Research Analysts Issue Forecasts for Cummins Inc.’s Q4 2024 Earnings (NYSE:CMI)

Cummins Inc. (NYSE:CMI) – Zacks Research boosted their Q4 2024 earnings per share (EPS) estimates for Cummins in a research report issued to clients and investors on Wednesday, August 14th. Zacks Research analyst R. Singhi now expects that the company will post earnings per share of $4.74 for the quarter, up from their previous forecast of $4.18. The consensus estimate for Cummins’ current full-year earnings is $18.61 per share. Zacks Research also issued estimates for Cummins’ Q2 2025 earnings at $5.77 EPS, Q3 2025 earnings at $5.28 EPS, Q4 2025 earnings at $5.37 EPS, FY2025 earnings at $21.65 EPS, Q2 2026 earnings at $6.94 EPS and FY2026 earnings at $24.71 EPS.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.85 by $0.41. The firm had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. Cummins’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $5.18 earnings per share.

CMI has been the topic of several other reports. Robert W. Baird raised their target price on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Evercore ISI raised their price objective on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a report on Monday. Barclays raised their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. TD Cowen raised their price objective on Cummins from $272.00 to $292.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, Raymond James began coverage on Cummins in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $299.55.

Cummins Stock Down 0.3 %

Cummins stock opened at $300.55 on Monday. The firm has a market cap of $41.11 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99. Cummins has a 52 week low of $212.80 and a 52 week high of $322.83. The business’s 50-day moving average price is $284.47 and its 200 day moving average price is $281.73. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.51.

Cummins Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 23rd will be given a $1.82 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $7.28 dividend on an annualized basis and a yield of 2.42%. This is an increase from Cummins’s previous quarterly dividend of $1.68. Cummins’s payout ratio is currently 53.29%.

Insider Activity

In other news, VP Jeffrey T. Wiltrout acquired 282 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average cost of $285.11 per share, with a total value of $80,401.02. Following the completion of the purchase, the vice president now owns 1,262 shares of the company’s stock, valued at approximately $359,808.82. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeffrey T. Wiltrout bought 282 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average cost of $285.11 per share, with a total value of $80,401.02. Following the completion of the purchase, the vice president now directly owns 1,262 shares in the company, valued at $359,808.82. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Institutional Trading of Cummins

A number of institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in Cummins by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock worth $2,342,001,000 after buying an additional 604,735 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Cummins by 4.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,590,894 shares of the company’s stock valued at $620,701,000 after purchasing an additional 106,017 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cummins by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock valued at $469,869,000 after purchasing an additional 26,977 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Cummins by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock valued at $468,503,000 after purchasing an additional 31,190 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its stake in Cummins by 3.1% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 1,430,966 shares of the company’s stock valued at $342,817,000 after acquiring an additional 43,090 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers 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; and offers parts and services, as well as remanufactured parts and engines.