We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cummins and Hyundai to Collaborate for Fuel Cell Technology
Read MoreHide Full Article
Cummins Inc. (CMI - Free Report) and Hyundai Motor Company have signed a memorandum of understanding (MOU) for Hydrogen Fuel Cell Technology. The companies intend to evaluate opportunities to develop and market electric drives for commercial vehicles.
The new power trains are anticipated to be developed by integrating Cummins electric power trains, battery and control technologies, with Hyundai fuel cell systems.
Initially, under this agreement, the companies will focus on the North American commercial vehicle market. They plan to work with North American OEMs for the integration of these systems in their vehicles.
The cooperation is a golden opportunity for Hyundai and Cummins to leverage their respective strengths to grow and widen their product portfolios. It is anticipated to have a significant impact on the commercial vehicle market.
The partnership will likely help Hyundai to diversify business and reinforce its global hydrogen leadership through the sale of Hydrogen fuel cell systems. The collaboration will aid Cummins to expand its electrified power product portfolio and Hyundai to strengthen presence in the North American commercial Market.
Over the past couple of years, Cummins has been focusing on introducing innovative products and making acquisitions to generate high returns. In sync with its aim to be a leader in electrified power, it acquired battery specialist Brammo in 2017. In 2018, Cummins took over Johnson Matthey’s UK automotive battery systems business to bolster its electrification and energy storage capabilities. The auto-engine maker further strengthened its portfolio by acquiring Silicon Valley-based Efficient Drivetrains last year. Lately, it has closed the acquisition of Hydrogenics Corporation, which will likely boost Cummins’ ability to innovate hydrogen fuel-cell technologies across commercial markets.
Beside widening its product portfolio through acquisitions, the company signed separate partnership deals with Hyundai Construction and Isuzu Motors last October. It will develop an electric-powered mini excavator with Hyundai. The Cummins-Isuzu Motors team will discover opportunities in the powertrain area. Further, it collaborated with Russia’s KAMAZ to supply electrified power solutions for KAMAZ’s latest line of battery-powered vehicles.
All the aforementioned initiatives are likely to bolster Cummins’ prospects. The company, with a Zacks Rank #3 (Hold), is focused on enhancing shareholder value through aggressive share repurchases and increasing dividend payouts. For 2019, it set a target to return 75% of yearly operating cash flow to shareholders in forms of dividends and share repurchases.
Lithia Motors has an expected earnings growth rate of 12.8% for 2019. The company’s shares have gained 70.6% year to date.
Douglas Dynamics has an expected earnings growth rate of 11.7% for 2019. The company’s shares have gained 27.3% year to date.
SPX has an estimated earnings growth rate of 22.7% for 2019. Its shares have gained 43.8% year to date.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year. See their latest picks free >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cummins and Hyundai to Collaborate for Fuel Cell Technology
Cummins Inc. (CMI - Free Report) and Hyundai Motor Company have signed a memorandum of understanding (MOU) for Hydrogen Fuel Cell Technology. The companies intend to evaluate opportunities to develop and market electric drives for commercial vehicles.
The new power trains are anticipated to be developed by integrating Cummins electric power trains, battery and control technologies, with Hyundai fuel cell systems.
Initially, under this agreement, the companies will focus on the North American commercial vehicle market. They plan to work with North American OEMs for the integration of these systems in their vehicles.
The cooperation is a golden opportunity for Hyundai and Cummins to leverage their respective strengths to grow and widen their product portfolios. It is anticipated to have a significant impact on the commercial vehicle market.
The partnership will likely help Hyundai to diversify business and reinforce its global hydrogen leadership through the sale of Hydrogen fuel cell systems. The collaboration will aid Cummins to expand its electrified power product portfolio and Hyundai to strengthen presence in the North American commercial Market.
Over the past couple of years, Cummins has been focusing on introducing innovative products and making acquisitions to generate high returns. In sync with its aim to be a leader in electrified power, it acquired battery specialist Brammo in 2017. In 2018, Cummins took over Johnson Matthey’s UK automotive battery systems business to bolster its electrification and energy storage capabilities. The auto-engine maker further strengthened its portfolio by acquiring Silicon Valley-based Efficient Drivetrains last year. Lately, it has closed the acquisition of Hydrogenics Corporation, which will likely boost Cummins’ ability to innovate hydrogen fuel-cell technologies across commercial markets.
Beside widening its product portfolio through acquisitions, the company signed separate partnership deals with Hyundai Construction and Isuzu Motors last October. It will develop an electric-powered mini excavator with Hyundai. The Cummins-Isuzu Motors team will discover opportunities in the powertrain area. Further, it collaborated with Russia’s KAMAZ to supply electrified power solutions for KAMAZ’s latest line of battery-powered vehicles.
All the aforementioned initiatives are likely to bolster Cummins’ prospects. The company, with a Zacks Rank #3 (Hold), is focused on enhancing shareholder value through aggressive share repurchases and increasing dividend payouts. For 2019, it set a target to return 75% of yearly operating cash flow to shareholders in forms of dividends and share repurchases.
Stocks to Consider
A few better-ranked stocks in the Auto-Tires-Trucks sector are Lithia Motors (LAD - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy), and Douglas Dynamics, Inc. (PLOW - Free Report) and SPX Corp. (SPXC - Free Report) , carrying a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Lithia Motors has an expected earnings growth rate of 12.8% for 2019. The company’s shares have gained 70.6% year to date.
Douglas Dynamics has an expected earnings growth rate of 11.7% for 2019. The company’s shares have gained 27.3% year to date.
SPX has an estimated earnings growth rate of 22.7% for 2019. Its shares have gained 43.8% year to date.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>