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Market Update (NYSE:CMI): Cummins and Komatsu Partner to Improve Global Communities through Corporate Responsibility Partnership

[Business Wire] – Tom Linebarger, CEO of Cummins Inc. , and Tetsuji Ohashi, CEO of Komatsu Ltd. today announced a global corporate responsibility partnership to improve communities around the world. Read more on this. Cummins Inc. (CMI) , with a current market cap of $18.28B, started the session at $106.83. Looking at today’s trading action, the company’s one day range from $106.30 to $108.14 with a trailing 52-week range being $79.88 to $143.40. Priced at 13.46x this year’s forecasted earnings, CMI shares are relatively expensive compared to the industry’s 8.86x forward p/e ratio. And for passive income investors, the company pays shareholders $3.90 per share annually in dividends, yielding 3.67%. In a review of the consensus earnings estimate this quarter, 23 sell-side analysts are looking at $1.79 per share, which would be $0.35 worse than the year-ago quarter and a $0.06 sequential decrease. Investors should also note that the full-year EPS estimate of $7.81 is a $1.12 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $4.30 Billion. If realized, that would be a 8.70% decrease over the year-ago quarter. Recently, Buckingham Research downgraded CMI from Buy to Neutral (Apr 6, 2016). Previously, Citigroup downgraded CMI from Buy to Neutral. The average price target for CMI shares by the analysts covering it is $98.00, which is 8.27% below where the stock opened. See more in (NYSE:CMI) Similar Articles: Market Update: Cummins Inc (NYSE:CMI) – Cummins Reorganizing Kent Operations to Improve Efficiencies Market Update: Cummins Inc (NYSE:CMI) – Cummins Announces $500 Million Accelerated Share Repurchase Company Update: Cummins Inc (NYSE:CMI) – Cummins Announces Actions to Respond to Slowdown in Global Markets and Reports Third Quarter 2015 Results
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