Cnh Industrial

CNH Industrial is a holding company. Through its subsidiaries, Co. is engaged in the design, production, marketing, sale and financing of agricultural and construction equipment, trucks, commercial vehicles, buses and specialty vehicles for firefighting, defense and other uses, as well as engines, transmissions and axles for those vehicles and engines for marine and power generation applications. Co. divides its business activities into three operating segments: Agricultural Equipment, Construction Equipment, Commercial Vehicles, Powertrain, and Financial Services.
  • TickerCNHI
  • ISINNL0010545661
  • SectorIndustrial Engineering
  • CountryNetherlands

Analysts

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/07/2019

While, since the creation of the banking union, Germany has steadfastly opposed the idea of setting up a common scheme to guarantee savers’ deposits, the article published in the Financial Times on Wednesday 6 November by the German finance minister has come as a bombshell. There is still a long way to go, but this statement responds to a real need for capital market unification and investors want to believe in this scenario. At the sector level, our analysts believe that it will rela...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/11/2019

Alors que l’Allemagne s’est opposée depuis la création de l’Union Bancaire à la création d’un fonds de garantie des dépôts au niveau européen, l’article publié dans le FT du ministre allemand des finances a fait l’effet d’une « bombe ». Il y a loin encore de la coupe aux lèvres, mais cette déclaration répond à un vrai besoin d’unification des marchés de capitaux et les investisseurs veulent y croire. Sur le plan sectoriel, nos analystes pensent qu’elle relancera les scénarios de conso...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - UniCredit - FR

UniCredit (Achat) : RN de €4,3mds sur les 9M-19 (versus €2,2mds un an avant), amélioration de la qualité d’actifs Generali (Achat) - 9M-19 : RN en hausse de +17% à €2,2mds ING (Achat): Emission d'un nouveau titre Tier 2  11NC6 AXA (Achat) - 9M-19 : CA de €79,7 mds (+5%) Coty (Achat) - T1-2019/20 : Résultat opérationnel de $155m (+10%) ArcelorMittal (Achat) - 9M-19 :  EBITDA de $4,3 mds (-48,6%) CNH Industrial (Achat) - 9M-19 :  EBIT de $1,5 md (-6,3%) Wirecard (Achat) - 9M-19 : EBITDA de €553m (+38,4%)

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - UniCredit - FR

UniCredit (Achat) : RN de €4,3mds sur les 9M-19 (versus €2,2mds un an avant), amélioration de la qualité d’actifs Generali (Achat) - 9M-19 : RN en hausse de +17% à €2,2mds ING (Achat): Emission d'un nouveau titre Tier 2  11NC6 AXA (Achat) - 9M-19 : CA de €79,7 mds (+5%) Coty (Achat) - T1-2019/20 : Résultat opérationnel de $155m (+10%) ArcelorMittal (Achat) - 9M-19 :  EBITDA de $4,3 mds (-48,6%) CNH Industrial (Achat) - 9M-19 :  EBIT de $1,5 md (-6,3%) Wirecard (Achat) - 9M-19 : EBITDA de €553m (+38,4%)

CNH Industrial N.V. - June 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

CNH Industrial N.V.: CNH Transformation plan, including spin-off of the “On-Highway” business is credit positive, but Baa3 rating unaffected

CNH rating unaffected by separation announcement

CNH Industrial N.V. - March 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

CNH Industrial N.V. - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Georges Dieng

CNH industrial : Some resilience but a mixed bag in Q3

>Pressure on industrial & product costs offset solid pricing - In a quarter marked by a further deterioration in business conditions across the board, CNHI achieved a mixed performance. Revenues from industrial activities fell short of expectations, down 5.7% to $ 5.9bn (-3% at constant forex), or 8% below consensus. Adj. industrial EBIT fell by 11.5% to $ 284m, with margin at 4.8% (consensus at 4.9%), down 30bp y-o-y and 270bp sequentially. Positive price realisation...

Georges Dieng

CNH industrial : Some resilience but a mixed bag in Q3

>Pressure on industrial & product costs offset solid pricing - In a quarter marked by a further deterioration in business conditions across the board, CNHI achieved a mixed performance. Revenues from industrial activities fell short of expectations, down 5.7% to $ 5.9bn (-3% at constant forex), or 8% below consensus. Adj. industrial EBIT fell by 11.5% to $ 284m, with margin at 4.8% (consensus at 4.9%), down 30bp y-o-y and 270bp sequentially. Positive price realisation...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/11/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Manuel Martin, CEFA,CREA
  • Matthias Desmarais
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/06/2019

...

François Maury ...
  • Georges Dieng

ODDO : Italian car market: still on an uptrend on an undemanding base

>An increase of 6.7% in October, i.e. -0.9% YTD - Passenger car registrations rose by 6.7% in October to 157k units, i.e. a decline of 0.9% YTD to 1,625k units. For October and over 10M 2019, the figures are based on a constant number of trading days.By carmaker, VW and Renault were up sharply (+34.2% and +19.1% respectively) whilst PSA, FCA and Nissan were down (-1.4%, -1.9% and -5.3% respectively).For 2019, we expect a decline of around 1.0%, amid int...

