Published On: Fri, Sep 9th, 2016

CNH Industrial NV (CNHI) Bonds Drop 1.1% During Trading

An issue of CNH Industrial NV (NASDAQ:CNHI) bonds fell 1.1% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 4.875% coupon and is set to mature on April 1, 2021. The debt is now trading at $106.92 and was trading at $106.75 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.
CNHI has been the subject of a number of analyst reports. Zacks Investment Research raised CNH Industrial NV from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Wednesday, June 29th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of CNH Industrial NV in a research report on Friday, June 3rd. Citigroup Inc. reduced their price objective on CNH Industrial NV from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Friday, July 15th. Deutsche Bank AG initiated coverage on CNH Industrial NV in a research report on Tuesday. They set a “sell” rating and a $6.38 price objective for the company. Finally, Bank of America Corp. lowered CNH Industrial NV from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $9.00 to $6.00 in a research report on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $6.58.

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Shares of CNH Industrial NV (NASDAQ:CNHI) opened at 7.41 on Friday. The firm has a 50 day moving average price of $7.27 and a 200-day moving average price of $7.04. The company’s market cap is $10.09 billion. CNH Industrial NV has a 12-month low of $5.67 and a 12-month high of $7.91.
CNH Industrial NV (NASDAQ:CNHI) last announced its earnings results on Tuesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.65 billion. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. On average, equities analysts expect that CNH Industrial NV will post $0.34 earnings per share for the current fiscal year.

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