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Cummins IncNYSE: CMI

Industrials · Construction Machinery & Heavy Transportation Equipment

$679.35

+6.35%

Vol: 127K

Research Digest

Monday, June 15, 2026

Neutral

No significant overnight updates

No material news in the last 48 hours.

Price 50d 200d

Previous Market Intelligence

13 days
Jun 14No significant overnight updatesNeutral

No material news in the last 48 hours.

May 21Cummins raised to $845 PT at Evercore as Q1 power systems strength drives upward guidance revisionPositive

Evercore ISI raised its Cummins price target to $845 from $694 with an Outperform rating, while Truist raised its target to $815 from $730 with a Buy rating. The upgrades follow Cummins' Q1 results showing $8.4B revenue (up 3% YoY) and Power Systems revenue surging to $1.96B with EBITDA margin expanding to 29.5% from 23.6%, driven by data center demand. Cummins raised full-year 2026 revenue guidance to grow 8%-11% and increased its dividend to $2.00 from $1.82 (16th consecutive annual increase) with an ex-date of May 22. On May 14, VP Donald Jackson sold 730 shares valued at $518,972. At the May 12 annual meeting, shareholders elected eleven directors and supported the executive pay program.

May 20Cummins shareholders backed the board and pay plan at the May 12 annual meeting; the company declared a $2.00 quarterly dividend and a VP insider sale of 730 shares hit May 11.Positive

Cummins held its annual meeting May 12 where shareholders re-elected all eleven directors and backed the executive pay program; proposals to split chair/CEO roles and expand charitable giving disclosure were rejected. The board declared a $2.00 quarterly dividend payable June 4 to holders of record May 22. VP Treasury & Tax Donald Jackson sold 730 shares on May 11 for ~$519K. Earlier in May, the company posted strong Q1 results ($8.4B revenue) and raised full-year revenue guidance to up 8-11% (from 3-8%) on record Power Systems performance, with data center backup power demand and North America truck markets improving. Evercore ISI raised its price target to $845 from $694, while JPMorgan, Barclays, Morgan Stanley, Citi and Truist also revised. Shares trade around $716.

May 19Evercore ISI raised Cummins' price target to $845 from $694 (Outperform) and Truist lifted theirs to $815 from $730 (Buy) after CMI raised full-year 2026 revenue guidance to up 8-11% on record Power Systems demand.Positive

Evercore ISI hiked its Cummins price target to $845 from $694 with an Outperform rating, and Truist raised its target to $815 from $730 with a Buy, following Q1 2026 results on May 5 where revenue rose 3% to $8.4B and management raised full-year 2026 revenue guidance to up 8-11% from prior expectations. Growth was led by record performance in the Power Systems segment, where demand for data-center backup power surged, partially offset by cyclical weakness in North America truck. Cummins' board also declared a $2.00 quarterly dividend payable June 4 to holders of record May 22, and shareholders approved the full board slate and executive pay at the May 12 annual meeting. Why it matters: data-center backup-power demand has become a powerful new earnings driver for Cummins, the dual price-target hikes signal Street conviction in the upgrade cycle and the stock at ~$716 is near its 52-week high of $718. The bear case: Cummins took charges on the wind-down of its low-pressure fuel-cell business, North America truck remains weak, and an aggressive guidance bump leaves limited room for further upside surprise.

May 18Cummins declares $2.00 quarterly dividend (10% hike) on May 13 and VP Bush sells 5,000 shares on May 12 at $694-$699; raised FY2026 revenue outlook continues to drive analyst PT hikes.Mixed

Cummins announced a $2.00 quarterly dividend on May 13, 2026 (up from $1.82, marking the 16th consecutive year of increases), payable June 4 to shareholders of record May 22. VP Jennifer Mary Bush sold 5,000 shares on May 12 at $694.13-$699.10 in open-market transactions. Multiple analysts (JPMorgan, Barclays, Morgan Stanley, Citi, Truist, Wells Fargo, UBS, BofA, Bernstein, Argus) raised PTs around May 6 following Q1 results: revenue of $8.4B beat estimates and FY2026 revenue guidance was raised to +8%-11% growth, but EPS of $4.71 missed the $5.61 consensus by 16%. Power Systems is benefiting from data center demand while North American truck markets remain weak. A $199M Q1 charge related to divesting the low-pressure fuel cell business signals a strategic pivot. Bear case: heavy truck market weakness persists, EPS missed materially despite revenue beat, and insider selling at near-record share prices may concern some investors.

