CNH Industrial (NYSE:CNHI) Issues 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.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on CNH Industrial from $14.50 to $14.00 and set a neutral rating on the stock in a report on Friday. DA Davidson began coverage on CNH Industrial in a research note on Tuesday, January 23rd. They issued a neutral rating and a $13.00 target price on the stock. Robert W. Baird raised their price target on shares of CNH Industrial from $15.00 to $16.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. Oppenheimer reissued a market perform rating on shares of CNH Industrial in a research report on Tuesday, April 16th. Finally, Bank of America reaffirmed a neutral rating on shares of CNH Industrial in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $15.27.

CNH Industrial Price Performance

CNHI traded down $0.20 on Friday, hitting $11.48. 9,092,978 shares of the stock were exchanged, compared to its average volume of 11,575,719. 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 12 month low of $9.77 and a 12 month high of $15.74. The firm has a market capitalization of $14.42 billion, a price-to-earnings ratio of 6.71 and a beta of 1.66. The business has a 50-day moving average of $12.26 and a two-hundred day moving average of $11.72.

CNH Industrial (NYSE:CNHI) last issued its earnings results on Thursday, May 2nd. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. CNH Industrial had a return on equity of 28.40% and a net margin of 9.48%. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the business posted $0.35 EPS. The company’s revenue was down 9.8% compared to the same quarter last year. Sell-side 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. Stockholders of record on Monday, May 13th will be issued a dividend of $0.47 per share. This is a boost from CNH Industrial’s previous annual dividend of $0.39. This represents a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, May 10th.

About CNH Industrial

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.