Cummins Reports Fourth Quarter and Full Year 2023 Results
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/23/2026
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- Alphabet added to Dow Jones Industrial Average, Verizon dropped
- Chip stocks plunge, but bargain-hunters limit scale of tech rout
- FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
- Oil prices finish 1% lower as investors focus on Hormuz flows after peace talks
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
- Spain's ex-transport minister sentenced to 24 years for corruption
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
- Needham Starts NeoVolta (NEOV) at Buy
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
TD Cowen on Cummins (CMI): 'Stock could see mild pressure'
February 6, 2024 9:38 AM ESTTD Cowen analyst Matt Elkott reiterated an Outperform rating and $260.00 price target on Cummins (NYSE: CMI).
The analyst comments "CMI beat our and consensus expectations for revenue and EBITDA but missed EPS. The company guided for FY24 revenue to decline 3.5% at the... More
UBS Expects 'Muted' Investor Reaction to Cummins (CMI) Earnings Report
February 6, 2024 9:37 AM ESTUBS analyst Steven Fisher reiterated a Neutral rating and $235.00 price target on Cummins (NYSE: CMI).
The analyst comments "We think investors will have a muted response to CMIs Q4 results and outlook. The quarter included several charges, but excluding the one... More
Evercore ISI Remains Sidelined on Cummins (CMI)
February 6, 2024 9:34 AM ESTEvercore ISI analyst David Raso reiterated an In Line rating and {REMOVEPT} price target on Cummins (NYSE: CMI).
The analyst comments "Stock Reaction Negative, Mgmt Needs To Do More On Margins: Stock trading at ~13.5x implied 24 EPS; given base case 25 returns to... More
Cummins (CMI) Misses Q4 EPS by 31c, Revenue Beats
February 6, 2024 7:33 AM ESTCummins (NYSE: CMI) reported Q4 EPS of $4.14, $0.31 worse than the analyst estimate of $4.45. Revenue for the quarter came in at $8.5 billion versus the consensus estimate of $8.1 billion.
2024 Outlook:
Based on its current forecast, Cummins projects full year 2024 revenues to decline 2% to 5% on a year-over-year basis, and EBITDA to be in the range of 14.4% and 15.4% of sales.
In 2024, we anticipate that demand will slow particularly in the... More
