Cummins Inc.
 (CMI)

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  • May 18, 2015, 3:03 PM
    • Goldman's sees the S&P 500 hitting a mid-year high of 2,150 by mid-year, but fading to 2,100 by year-end after the Fed hikes rates. Its 12-month forecast of 2,125 stands against the current level of 2,130.
    • With appreciation returns expected to be nil, Goldman suggests having a look at its dividend growth portfolio - a sector-neutral basket of 50 stocks. They have a median yield of 2.5% and are expected to boost payouts by 16% this year and 12% in 2016. The group's P-E ratio is 15 vs. 17.3 for the S&P 500.
    • The ten highest-yielding additions: Harley-Davidson (NYSE:HOG) - with a 2.3% yield, Home Depot (NYSE:HD) - 2.1%, Dr. Pepper Snapple (NYSE:DPS) - 2.5%, National Oilwell Varco (NYSE:NOV) - 3.6%, Regions Financial (NYSE:RF) - 2.3%, Baxter International (NYSE:BAX) - 3.1%, Cummins (NYSE:CMI) - 2.4%, Seagate Technology (NASDAQ:STX) - 3.9%, International Paper (NYSE:IP) - 3.1%, AES Corp (NYSE:AES) - 3%.
    • Looking over a ten-year horizon, Goldman expects dividends to account for 46% of the S&P 500's 5% annualized return, up from 20% during the current bull market which started in 2009.
    • ETFs: DVY, SCHD, ADX, SDOG, DLN, DHS, FDL, DTD, FVD, DVYL, SDYL
    | May 18, 2015, 3:03 PM | 21 Comments
  • May 12, 2015, 3:19 PM
    • Cummins (NYSE:CMI) declares $0.78/share quarterly dividend, in line with previous.
    • Forward yield 2.21%
    • Payable June 1; for shareholders of record May 21; ex-div May 19.
    | May 12, 2015, 3:19 PM
  • Apr. 28, 2015, 7:51 AM
    • Net income grew 14% to $387M, or $2.14 per diluted share vs. $338M, or $1.83 per diluted share in the first quarter of 2014.
    • Revenue by segment: Engine +1%; Distribution +2%; Components +6%; Power Generation +6%.
    • Repurchased 1M shares during the quarter.
    • "We expect profitability for the remainder of the year to increase from first quarter levels as revenues improve and we capture more benefits from cost reduction activities," CEO Tom Linebarger said.
    • The company expects full year 2015 revenues to grow between 2%-4%, and EBIT in the range of 13.5%-14% of sales.
    • Q1 results
    • CMI +0.9% premarket
    | Apr. 28, 2015, 7:51 AM | 1 Comment
  • Apr. 28, 2015, 7:31 AM
    • Cummins (NYSE:CMI): Q1 EPS of $2.14 in-line.
    • Revenue of $4.7B (+6.6% Y/Y) beats by $160M.
    | Apr. 28, 2015, 7:31 AM | 1 Comment
  • Apr. 27, 2015, 5:30 PM
  • Apr. 15, 2015, 2:27 PM
    • Cummins (CMI +0.5%) is higher despite a downgrade to Hold from Buy at Stifel, which believes that several factors including declining Class 8 equipment orders, lower than anticipated market share in the Class 8 market, and continued international headwinds, may hit investor sentiment and continue to pressure the stock.
    • Stifel believes monthly Class 8 equipment orders could slow more than the seasonal norm this springs-summer, driven by historically large OEM backlogs and dwindling available build slots remaining in 2015.
    | Apr. 15, 2015, 2:27 PM
  • Apr. 8, 2015, 10:16 AM
    • Cummins (CMI -0.6%) is downgraded to Neutral from Buy with a $155 price target at Goldman Sachs, which points to a sustained multi-year downturn for capital goods demand in commodity exporting countries.
    • Goldman sees an increasingly challenging multi-year outlook for South America, Asia and Middle East machinery demand, while CMI’s $2.5B U.S. product cycle that had been central to the firm's positive view has been largely realized.
    • The firm likes CMI’s $500M product cycle in China where the Foton Cummins JV is in the early stages of displacing third-party engines, but it believes the U.S. market share risk-reward appears balanced.
    | Apr. 8, 2015, 10:16 AM | 6 Comments
  • Mar. 24, 2015, 7:09 AM
    • Baird lifts its rating on Cummins (NYSE:CMI) to Overweight from Neutral.
