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The electrification of the automobile is an inevitability. Ironic, given that some of the first cars ever made were electric. Somehow, whether it was technology or politics, the internal combustion engine won out initially. Now here we are, decades later and the tables have turned. New restrictions internationally, combined with pledges from major automotive firms, have change the future trajectory of the auto market. That doesn’t mean that the old dinosaur-burning engines are all going to go by the wayside. In some settings, the ICE is the only way to get the job done.
If record profits are in the job description, then today’s Bull of the Day could be the one that gets it done. Today’s Bull of the Day is Zacks Rank #1 (Strong Buy) Cummins (CMI - Free Report) . 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 New Power. 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 new parts and services, as well as remanufactured parts and engines. It also provides power generation systems, high-horsepower engines, heavy and medium duty engines, application engineering services, custom-designed assemblies, retail and wholesale aftermarket parts, and in-shop and field-based repair services.
In addition to the favorable Zacks Rank, the stock currently enjoys a Zacks Value Style Score of C, Growth of B and Momentum A to help it round out with a VGM Composite Score of A. The favorable rank stems from the series of earnings estimate revisions coming from analysts. Over the last sixty days, ten analysts have increased their earnings estimates for the current year, while nine have done so for next year. The bullish moves have increased our Zacks Consensus Estimates for the current year from $14.03 to $16.18 while next year’s number is up from $16.32 to $18.49.
Those moves in estimates now forecast 34.72% earnings growth for the current year and 14.27% growth for next year. That’s on current year revenue growth of 23.1% and next year’s 4.93%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Bull of the Day: Cummins (CMI)
The electrification of the automobile is an inevitability. Ironic, given that some of the first cars ever made were electric. Somehow, whether it was technology or politics, the internal combustion engine won out initially. Now here we are, decades later and the tables have turned. New restrictions internationally, combined with pledges from major automotive firms, have change the future trajectory of the auto market. That doesn’t mean that the old dinosaur-burning engines are all going to go by the wayside. In some settings, the ICE is the only way to get the job done.
If record profits are in the job description, then today’s Bull of the Day could be the one that gets it done. Today’s Bull of the Day is Zacks Rank #1 (Strong Buy) Cummins (CMI - Free Report) . 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 New Power. 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 new parts and services, as well as remanufactured parts and engines. It also provides power generation systems, high-horsepower engines, heavy and medium duty engines, application engineering services, custom-designed assemblies, retail and wholesale aftermarket parts, and in-shop and field-based repair services.
In addition to the favorable Zacks Rank, the stock currently enjoys a Zacks Value Style Score of C, Growth of B and Momentum A to help it round out with a VGM Composite Score of A. The favorable rank stems from the series of earnings estimate revisions coming from analysts. Over the last sixty days, ten analysts have increased their earnings estimates for the current year, while nine have done so for next year. The bullish moves have increased our Zacks Consensus Estimates for the current year from $14.03 to $16.18 while next year’s number is up from $16.32 to $18.49.
Cummins Inc. Price and Consensus
Cummins Inc. price-consensus-chart | Cummins Inc. Quote
Those moves in estimates now forecast 34.72% earnings growth for the current year and 14.27% growth for next year. That’s on current year revenue growth of 23.1% and next year’s 4.93%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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