Why Cummins Inc. (NYSE:CMI) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $119.170 on Cummins Inc. (NYSE:CMI) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $8.140 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Cummins Inc. (NYSE:CMI) stands at 17.220.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Cummins Inc. Common Stock, the PEG ratio for coming 3-5 years is 24.870.

Technical Analysis

The technical analysis highlights that Cummins Inc. Common Stock current is trading $2.512 points away or +2.039% from its 50-day moving average of $123.213. Further it is trading $12.179 or +10.726% away its 200-day moving average of $113.546.

The 52-week high of Cummins Inc. (NYSE:CMI) was $127.640 while lowest point recorded in 52-week was $79.880. It implies if stock price makes a movement of over $-1.915, it will record a new 52-week high. In the case of +57.392% drop, it will touch a new 52-week low.

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