May 15Cummins shareholders backed leadership at the May 12 annual meeting and the board declared a $2.00 quarterly dividend on May 13.Positive

Cummins shareholders elected eleven directors at the May 12, 2026 annual meeting and strongly supported the executive compensation plan, while rejecting proposals to split the Chair/CEO roles and expand charitable giving disclosures. On May 13, the board declared a $2.00 quarterly dividend payable June 4. Recent multi-analyst revisions (JPMorgan, Barclays, Morgan Stanley, Citi, Truist on May 6) raised the fair-value estimate to ~$643. Wells Fargo added Cummins to its Q2 Tactical Ideas List. Q1 2026 revenue beat at $8.4B (+3% YoY), driven by Power Systems surge (EBITDA margin 29.5%) from data center demand, though GAAP EPS of $4.71 missed by 15%. FY26 revenue guidance raised to 8-11% growth.

May 14Cummins declared $2.00 quarterly dividend on May 12 after Q1 beat fueled by Power Systems data center demandPositive

On May 12, 2026, Cummins declared a $2.00 quarterly dividend payable June 4 to holders of record May 22. The dividend follows a strong May 5 Q1 2026 report: revenue of $8.4B (+3% YoY, slightly above $8.34B consensus), and management raised 2026 revenue guidance to +8% to +11%. Power Systems revenue surged to $1.96B with EBITDA margin expanding to 29.5% from 23.6% on robust data center power generation demand, favorable pricing, and tariff recoveries. The company returned $519M to shareholders in Q1 and recorded charges on the sale of its low-pressure fuel cell business. Insider selling activity: CHRO Marvin Boakye sold 3,481 shares on May 8; VP Nathan Stoner sold 607 shares May 11. Bear case: Q1 GAAP EPS of $4.71 missed $5.61 consensus and was down from $5.96 YoY; truck weakness offsetting Power Systems strength signals cyclical risk if data center capex normalizes.

May 13Cummins raises 2026 revenue guidance to +8-11% on power generation strength; multiple firms hike price targets including Evercore to $845.Positive

Cummins raised its full-year 2026 revenue guidance to +8% to +11% (from prior range) after Q1 revenue of $8.4B (+3% YoY) was driven by surging power generation demand (notably data centers) that more than offset a 20% drop in North America truck unit volumes; international revenue rose 16% on China strength. The Board declared a $2.00 quarterly dividend payable June 4. On May 6, Evercore ISI raised its target to $845 from $694 and Truist to $815 from $730, with JPMorgan, Barclays, Morgan Stanley and Citi also revising higher. CMI is up ~116% over the past year. The company also recorded charges on the sale of its low-pressure fuel cell business as it refocuses Accelera.

May 12Cummins raises 2026 revenue guidance to 8-11% growth on Power Systems data center surge; insiders sell shares May 8 and May 11.Positive

Cummins raised its full-year 2026 revenue guidance to 8-11% growth (from prior outlook) and EBITDA to 17.75-18.50% on stronger demand across multiple markets, particularly North America on-highway and power generation. Q1 2026 revenue rose 3% YoY to $8.4B and beat consensus, with GAAP EPS of $4.71. Power Systems revenue surged to $1.96B with EBITDA margin expanding to 29.5% from 23.6%, driven by data center power generation demand outpacing expectations along with favorable pricing and tariff recoveries. The quarter included a $199M ($1.44/share) charge from the sale of the low-pressure fuel cell business. Cummins returned $519M to shareholders. Stock traded up 4.5% to $686.50 immediately post-results. Insider selling continued: HR chief sold 3,481 shares across multiple May 8 trades, and VP-China ABO Nathan Stoner sold 607 shares on May 11. Cummins was named to Ethisphere's 2026 World's Most Ethical Companies. Risk: North America truck weakness (sales -6%) offsets some of the power-gen strength.

