Cummins industry-leading R&D and strong brand reputation power its economic moat.
Following narrow-moat Cummins' third-quarter results, we are adjusting our fair value estimate to $142 from $135 to incorporate the time value of money since our prior update. Third-quarter EPS rose 34% from 2016’s third quarter to $2.71, surprising consensus by $0.25. Given such strong results, management again raised their 2017 revenue guidance from 9%-10% growth to 14%-15%, while maintaining their EBIT margin forecast of 11.8%-12.2%.Cummins increased revenue 26% year over year to $5.3 billio...
Cummins is a diesel engine manufacturer. The company's segments include: Engine, which manufactures and markets a range of diesel and natural gas powered engines; Distribution, which is the company's primary sales, service, and support channel; Components, which supplies aftertreatment systems, turbochargers, transmissions, filtration products, electronics and fuel systems for commercial diesel and natural gas applications; Power Systems, which includes power generation, industrial, and generator technologies product lines; and New Power, which designs, manufactures, sells and supports electrified power systems ranging from fully electric to hybrid, along with components and subsystems.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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