CNH Industrial (NYSE:CNHI) Releases FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Robert W. Baird lifted 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. Morgan Stanley assumed coverage on shares of CNH Industrial in a research note on Monday, January 8th. They set an equal weight rating and a $12.70 target price for the company. Truist Financial assumed coverage on shares of CNH Industrial in a research note on Thursday, March 14th. They set a buy rating and a $18.00 target price for the company. The Goldman Sachs Group upgraded shares of CNH Industrial from a neutral rating to a buy rating and set a $19.00 target price for the company in a research note on Wednesday, January 17th. Finally, Evercore ISI boosted their price target on shares of CNH Industrial from $11.50 to $13.00 and gave the company an in-line rating in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $15.20.

CNH Industrial Stock Performance

Shares of CNH Industrial stock traded down $0.03 during midday trading on Thursday, hitting $11.30. The company had a trading volume of 3,045,505 shares, compared to its average volume of 11,944,692. The business’s 50 day simple moving average is $12.28 and its two-hundred day simple moving average is $11.72. The stock has a market cap of $14.20 billion, a PE ratio of 6.47 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 data on Wednesday, February 14th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.50 billion. CNH Industrial had a return on equity of 29.59% and a net margin of 9.60%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share. As a group, equities analysts predict that CNH Industrial will post 1.56 EPS for the current fiscal year.

CNH Industrial Increases Dividend

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

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.