May 11Cummins beat Q1 with EPS of $6.15 vs $5.64 estimate and raised 2026 revenue guidance to +8-11%, prompting Barclays to lift its target to $760 from $610 on May 6.Positive

On May 5, 2026, Cummins reported Q1 revenue of $8.4B (+3% YoY) and GAAP EPS of $4.71 (adjusted $6.15 vs $5.64 consensus), with record performance in Power Systems driven by data center generator demand offsetting a 20% decline in North America truck volumes. The company raised FY26 revenue guidance to up 8-11% (from prior outlook) and EBITDA margin to 17.75-18.50%. Cummins returned $519M to shareholders ($243M buybacks + $276M dividends) and completed sale of its Low-pressure Fuel Cell business to Alstom. On May 6, JPMorgan, Barclays, Morgan Stanley, Citi and Truist all revised targets higher; Barclays raised to $760 from $610 keeping Overweight. Risks remain on the North American truck cycle and Accelera (zero-emission) losses.

May 8Cummins raises 2026 revenue guidance to 8-11% growth on robust Power Systems segment driven by data center AI demandPositive

Cummins reported Q1 revenue of $8.4B (up 2.7% YoY) with adjusted EPS of $6.15 beating estimates. Full-year guidance raised: revenue up 8-11%, EBITDA margin 17.75-18.50% from prior 17.0-18.0%. Power Systems delivered record performance on AI data-center demand, with energy segment revenue boosted by generators for AI infrastructure. North America truck volumes declined 20% but offset by power generation surge. Company completed sale of low-pressure fuel cell business to Alstom. Whitestown IN facility closing (59 employees). Stock traded up 4.5% to $686.50 post-earnings. Free cash flow and shareholder returns remained strong.

May 6Cummins raises 2026 outlook to 8-11% revenue growth; Q1 EPS $4.71 beat estimates by $0.52 on 23% surge in North American power generation demand.Positive

Cummins delivered strong Q1 2026 with revenue of $8.398 billion (+3% YoY, beat $8.352B estimate) and net income of $654 million ($4.71 per diluted share). Company raised full-year revenue guidance to 8-11% and adjusted EPS guidance to $6.15, outperforming estimates by 9.8%. North American power generation demand surged 23% driven by data center expansion. Company took $199 million charge ($1.44/share) from sale of low-pressure fuel cell business. Named to Ethisphere's 2026 World's Most Ethical Companies list. Stock trading at $656.73 with Buy rating from 13 of 14 analysts.

May 5Cummins raises full-year guidance on strong data center demandPositive

Cummins reported Q1 2026 revenue of $8.4 billion, up 3% year-over-year, with net income of $654 million ($4.71 per diluted share) despite charges from low-pressure fuel cell business sale. The company raised full-year 2026 guidance forecasting 8-11% revenue growth and EBITDA in the 17.75-18.50% range, driven by record Power Systems performance and improving North America truck markets.

Sector Peers

CompanyPriceDay1MFwd P/EBetaMkt Cap
CATCATERPILLAR$933.44+7.79%+0.2%29.1x1.63$398.8B
CMICUMMINS$679.35+6.35%-5.8%19.2x1.27$88.1B
PCARPACCAR$121.03+10.69%-2.1%16.1x1.03$57.5B
WABWABTEC$271.33+6.34%-1.9%21.0x0.97$43.3B
GEGENERAL$346.55+14.84%+5.5%34.8x1.35$315.3B
GEVGE$960.63-7.97%+3.1%42.6x1.31$280.5B

Key Fundamentals

Market Cap$88.1B
P/E (TTM)33.2
Forward P/E19.2
Beta1.27
Div Yield119.00%
Prev Close$638.78

RSI (14-Day)

46Neutral
0305070100

52-Week Range

$307.90$679.35$718.08
From High-5.4%
From Low+120.6%

Moving Averages

50d SMA
$605.54+12.2%
200d SMA
$509.08+33.4%

Price above both MAs — bullish structure.

Historical Returns

1W
-5.2%
1M
+11.6%
3M
+13.4%
6M
+42.8%
1Y
+107.9%
YTD
+30.6%

Volume

Today127K
20d Avg819K
Ratio0.15x