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Fly News Breaks for February 5, 2020
Feb 5, 2020 | 07:38 EDT
Credit Suisse analyst Jamie Cook lowered his price target for Cummins to $205 from $214, while keeping an Outperform rating on the shares. The analyst notes that Cummins beat Q4 EPS on a better topline and provided a 2020 implied EPS outlook of about $12.00, assuming no share repurchase, which he views as good enough relative to the street expectations while setting the bar appropriately low. Cook believes the "considerably weak" start to Q1 EPS, reflecting production cuts from customers, potential risk from the coronavirus, and restructuring savings not hitting EPS until the second quarter is weighing on the name, implying EPS is back-end loaded. Nonetheless, he thinks these concerns are short term. He has an Outperform rating on the shares.
News For CMI From the Last 2 Days
Oct 27, 2020 | 07:33 EDT
Reports Q3 revenue $5.1B, consensus $4.46B."Cummins successfully translated increased sales into strong profits and produced record operating cash flow during the third quarter," said Chairman and CEO Tom Linebarger. "I want to thank our employees all over the globe once again for their dedication to our company and to our customers. Over the last six months we have faced both the most severe decline in quarterly sales in our history as well as the largest sequential increase. We continue to work safely and effectively through an incredibly challenging period, meeting our commitments to customers who provide products critical to the functioning of the global economy."
Oct 26, 2020 | 12:48 EDT
Notable companies reporting before tomorrow's open, with earnings consensus, include Pfizer (PFE), consensus 71c... Merck (MRK), consensus $1.43... Eli Lilly (LLY), consensus $1.71... 3M (MMM), consensus $2.26... Raytheon Technologies (RTX), consensus 50c... Caterpillar (CAT), consensus $1.12... Sherwin-Williams (SHW), consensus $7.75... Centene (CNC), consensus 96c... Cummins (CMI), consensus $2.35... Stanley Black & Decker (SWK), consensus $2.68... Corning (GLW), consensus 36c... Restaurant Brands (QSR), consensus 56c... TransUnion (TRU), consensus 75c... Omnicom Group (OMC), consensus $1.06... Sensata Technologies (ST), consensus 54c... Invesco (IVZ), consensus 47c... Harley-Davidson (HOG), consensus 28c... JetBlue (JBLU), consensus ($2)... Crocs (CROX), consensus 69c.