CNH Industrial (NYSE:CNHI) Issues FY24 Earnings Guidance

CNH Industrial (NYSE:CNHI - Get Free Report) 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.

CNH Industrial Stock Performance

CNHI traded up $0.36 during trading on Thursday, reaching $11.69. The company's stock had a trading volume of 17,952,619 shares, compared to its average volume of 12,128,155. CNH Industrial has a 52-week low of $9.77 and a 52-week high of $15.74. The company's fifty day moving average price is $12.27 and its 200-day moving average price is $11.72. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 6.68 and a beta of 1.66. The company has a debt-to-equity ratio of 3.34, a quick ratio of 7.86 and a current ratio of 9.32.

CNH Industrial (NYSE:CNHI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.50 billion. CNH Industrial had a return on equity of 29.59% and a net margin of 9.60%. CNH Industrial's revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. On average, equities analysts forecast that CNH Industrial will post 1.56 earnings per share for the current fiscal year.

CNH Industrial Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 13th will be issued a dividend of $0.47 per share. This represents a yield of 3.71%. 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CNHI shares. 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. Robert W. Baird raised their target price 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. Evercore ISI raised their target price on shares of CNH Industrial from $11.50 to $13.00 and gave the company an in-line rating in a research note on Tuesday, February 20th. StockNews.com lowered shares of CNH Industrial from a hold rating to a sell rating in a research report on Thursday, April 11th. Finally, DA Davidson began coverage on shares of CNH Industrial in a research 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 issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $15.20.

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.