FY2023 EPS Estimates for CNH Industrial (NYSE:CNHI) Lifted by Analyst

CNH Industrial (NYSE:CNHI – Get Rating) – Research analysts at Oppenheimer increased their FY2023 earnings per share (EPS) estimates for CNH Industrial in a research report issued on Tuesday, January 24th. Oppenheimer analyst K. Owen now expects that the company will post earnings per share of $1.59 for the year, up from their prior forecast of $1.54. Oppenheimer has a “Outperform” rating and a $20.00 price objective on the stock. The consensus estimate for CNH Industrial’s current full-year earnings is $1.47 per share.

CNH Industrial (NYSE:CNHI – Get Rating) last issued its earnings results on Tuesday, November 8th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. CNH Industrial had a net margin of 6.77% and a return on equity of 29.47%. The business had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.33 billion.

A number of other research firms also recently issued reports on CNHI. The Goldman Sachs Group downgraded shares of CNH Industrial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $14.42 to $12.14 in a research note on Sunday, October 23rd. Robert W. Baird started coverage on CNH Industrial in a research report on Tuesday, September 27th. They set an “outperform” rating and a $17.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of CNH Industrial from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 13th. William Blair reaffirmed a “market perform” rating on shares of CNH Industrial in a research report on Tuesday, November 8th. Finally, Morgan Stanley boosted their target price on CNH Industrial from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 14th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.10.

CNH Industrial Price Performance

Shares of CNHI stock opened at $17.20 on Wednesday. CNH Industrial has a twelve month low of $10.60 and a twelve month high of $17.51. The company has a current ratio of 6.70, a quick ratio of 5.35 and a debt-to-equity ratio of 3.29. The stock has a fifty day simple moving average of $16.27 and a two-hundred day simple moving average of $13.74. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 13.54 and a beta of 1.66.

Institutional Trading of CNH Industrial

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of CNH Industrial by 2.7% in the third quarter. Vanguard Group Inc. now owns 35,221,420 shares of the company’s stock worth $393,423,000 after buying an additional 918,910 shares during the last quarter. Bank of Italy grew its position in CNH Industrial by 15.0% during the second quarter. Bank of Italy now owns 22,289,890 shares of the company’s stock valued at $255,141,000 after buying an additional 2,915,502 shares during the period. Parnassus Investments LLC grew its position in CNH Industrial by 19.6% during the second quarter. Parnassus Investments LLC now owns 12,684,751 shares of the company’s stock valued at $147,016,000 after buying an additional 2,076,903 shares during the period. Artisan Partners Limited Partnership increased its position in shares of CNH Industrial by 7.6% in the second quarter. Artisan Partners Limited Partnership now owns 9,908,878 shares of the company’s stock valued at $114,844,000 after buying an additional 699,193 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of CNH Industrial by 379.1% in the first quarter. Wellington Management Group LLP now owns 9,451,209 shares of the company’s stock valued at $151,374,000 after buying an additional 7,478,640 shares in the last quarter. Hedge funds and other institutional investors own 38.37% of the company’s stock.

About CNH Industrial

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CNH Industrial NV designs, produces and sells agricultural equipment and commercial vehicles. It operates through the following business segments: Heavy construction equipment and Light construction equipment. The Heavy construction equipment segment includes general construction equipment such as large wheel loaders and excavators, and road building and site preparation equipment such as graders, compactors and dozers.