DA Davidson Research Analysts Lower Earnings Estimates for CNH Industrial (NYSE:CNHI)

CNH Industrial (NYSE:CNHI) – Investment analysts at DA Davidson dropped their FY2024 earnings estimates for CNH Industrial in a report released on Tuesday, May 7th. DA Davidson analyst M. Shlisky now forecasts that the company will post earnings of $1.53 per share for the year, down from their prior 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 released its earnings results on Thursday, May 2nd. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. CNH Industrial had a net margin of 9.48% and a return on equity of 28.40%. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the company earned $0.35 EPS. CNH Industrial’s revenue for the quarter was down 9.8% on a year-over-year basis.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. decreased their price target on CNH Industrial from $14.50 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Oppenheimer reissued a “market perform” rating on shares of CNH Industrial in a report on Tuesday, April 16th. Truist Financial reduced their price objective on shares of CNH Industrial from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday. The Goldman Sachs Group raised shares of CNH Industrial from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, January 17th. Finally, Robert W. Baird boosted their target price on CNH Industrial from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.20.

CNH Industrial Price Performance

Shares of NYSE:CNHI opened at $11.65 on Thursday. The company has a market cap of $14.64 billion, a P/E ratio of 6.81 and a beta of 1.66. The business has a fifty day simple moving average of $12.24 and a 200-day simple moving average of $11.72. CNH Industrial has a 52 week low of $9.77 and a 52 week high of $15.74. The company has a quick ratio of 7.86, a current ratio of 9.32 and a debt-to-equity ratio of 3.34.

Hedge Funds Weigh In On CNH Industrial

Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC grew its position in CNH Industrial by 9.4% in the fourth quarter. Private Advisor Group LLC now owns 12,709 shares of the company’s stock worth $155,000 after acquiring an additional 1,090 shares in the last quarter. CWM LLC boosted its holdings in CNH Industrial by 20.9% in the fourth quarter. CWM LLC now owns 6,508 shares of the company’s stock worth $79,000 after purchasing an additional 1,125 shares in the last quarter. Public Sector Pension Investment Board increased its position in CNH Industrial by 0.3% during the third quarter. Public Sector Pension Investment Board now owns 364,900 shares of the company’s stock worth $4,458,000 after buying an additional 1,223 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in CNH Industrial by 1.9% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 71,300 shares of the company’s stock valued at $868,000 after buying an additional 1,300 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in shares of CNH Industrial by 10.8% in the first quarter. Avantax Advisory Services Inc. now owns 13,409 shares of the company’s stock worth $174,000 after buying an additional 1,310 shares during the last quarter. 59.88% of the stock is owned by institutional investors and hedge funds.

CNH Industrial Increases Dividend

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

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.