After finishing at $230.49 in the prior trading day, Cummins Inc. (NYSE: CMI) closed at $231.84, up 0.59%. In other words, the price has increased by $+1.35 from its previous closing price. On the day, 1355847 shares were traded. CMI stock price reached its highest trading level at $232.74 during the session, while it also had its lowest trading level at $226.66.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Our goal is to gain a better understanding of CMI by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 13.20 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 177.82. For the most recent quarter (mrq), Quick Ratio is recorded 0.80 and its Current Ratio is at 1.30. In the meantime, Its Debt-to-Equity ratio is 0.88 whereas as Long-Term Debt/Eq ratio is at 0.50.
Upgrades & Downgrades
On July 20, 2022, Bernstein Downgraded its rating to Mkt Perform which previously was Outperform and also lowered its target price recommendation from $238 to $190.
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Feb 22 when Fier Walter J sold 3,307 shares for $252.99 per share. The transaction valued at 836,652 led to the insider holds 8,090 shares of the business.
Barner Sharon R sold 5,929 shares of CMI for $1,524,553 on Feb 17. The VP – Chief Administrative Off. now owns 16,144 shares after completing the transaction at $257.13 per share. On Feb 15, another insider, Barner Sharon R, who serves as the VP – Chief Administrative Off. of the company, sold 5,540 shares for $252.34 each. As a result, the insider received 1,397,976 and left with 16,144 shares of the company.
As of this moment, Cummins’s Price-to-Earnings (P/E) ratio for their current fiscal year is 15.34, and their Forward P/E ratio for the next fiscal year is 12.06. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.61. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.21 while its Price-to-Book (P/B) ratio in mrq is 3.66.
Stock Price History:
Over the past 52 weeks, CMI has reached a high of $261.91, while it has fallen to a 52-week low of $184.27. The 50-Day Moving Average of the stock is 247.49, while the 200-Day Moving Average is calculated to be 228.03.
The stock has traded on average 943.46K shares per day over the past 3-months and 1.3M shares per day over the last 10 days, according to various share statistics. A total of 141.50M shares are outstanding, with a floating share count of 140.44M. Insiders hold about 0.20% of the company’s shares, while institutions hold 85.40% stake in the company. Shares short for CMI as of Jan 30, 2023 were 2.75M with a Short Ratio of 2.40M, compared to 3.53M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.95% and a Short% of Float of 1.95%.
Dividends & Splits
In the trailing 12 months, CMI’s forward annual dividend rate was 5.28, compared to 6.28 this year. Against a Trailing Annual Dividend Yield of 2.29%, it implies a Forward Annual Dividend Yield of 2.55%. The stock’s 5-year Average Dividend Yield is 2.72. The current Payout Ratio is 39.70% for CMI, which recently paid a dividend on Mar 08, 2023 with an ex-dividend date of Nov 16, 2022. Stock splits for the company last occurred on Jan 02, 2008 when the company split stock in a 2:1 ratio.
Its stock is currently analyzed by 15 different market analysts. On average, analysts expect EPS of $4.71 for the current quarter, with a high estimate of $5.4 and a low estimate of $4.26, while EPS last year was $2.92. The consensus estimate for the next quarter is $5.07, with high estimates of $5.46 and low estimates of $4.59.
Analysts are recommending an EPS of between $20.5 and $17.57 for the fiscal current year, implying an average EPS of $19.14. EPS for the following year is $19.22, with 20 analysts recommending between $21.67 and $16.6.
12 analysts predict $8.08B in revenue for the current quarter. It ranges from a high estimate of $8.56B to a low estimate of $7.64B. As of the current estimate, Cummins Inc.’s year-ago sales were $6.38B, an estimated increase of 26.60% from the year-ago figure. For the next quarter, 12 analysts are estimating revenue of $8.18B, an increase of 24.30% less than the figure of $26.60% in the same quarter last year. There is a high estimate of $8.63B for the next quarter, whereas the lowest estimate is $7.84B.
A total of 24 analysts have provided revenue estimates for CMI’s current fiscal year. The highest revenue estimate was $32.6B, while the lowest revenue estimate was $26.82B, resulting in an average revenue estimate of $31.29B. In the same quarter a year ago, actual revenue was $28.07B, up 11.50% from the average estimate. Based on 21 analysts’ estimates, the company’s revenue will be $31.53B in the next fiscal year. The high estimate is $33.57B and the low estimate is $29.53B. The average revenue growth estimate for next year is up 0.80% from the average revenue estimate for this year.