Cummins Inc. (NYSE:CMI) is reporting third quarter financial results on Tuesday 27th October 2020, before market open.
According to analysts surveyed by Thomson Reuters, CMI is expected to report 3Q20 income of $ 2.35 per share from revenue of $ 4456.44 million.
For the full year, analysts anticipate top line of $ 18007.80 million, while looking forward to income of $ 9.72 per share bottom line.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 20,742.00 million ~ $ 21,685.00 million
Click Here For More Historical Outlooks Of Cummins Inc.
Previous Quarter Performance
Cummins Inc. revealed income for the second quarter of $ 1.86 per share, from the revenue of $ 3,852.00 million. The quarterly earnings decreased 56.44 percent while revenues contracted 38.08 percent compared with the same quarter last year.
According to street consensus, CMI was expected to report 2Q20 income of $ 0.91 per share from revenue of $ 3693.58 million. The bottom line results beat street analysts by $ 0.95 or 104.40 percent, at the same time, top line results outshined analysts by $ 158.42 million or 4.29 percent.
Stock Performance
Shares of Cummins Inc. traded up $ 2.69 or 1.20 percent on Friday, reaching $ 226.28 with volume of 1.02 million shares. Cummins Inc. has traded high as $ 227.51 and has cracked $ 223.98 on the downward trend
According to the previous trading day, closing price of $ 226.28, representing a 121.31 % increase from the 52 week low of $ 101.03 and a 1.72 % decrease over the 52 week high of $ 227.51.
The company has a market capital of $ 33.42 billion and is part of the Industrials sector and Diversified Industrials industry.
Recent Analyst recommendations
- On 12th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 211.00 target price.
- On 25th September 2020, maintained by Wells Fargo & Co at Overweight rating, with $ 245.00 target price.
- On 23rd September 2020, initiated by Bernstein at Outperform rating, with $ 255.00 target price.
- On 8th September 2020, upgraded by UBS Group to Buy from Neutral rating, with $ 240.00 target price.
Conference Call
Cummins Inc. will be hosting a conference call at 10:00 AM eastern time on 27th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.cummins.com
Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines, and powertrain-related component products worldwide. It operates in five segments: Engine, Distribution, Components, Power Systems, and Electrified Power.
