital Management LLC now owns 2,027 shares of the company’s stock valued at $329,000 after acquiring an additional 27 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of Cummins by 0.3% in the 2nd quarter. Advisory Services Network LLC now owns 15,459 shares of the company’s stock valued at $2,508,000 after acquiring an additional 51 shares in the last quarter. Veritable L.P. grew its holdings in shares of Cummins by 1.3% in the 2nd quarter. Veritable L.P. now owns 4,884 shares of the company’s stock valued at $792,000 after acquiring an additional 65 shares in the last quarter. Ropes Wealth Advisors LLC grew its holdings in shares of Cummins by 1.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,730 shares of the company’s stock valued at $605,000 after acquiring an additional 67 shares in the last quarter. Finally, Guardian Capital Advisors LP grew its holdings in shares of Cummins by 2.6% in the 2nd quarter. Guardian Capital Advisors LP now owns 2,950 shares of the company’s stock valued at $487,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

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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.

Analyst Recommendations for Cummins (NYSE:CMI)

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