1 director sold

A director at CNH Industrial Nv sold 45,849 shares at 10.980USD and the significance rating of the trade was 86/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of bo...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/07/2019

While, since the creation of the banking union, Germany has steadfastly opposed the idea of setting up a common scheme to guarantee savers’ deposits, the article published in the Financial Times on Wednesday 6 November by the German finance minister has come as a bombshell. There is still a long way to go, but this statement responds to a real need for capital market unification and investors want to believe in this scenario. At the sector level, our analysts believe that it will rela...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/11/2019

Alors que l’Allemagne s’est opposée depuis la création de l’Union Bancaire à la création d’un fonds de garantie des dépôts au niveau européen, l’article publié dans le FT du ministre allemand des finances a fait l’effet d’une « bombe ». Il y a loin encore de la coupe aux lèvres, mais cette déclaration répond à un vrai besoin d’unification des marchés de capitaux et les investisseurs veulent y croire. Sur le plan sectoriel, nos analystes pensent qu’elle relancera les scénarios de conso...

Bruno Cavalier ...
  • Emmanuel Matot
  • Georges Dieng
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/02/2019

...

Bruno Cavalier ...
  • Emmanuel Matot
  • Georges Dieng
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 02/09/2019

...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Anis Zgaya
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/02/2019

...

ValuEngine Rating and Forecast Report for CNHI

ValuEngine Rating and Forecast Report for CNHI

ValuEngine Rating and Forecast Report for CNHI

ValuEngine Rating and Forecast Report for CNHI

ValuEngine Rating and Forecast Report for CNHI

ValuEngine Rating and Forecast Report for CNHI

ValuEngine Rating and Forecast Report for CNHI

ValuEngine Rating and Forecast Report for CNHI

ValuEngine Rating and Forecast Report for CNHI

ValuEngine Rating and Forecast Report for CNHI

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Summary First Tractor Co Ltd - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. KeyHighlights First Tractor Co Ltd (First Tractor), a subsidiary of YTO Group Corp Ltd, is a manufacturer of agricultural machinery. It carries out the manufacturing and distribution of agricultural and construction machinery. The company’s product portfolio includes road rollers, bulldozers, wheel lo...

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Summary Marketline's Ag Growth International, Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Ag Growth International, Inc. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its com...

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Expert Corporate Governance Service (ECGS)

CNH Industrial April 12, 2019

We have serious concerns over the CNH Industrial's corporate governance, as it does not respect the "one share rone vote" principle: all shareholders that have registered their shares for more than 3 years are entitled to receive an additional voting right. The major shareholder Exor (41.7% of votes with 26.9% of shares) holds 92.6% of special voting shares. Concerns also arise over the composition of the Board, as the Chairperson holds executive powers, the Senior Non-Executive Director is not independent as per our guidelines, having collected more than 12 years of association with the Group...

CNH Industrial – Proxinvest Corporate Governance Rating ® : E

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

CNH Industrial NV - 2018, November 29

In item 2, the EGM is called to appoint Mr. Hubertus M. Mühlhäuser as CEO, to replace Mr. Richard Tobin who resigned in April 2918. The position of Chair and CEO are split and we have not identified any specific concerns over the appointment of Mr.Mühlhäuser. Also taking into account his professional background and sector specific experience, we recommend approval. In item 3, the Board proposes to ratify the appointment of Ms. Suzanne Heywood as executive Chairwoman. Ms. Heywood has been a non-executive Director since 2016, representing the controlling shareholder Exor NV, and she was appoint...

Expert Corporate Governance Service (ECGS)

Proxy Report - 13/04/2018

We have serious concerns over the CNH Industrial's corporate governance, as it does not respect the "one share – one vote" principle: all shareholders that have registered their shares for more than 3 years are entitled to receive an additional voting right. The major shareholder Exor (26.9% of the share capital and 41.7% of votes) holds 92.9% of special voting rights. Concerns also arise over the composition of the Board, as it is chaired by the executive Director Mr. Sergio Marchionne, although the Bylaws provide that "the chairperson of the Board of Directors shall be a non-executive Direc...

Jérôme VINERIER

Short term view - CNH INDUSTRIAL NV : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €8.400. The background trend would be questioned should prices rise above €10.860.

Jérôme VINERIER

Analyse court terme - CNH INDUSTRIAL NV : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 8,400 €. La tendance de fond serait remise en cause en cas de franchissement de 10,860 €.

Jérôme VINERIER

Analyse court terme - CNH INDUSTRIAL NV : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 8,400 €, puis 7,799 €. Le franchissement de 10,860 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - CNH INDUSTRIAL NV : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €8.400, then €7.799. Passing €10.860 would question the continuation of the fall.

Valérie GASTALDY

Analyse moyen terme - CNH INDUSTRIAL NV : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

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