CNH Industrial (NYSE:CNHI) Issues FY24 Earnings Guidance

CNH Industrial (NYSE:CNHI) updated its FY24 earnings guidance on Thursday. 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 Stock Down 1.7 %

CNHI traded down $0.20 during 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 company has a market capitalization of $14.42 billion, a PE ratio of 6.71 and a beta of 1.66. CNH Industrial has a twelve month low of $9.77 and a twelve month high of $15.74. The company has a debt-to-equity ratio of 3.34, a quick ratio of 7.86 and a current ratio of 9.32. The stock has a 50 day simple moving average of $12.26 and a two-hundred day simple moving average of $11.72.

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

CNH Industrial Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Robert W. Baird increased their price objective on shares of CNH Industrial from $15.00 to $16.00 and gave the company an outperform rating in a research note on Thursday, February 15th. DA Davidson initiated coverage on shares of CNH Industrial in a research note on Tuesday, January 23rd. They issued a neutral rating and a $13.00 price objective on the stock. Evercore ISI raised their price target on shares of CNH Industrial from $11.50 to $13.00 and gave the stock an in-line rating in a research note on Tuesday, February 20th. Morgan Stanley began coverage on shares of CNH Industrial in a research note on Monday, January 8th. They set an equal weight rating and a $12.70 price target on the stock. Finally, Truist Financial began coverage on shares of CNH Industrial in a research report on Thursday, March 14th. They issued a buy rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price 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.