CNH Industrial (NYSE:CNHI) Releases FY24 Earnings Guidance

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

CNH Industrial Price Performance

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

CNH Industrial (NYSE:CNHI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. CNH Industrial had a net margin of 9.48% and a return on equity of 28.40%. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the company earned $0.35 EPS. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts predict that CNH Industrial will post 1.53 EPS for the current fiscal year.

CNH Industrial Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on CNHI. Morgan Stanley began coverage on CNH Industrial in a research report on Monday, January 8th. They issued an equal weight rating and a $12.70 price target for the company. DA Davidson initiated coverage on shares of CNH Industrial in a report on Tuesday, January 23rd. They set a neutral rating and a $13.00 price target on the stock. Truist Financial assumed coverage on shares of CNH Industrial in a research note on Thursday, March 14th. They issued a buy rating and a $18.00 price objective for the company. Evercore ISI upped their target price on CNH Industrial from $11.50 to $13.00 and gave the company an in-line rating in a research note on Tuesday, February 20th. Finally, Robert W. Baird raised their price target on CNH Industrial from $15.00 to $16.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. One 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 stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $15.27.

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.