    • A price target of $166 is set by Baird on the truck industry manufacturer.
    • The investment firm is calling for the breakout from the tight trading range of Cummuns over the last five months on the strength of the North America truck market.
    • CMI +0.81% premarket.
    | Mar. 24, 2015, 7:09 AM | 3 Comments
  • Mar. 19, 2015, 1:44 PM
    • Class 8 truck orders rose 7% Y/Y to 31.1K in February.
    • Sales of Class 5 - Class 7 trucks were up 2% to 19.7K.
    • ACT analyst Kenny Vieth says a 2015 build schedule which is flying by quickly means it's unlikely robust growth can be seen beyond April or May.
    • Related stocks: PCAR, OTCPK:VOLVY, NAV, CMI, OTCPK:DDAIF.
    | Mar. 19, 2015, 1:44 PM
  • Feb. 12, 2015, 2:42 PM
    • Class 8 tractor deliveries rose 18.1% to 17,373 in January.
    • The mark was the highest for the first month of the year since 2007.
    • The broader category of large trucks saw a sales jump of 12.2% to 30,869 units during the month.
    • Related stocks: PCAR, OTCPK:VOLVY, NAV, CMI, OTCPK:DDAIF.
    | Feb. 12, 2015, 2:42 PM
  • Feb. 9, 2015, 8:14 AM
    • Susquehanna has downgraded Cummins (NYSE:CMI) to Neutral from Positive and lowered its price target to $148 from $168 citing a more challenging macro environment.
    • The firm sees increased headwinds in power generation, a peaking U.S. Class 8 truck cycle for engines and decelerating components growth.
    • Atlantic Equities has also weighed in on Cummins, downgrading the stock to Neutral from Overweight.
    • CMI -1% premarket
    | Feb. 9, 2015, 8:14 AM | 6 Comments
  • Feb. 9, 2015, 6:10 AM
    • Cummins (NYSE:CMI) declares $0.78/share quarterly dividend, in line with previous.
    • Forward yield 2.3%
    • Payable March 2; for shareholders of record Feb. 18; ex-div Feb. 13.
    | Feb. 9, 2015, 6:10 AM
  • Feb. 5, 2015, 9:16 AM
    • Cummins (NYSE:CMI) -3.6% premarket after Q4 results edged Wall Street estimates, but the diesel engine maker cut its FY 2015 revenue forecast, citing weak demand in international markets and a strong dollar.
    • CMI, which gets more than half its revenue from outside the U.S., now sees full-year revenue growth of 2%-4%, which equates to $19.6B-$20B and below its earlier outlook for $20B-$23B; analysts had been eyeing $20.9B in revenues on 9% growth.
    • The weak forecast overshadows an 11.2% Y/Y gain in Q4 revenue to $5.1B, driven by strong demand for the company's truck engines in North America; revenues for the full year totaled a record $19.2B, up 11% Y/Y, on improving demand in on-highway markets in North America.
    • Says it is maintaining its commitment to return half of operating cash flow to shareholders in 2015.
    | Feb. 5, 2015, 9:16 AM | 3 Comments
  • Feb. 5, 2015, 7:35 AM
    • Cummins (NYSE:CMI): Q4 EPS of $2.56 beats by $0.05.
    • Revenue of $5.1B (+11.1% Y/Y) beats by $80M.
    | Feb. 5, 2015, 7:35 AM | 1 Comment
  • Feb. 4, 2015, 5:30 PM
    | Feb. 4, 2015, 5:30 PM | 9 Comments
  • Jan. 27, 2015, 3:58 PM
    • Cummins (CMI -3.8%) is downgraded to Market Perform from Outperform at First Global despite delivering a respectable performance for the final nine months of 2014.
    • CMI’s industrial engines are highly exposed to the construction and mining industries which are being impacted by weak capital spending in China and other emerging markets, the firm says; also, demand in the Chinese and Brazilian truck markets remains weak.
    • At 13.9x estimated CY 2015 earnings, CMI shares already trade at a moderate premium to peers such as Caterpillar, First Global adds.
    • CMI and other equipment manufacturers are broadly lower following Caterpillar's (CAT -7.2%) disappointing quarter: JOY -5.3%, MTW -5.1%, DE -2.7%, CNHI -1.9%.
    | Jan. 27, 2015, 3:58 PM | 1 Comment
Company Description
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines, electric power generation systems and engine-related component products.