Mon, May 18, 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
Tue, May 12, 3:19 PM
Tue, Apr. 28, 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
Tue, Apr. 28, 7:31 AM
Mon, Apr. 27, 5:30 PM
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Wed, Apr. 15, 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.
Wed, Apr. 8, 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.
Tue, Mar. 24, 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.
Thu, Mar. 19, 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.
Thu, Feb. 12, 2:42 PM| Comment!
Mon, Feb. 9, 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
Mon, Feb. 9, 6:10 AM
Thu, Feb. 5, 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.
Thu, Feb. 5, 7:35 AM
Wed, Feb. 4, 5:30 PM
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Tue, Jan. 27, 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%.
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