CNH GLOBAL N V Foreign (NYSE:CNH) Stock Price Up 8.1% After Earnings Beat

CNH GLOBAL N V Foreign (NYSE:CNH) shares shot up 8.1% on Thursday following a better than expected earnings announcement. The company traded as high as $12.58 and last traded at $12.51. 11,358,216 shares were traded during mid-day trading, a decline of 11% from the average session volume of 12,833,730 shares. The stock had previously closed at $11.57.

The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. CNH GLOBAL N V Foreign had a return on equity of 18.00% and a net margin of 6.62%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $4.47 billion. The firm’s quarterly revenue was down 20.5% on a year-over-year basis.

CNH GLOBAL N V Foreign Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, May 30th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a dividend yield of 3.8%. CNH GLOBAL N V Foreign’s dividend payout ratio (DPR) is presently 45.63%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CNH shares. Truist Financial reduced their price target on shares of CNH GLOBAL N V Foreign from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Robert W. Baird reissued a “neutral” rating and set a $15.00 target price (down from $16.00) on shares of CNH GLOBAL N V Foreign in a research report on Monday, March 3rd. Baird R W cut CNH GLOBAL N V Foreign from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Northland Securities raised CNH GLOBAL N V Foreign from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Friday, April 11th. Finally, Northland Capmk upgraded CNH GLOBAL N V Foreign from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.33.

Insider Activity

In other news, Director Suzanne Heywood sold 24,213 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.64, for a total transaction of $281,839.32. Following the sale, the director now directly owns 551,858 shares of the company’s stock, valued at $6,423,627.12. This represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gerrit A. Marx sold 320,472 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.64, for a total transaction of $3,730,294.08. Following the completion of the transaction, the chief executive officer now owns 375,136 shares of the company’s stock, valued at $4,366,583.04. This trade represents a 46.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 392,620 shares of company stock worth $4,570,097. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On CNH GLOBAL N V Foreign

Several large investors have recently made changes to their positions in CNH. Franklin Resources Inc. lifted its position in CNH GLOBAL N V Foreign by 1.2% during the 4th quarter. Franklin Resources Inc. now owns 57,866,498 shares of the company’s stock valued at $655,624,000 after purchasing an additional 664,191 shares during the period. Artisan Partners Limited Partnership acquired a new position in CNH GLOBAL N V Foreign in the fourth quarter valued at approximately $361,990,000. Vanguard Group Inc. bought a new position in CNH GLOBAL N V Foreign in the fourth quarter valued at approximately $359,303,000. Charles Schwab Investment Management Inc. acquired a new stake in CNH GLOBAL N V Foreign during the 4th quarter worth $233,474,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of CNH GLOBAL N V Foreign during the 4th quarter valued at $162,095,000. Institutional investors and hedge funds own 59.88% of the company’s stock.

CNH GLOBAL N V Foreign Stock Performance

The company has a current ratio of 13.21, a quick ratio of 10.83 and a debt-to-equity ratio of 3.54. The company has a market cap of $15.46 billion, a price-to-earnings ratio of 12.03 and a beta of 1.43. The stock has a 50 day moving average price of $12.05 and a two-hundred day moving average price of $11.90.

CNH GLOBAL N V Foreign Company Profile

CNH Industrial NV is an equipment and services company, which develops, manufactures and sells specialized machines and services for the farming and construction industries, and supplies replacement parts and accessories. It operates through the following operating segments: Agriculture, Construction, and Financial Services.