CNH Industrial (NYSE:CNHI) Updates FY24 Earnings Guidance

CNH Industrial (NYSE:CNHI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.45-$1.55 for the period, compared to the consensus earnings per share estimate of $1.55.

CNH Industrial Trading Down 1.7 %

Shares of CNHI traded down $0.20 during midday trading on Friday, hitting $11.48. The stock had a trading volume of 9,092,978 shares, compared to its average volume of 11,575,719. The stock’s 50 day moving average is $12.26 and its 200 day moving average is $11.72. The firm has a market cap of $14.42 billion, a PE ratio of 6.71 and a beta of 1.66. The company has a debt-to-equity ratio of 3.34, a current ratio of 9.32 and a quick ratio of 7.86. CNH Industrial has a 1 year low of $9.77 and a 1 year high of $15.74.

CNH Industrial (NYSE:CNHI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.46 billion. CNH Industrial had a return on equity of 28.40% and a net margin of 9.48%. CNH Industrial’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. As a group, analysts forecast that CNH Industrial will post 1.53 EPS for the current fiscal year.

CNH Industrial Increases Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 13th will be issued a $0.47 dividend. This is a positive change from CNH Industrial’s previous annual dividend of $0.39. The ex-dividend date is Friday, May 10th. This represents a dividend yield of 3.71%.

Analyst Upgrades and Downgrades

CNHI has been the subject of several research reports. DA Davidson assumed coverage on shares of CNH Industrial in a research report on Tuesday, January 23rd. They issued a neutral rating and a $13.00 price target for the company. JPMorgan Chase & Co. reduced their price target on CNH Industrial from $14.50 to $14.00 and set a neutral rating for the company in a research report on Friday. Evercore ISI raised their price objective on CNH Industrial from $11.50 to $13.00 and gave the company an in-line rating in a research report on Tuesday, February 20th. StockNews.com lowered shares of CNH Industrial from a hold rating to a sell rating in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group raised shares of CNH Industrial from a neutral rating to a buy rating and set a $19.00 price objective on the stock in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, CNH Industrial has an average rating of Hold and a consensus price target of $15.27.

CNH Industrial Company Profile

CNH Industrial N.V., an equipment and services company, engages in the design, production, marketing, sale, and financing of agricultural and construction equipment in North America, Europe, the Middle East, Africa, South America, and the Asia Pacific. The company operates through three segments: Agriculture, Construction, and Financial Services.