FY2024 EPS Estimates for CNH Industrial (NYSE:CNHI) Lowered by Analyst

CNH Industrial (NYSE:CNHI) – Equities researchers at DA Davidson reduced their FY2024 EPS estimates for CNH Industrial in a research note issued on Tuesday, May 7th. DA Davidson analyst M. Shlisky now anticipates that the company will earn $1.53 per share for the year, down from their previous forecast of $1.60. DA Davidson currently has a “Neutral” rating and a $13.00 target price on the stock. The consensus estimate for CNH Industrial’s current full-year earnings is $1.53 per share.

CNH Industrial (NYSE:CNHI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.46 billion. CNH Industrial had a net margin of 9.48% and a return on equity of 28.40%. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS.

Several other equities research analysts have also issued reports on CNHI. Robert W. Baird lifted their price objective on CNH Industrial from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Oppenheimer reaffirmed a “market perform” rating on shares of CNH Industrial in a research note on Tuesday, April 16th. 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 report on Wednesday, January 17th. Evercore ISI raised their price objective on shares of CNH Industrial from $11.50 to $13.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, StockNews.com lowered shares of CNH Industrial from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. One equities 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. According to MarketBeat.com, CNH Industrial has an average rating of “Hold” and a consensus price target of $15.20.

CNH Industrial Price Performance

Shares of NYSE:CNHI opened at $11.65 on Thursday. The company has a 50 day moving average of $12.24 and a 200 day moving average of $11.72. The stock has a market cap of $14.64 billion, a P/E ratio of 6.81 and a beta of 1.66. The company has a current ratio of 9.32, a quick ratio of 7.86 and a debt-to-equity ratio of 3.34. CNH Industrial has a 12 month low of $9.77 and a 12 month high of $15.74.

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 paid a $0.47 dividend. 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.

Institutional Investors Weigh In On CNH Industrial

A number of institutional investors have recently made changes to their positions in CNHI. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of CNH Industrial by 613.3% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 81,932 shares of the company’s stock worth $1,062,000 after acquiring an additional 70,446 shares during the period. Locust Wood Capital Advisers LLC purchased a new stake in shares of CNH Industrial during the 1st quarter valued at about $1,121,000. Avantax Advisory Services Inc. lifted its stake in shares of CNH Industrial by 10.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 13,409 shares of the company’s stock worth $174,000 after purchasing an additional 1,310 shares during the period. Hohimer Wealth Management LLC grew its position in CNH Industrial by 53.8% during the first quarter. Hohimer Wealth Management LLC now owns 262,270 shares of the company’s stock valued at $3,399,000 after buying an additional 91,738 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in CNH Industrial by 39.0% during the first quarter. Russell Investments Group Ltd. now owns 1,655,563 shares of the company’s stock valued at $21,455,000 after buying an additional 464,491 shares during the last quarter. Hedge funds and other institutional investors own 59.88% of the company’s stock.

CNH Industrial Company Profile

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.