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The latest trading session saw Cummins (CMI - Free Report) ending at $230.05, denoting a +0.37% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.43% for the day. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.71%.
Shares of the engine maker have depreciated by 2.63% over the course of the past month, underperforming the Auto-Tires-Trucks sector's gain of 4.16% and the S&P 500's loss of 2.1%.
Analysts and investors alike will be keeping a close eye on the performance of Cummins in its upcoming earnings disclosure. The company's earnings report is set to go public on November 2, 2023. The company's upcoming EPS is projected at $4.71, signifying a 46.73% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $8.19 billion, up 11.74% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $19.63 per share and a revenue of $33.13 billion, demonstrating changes of +29.83% and +18.02%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Cummins. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.7% downward. Cummins is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Cummins is presently being traded at a Forward P/E ratio of 11.68. For comparison, its industry has an average Forward P/E of 11.68, which means Cummins is trading at no noticeable deviation to the group.
Also, we should mention that CMI has a PEG ratio of 1.19. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Automotive - Internal Combustion Engines industry was having an average PEG ratio of 1.19.
The Automotive - Internal Combustion Engines industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Cummins (CMI) Rises Yet Lags Behind Market: Some Facts Worth Knowing
The latest trading session saw Cummins (CMI - Free Report) ending at $230.05, denoting a +0.37% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.43% for the day. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.71%.
Shares of the engine maker have depreciated by 2.63% over the course of the past month, underperforming the Auto-Tires-Trucks sector's gain of 4.16% and the S&P 500's loss of 2.1%.
Analysts and investors alike will be keeping a close eye on the performance of Cummins in its upcoming earnings disclosure. The company's earnings report is set to go public on November 2, 2023. The company's upcoming EPS is projected at $4.71, signifying a 46.73% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $8.19 billion, up 11.74% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $19.63 per share and a revenue of $33.13 billion, demonstrating changes of +29.83% and +18.02%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Cummins. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.7% downward. Cummins is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Cummins is presently being traded at a Forward P/E ratio of 11.68. For comparison, its industry has an average Forward P/E of 11.68, which means Cummins is trading at no noticeable deviation to the group.
Also, we should mention that CMI has a PEG ratio of 1.19. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Automotive - Internal Combustion Engines industry was having an average PEG ratio of 1.19.
The Automotive - Internal Combustion Engines industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.