Equities research analysts expect Cummins Inc. (NYSE:CMI) to announce $3.64 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Cummins’ earnings, with the lowest sales estimate coming in at $3.05 billion and the highest estimate coming in at $4.30 billion. Cummins posted sales of $6.22 billion in the same quarter last year, which suggests a negative year over year growth rate of 41.5%. The company is scheduled to issue its next quarterly earnings report on Tuesday, August 4th.

According to Zacks, analysts expect that Cummins will report full-year sales of $17.30 billion for the current fiscal year, with estimates ranging from $16.31 billion to $18.72 billion. For the next financial year, analysts anticipate that the business will report sales of $19.59 billion, with estimates ranging from $18.29 billion to $21.00 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Cummins.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, April 28th. The company reported $3.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.18 by $1.00. Cummins had a return on equity of 24.86% and a net margin of 9.34%. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the business posted $4.20 earnings per share. The company’s revenue for the quarter was down 16.5% on a year-over-year basis.

CMI has been the topic of several analyst reports. Piper Sandler downgraded Cummins from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $195.00 to $162.00 in a report on Tuesday, May 12th. TheStreet upgraded shares of Cummins from a “c+” rating to a “b” rating in a report on Friday, May 1st. Cfra decreased their price objective on shares of Cummins from $176.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, April 28th. Citigroup boosted their target price on shares of Cummins from $182.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Finally, Wolfe Research upgraded Cummins from an “underperform” rating to a “market perform” rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $169.81.

Shares of CMI traded up $0.19 during trading hours on Thursday, hitting $173.26. The company had a trading volume of 1,268,035 shares, compared to its average volume of 1,456,797. The firm has a market cap of $25.53 billion, a P/E ratio of 12.72, a P/E/G ratio of 2.33 and a beta of 1.15. The stock’s 50 day moving average price is $167.24 and its 200 day moving average price is $160.50. The company has a quick ratio of 0.89, a current ratio of 1.40 and a debt-to-equity ratio of 0.20. Cummins has a 52-week low of $101.03 and a 52-week high of $186.73.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were given a dividend of $1.311 per share. This represents a $5.24 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Thursday, May 21st. Cummins’s dividend payout ratio is 34.82%.

Institutional investors have recently bought and sold shares of the stock. AlphaCrest Capital Management LLC raised its position in Cummins by 27.8% in the 4th quarter. AlphaCrest Capital Management LLC now owns 7,224 shares of the company’s stock worth $1,293,000 after purchasing an additional 1,571 shares during the period. Cubist Systematic Strategies LLC raised its position in Cummins by 221.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 63,828 shares of the company’s stock worth $11,423,000 after purchasing an additional 43,942 shares during the period. Amalgamated Bank raised its position in Cummins by 5.5% in the 4th quarter. Amalgamated Bank now owns 22,900 shares of the company’s stock worth $4,098,000 after purchasing an additional 1,198 shares during the period. Altshuler Shaham Ltd raised its position in Cummins by 49.0% in the 4th quarter. Altshuler Shaham Ltd now owns 21,528 shares of the company’s stock worth $3,852,000 after purchasing an additional 7,076 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Cummins by 0.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 184,682 shares of the company’s stock worth $24,991,000 after acquiring an additional 637 shares during the period. 80.97% of the stock is currently owned by institutional investors.

About Cummins

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.

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