CNH Industrial (NYSE:CNHI) Updates 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.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial started coverage on shares of CNH Industrial in a research report on Thursday, March 14th. They set a buy rating and a $18.00 price target on the stock. The Goldman Sachs Group raised shares of CNH Industrial from a neutral rating to a buy rating and set a $19.00 target price on the stock in a research report on Wednesday, January 17th. Oppenheimer reissued a market perform rating on shares of CNH Industrial in a research report on Tuesday, April 16th. Bank of America reissued a neutral rating on shares of CNH Industrial in a research report on Monday, April 22nd. Finally, Evercore ISI boosted their target price on shares of CNH Industrial from $11.50 to $13.00 and gave the stock an in-line rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, CNH Industrial currently has an average rating of Hold and a consensus target price of $15.27.

CNH Industrial Price Performance

Shares of NYSE:CNHI traded down $0.20 during trading hours on Friday, hitting $11.48. 9,092,978 shares of the company’s stock traded hands, compared to its average volume of 11,575,719. CNH Industrial has a 52 week low of $9.77 and a 52 week 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 company’s fifty day simple moving average is $12.26 and its two-hundred day simple moving average is $11.72. The company has a market cap of $14.42 billion, a price-to-earnings ratio of 6.71 and a beta of 1.66.

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

CNH Industrial Increases Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 13th will be given a $0.47 dividend. This represents a dividend yield of 3.71%. This is a positive change from CNH Industrial’s previous annual dividend of $0.39. 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.