NYSE:CNHMachinery
CNH Industrial (CNH) Stock Rebound Runs Into Margin And Valuation Doubts
CNH Industrial walked into this earnings day with a flat near term record and a rich valuation story. The stock had slipped over the past week and three months, yet it now trades at about $10.80, up roughly 5% on the session, and on a P/E of about 43x that sits well above peers.
The headline is simple. Q2 showed modest revenue of about $4.8b and net income of $138m while margins over the past year remained thin and leverage coverage stayed uncomfortable. The market cheered the print anyway...