In yesterday’s Wall Street session, Cummins Inc. (NYSE:CMI) shares traded at $281.01, down -1.79% from the previous session.
CMI stock price is now 10.75% away from the 50-day moving average and 17.61% away from the 200-day moving average. The market capitalization of the company currently stands at $39.86B.
On March 14, 2024, Truist recently initiated its ‘Hold’ rating on the stock quoting a target price of $303, while ‘TD Cowen’ rates the stock as ‘Outperform’
In other news, Barner Sharon R, VP – Chief Administrative Off. sold 2,100 shares of the company’s stock on Feb 28 ’24. The stock was sold for $569,709 at an average price of $271.29. Upon completion of the transaction, the VP – Chief Administrative Off. now directly owns 16,899 shares in the company, valued at $4.75 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 28 ’24, Director Quintos Karen H sold 1,000 shares of the business’s stock. A total of $270,238 was realized by selling the stock at an average price of $270.24. This leaves the insider owning 2,835 shares of the company worth $0.8 million. A total of 1.70% of the company’s stock is owned by insiders.
During the past 12 months, Cummins Inc. has had a low of $203.18 and a high of $287.94. As of last week, the company has a debt-to-equity ratio of 0.81, a current ratio of 1.18, and a quick ratio of 0.74. According to the stock market information, the enterprise value for the company is $45.06B, which is based on a 55.00 price-to-earnings ratio, a 7.75 price-to-earnings-growth ratio, and a beta of 1.04. The fifty day moving average price for CMI is $253.74 and a two-hundred day moving average price translates $238.93 for the stock.
The latest earnings results from Cummins Inc. (NYSE: CMI) was released for Dec, 2023. According to the Specialty Industrial Machinery Company, earnings per share came in at $3.97, missing analysts’ expectations of $4.48 by -0.51. This compares to $4.53 EPS in the same period last year. The net profit margin was 2.16% and return on equity was 8.25% for CMI. The company reported revenue of $8.54 billion for the quarter, compared to $7.77 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.95 percent. For the current quarter, analysts expect CMI to generate $8.49B in revenue.
