Cummins Inc. (CMI)
306.09 USD +14.29 (+4.90%) Volume: 1.85M
Cummins Inc.’s stock price soars to 306.09 USD, marking a significant trading session increase of +4.90%. With a robust trading volume of 1.85M and a remarkable YTD percentage change of +27.77%, CMI’s stock performance continues to impress investors and dominate the market.
Latest developments on Cummins Inc.
Cummins Inc. has been making headlines recently with reports of record revenue in the second quarter of 2024, exceeding estimates and increasing revenue guidance thanks to strong demand in North America. The company’s stock price has been on the rise as a result, with shares reaching a new 12-month high. Cummins also raised its full-year outlook as demand continues to pick up steam. In addition to its financial success, Cummins is also investing in renovations at its General Office Building and Fuel Systems plant, showing a commitment to sustainability and innovation. With positive earnings reports and a focus on greener engines, Cummins is poised for continued growth in the market.
Cummins Inc. on Smartkarma
Analysts on Smartkarma have provided bullish coverage on Cummins Inc, a global leader in clean energy technology. Value Investors Club highlighted an oddlot exchange offering with a high pre-tax gain of approximately $2,150 per account compared to other split-off exchanges. Participants must buy 99 shares of CMI at $265.80 and tender all shares by March 13th to receive around 1,255 shares of ATMU in exchange. Baptista Research also emphasized Cummins’ market moderation and cost reduction measures, attributing the company’s success to its record-breaking fourth quarter in 2023, with revenues totaling $8.5 billion.
Furthermore, Baptista Research’s financial forecasts for Cummins Inc revealed that while Q1 2024 saw a marginal decrease in revenues compared to Q1 2023, EBITDA doubled, reaching $2.6 billion or 30.6%. These insights provide investors with a comprehensive view of the factors influencing Cummins’ performance in 2024 and beyond, showcasing the company’s commitment to innovation and sustainability in the clean energy sector.
A look at Cummins Inc. Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 5 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Cummins Inc has a positive long-term outlook. With a high score in dividends and momentum, the company is seen as a strong performer in terms of returning value to its shareholders and maintaining upward momentum in the market. Additionally, Cummins Inc scores well in resilience, indicating its ability to weather economic uncertainties and challenges. While the company’s scores in value and growth are not as high, the overall outlook for Cummins Inc remains optimistic.
Cummins Inc, a company known for designing, manufacturing, distributing, and servicing diesel and natural gas engines, also excels in producing electric power generation systems and engine-related components. With a diverse product line that includes filtration, exhaust aftertreatment, fuel systems, controls, and air handling systems, Cummins Inc demonstrates a commitment to innovation and sustainability in the industry. Overall, the company’s strong performance in dividends, momentum, and resilience bodes well for its future growth and stability in the market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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