CNH Industrial (NYSE:CNHI) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

CNH Industrial (NYSE:CNHI) posted its quarterly earnings results on Thursday. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07, Briefing.com reports. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.46 billion. CNH Industrial had a return on equity of 28.40% and a net margin of 9.48%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 earnings per share. CNH Industrial updated its FY24 guidance to $1.45-$1.55 EPS.

CNH Industrial Stock Performance

NYSE:CNHI traded down $0.20 on Friday, hitting $11.48. The company’s stock had a trading volume of 9,092,978 shares, compared to its average volume of 11,575,719. 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 one year low of $9.77 and a one year high of $15.74. The stock has a fifty day moving average of $12.26 and a two-hundred day moving average of $11.72. The firm has a market capitalization of $14.42 billion, a P/E ratio of 6.71 and a beta of 1.66.

CNH Industrial Increases Dividend

The firm also recently declared 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. This represents a yield of 3.71%. The ex-dividend date is Friday, May 10th. This is an increase from CNH Industrial’s previous annual dividend of $0.39.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of CNH Industrial from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Morgan Stanley started coverage on shares of CNH Industrial in a research report on Monday, January 8th. They set an “equal weight” rating and a $12.70 target price for the company. Truist Financial started coverage on CNH Industrial in a research note on Thursday, March 14th. They set a “buy” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on CNH Industrial from $14.50 to $14.00 and set a “neutral” rating for the company in a report on Friday. Finally, DA Davidson assumed coverage on CNH Industrial in a report on Tuesday, January 23rd. They set a “neutral” rating and a $13.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus 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.