CNH Global N.V. (ADR) (NYSE:CNH)

CAPS Rating: 4 out of 5

A full-line company deals in both the agricultural and construction equipment industries in most geographic and product categories in both agricultural and construction equipment.

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Member Avatar InsaneUnknown (85.42) Submitted: 12/3/2012 4:56:13 AM : Outperform Start Price: $39.55 CNH Score: -19.64

CNH Announces Extraordinary General Meeting
12:46p ET November 30, 2012 (Market Wire)
The Board of Directors of CNH Global N.V. (NYSE: CNH) will hold an Extraordinary General Meeting (the "Meeting") of Shareholders at 5:00 p.m. CET on Monday, December 17, 2012 at the offices of the Company in the World Trade Center Amsterdam Airport, 10th Floor, Tower B, Schiphol Boulevard 217, 1118 BH Schiphol Airport, The Netherlands.

Shareholders will be asked to vote on four proposals: the payment of an extraordinary dividend to Company shareholders in the amount of US$ 10/share; amendments to the Company's Articles of Association to facilitate the payment of the dividend consistent with the Merger Agreement recently signed by the Company and Fiat Industrial S.p.A.; with respect to the dividend process, the allocation of part of CNH's reserves to special separate reserves; and ratification of the compensation to be paid to the members of the Special Committee. The Company's Board of Directors has approved these proposals and recommends the Company's shareholders approve such proposals.

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Member Avatar tim13803 (22.60) Submitted: 4/29/2012 6:08:44 PM : Underperform Start Price: $38.37 CNH Score: +18.55

While it won't come close to Deere, it should still do very well. They have great products and dealers especially in the ag segment.

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Member Avatar TMFTheDoctor (65.75) Submitted: 4/12/2012 4:00:57 PM : Outperform Start Price: $32.26 CNH Score: +3.04

www.fool.com/investing/general/2012/04/10/plow-your-way-to-profit-with-these-companies.aspx

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Member Avatar NEVERFADE (30.96) Submitted: 3/25/2011 7:13:36 PM : Outperform Start Price: $38.61 CNH Score: -29.03

Its not a scientific study but I know lots of Ag farmer's in CA who prefer Colt and Challenger to Deere products. DE has had its run but I think CNH is a great co at a great value.

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Member Avatar RustyBolts (21.51) Submitted: 2/22/2010 2:24:53 AM : Outperform Start Price: $21.17 CNH Score: +49.16

I predict a slow steady growth for mining and agricultural equipment worldwide. Sales should pick up as the economy recovers and more money is made available to help people finance this heavy equipment.

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Member Avatar rreed0421 (< 20) Submitted: 1/26/2009 1:09:53 PM : Outperform Start Price: $7.67 CNH Score: +399.90

While Fiat's creditworthiness is worrisome and the idling of the construction equipment plants is less than a plus to the bottom line, I feel the agricultural division will perform robustly enough to weather the storm. By mid-summer I believe that construction will begin feeling the positive impact of the Obama administration's infra-structure legislation and provide a lift to construction sales.

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Member Avatar brentvoss (26.57) Submitted: 1/14/2009 10:48:41 AM : Outperform Start Price: $12.34 CNH Score: +152.11

food

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Member Avatar dspl4Js (37.09) Submitted: 1/2/2009 10:51:02 PM : Outperform Start Price: $14.66 CNH Score: +111.67

Very profitable company usually without all these crazy goings on.

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Member Avatar neverabear (52.17) Submitted: 12/26/2008 9:53:35 PM : Outperform Start Price: $12.57 CNH Score: +154.45

Strong fundamentals

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Member Avatar campy19 (< 20) Submitted: 12/19/2008 11:32:05 AM : Outperform Start Price: $13.07 CNH Score: +145.43

Dollar down, increase equip requirement. Sector outperform: infrastructure/equip, stock (CNH) outperform dollar based competitors.

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Member Avatar bklynmp3j (98.36) Submitted: 10/15/2008 12:24:12 PM : Outperform Start Price: $13.22 CNH Score: +152.79

The Company’s global scope and scale in the agricultural and construction equipment industries make it well positioned for an early recovery. Demand will only increase.

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Member Avatar frontalobotomy (25.11) Submitted: 10/10/2008 11:35:06 AM : Outperform Start Price: $12.47 CNH Score: +154.88

the dow's been crashing. Time to get bargains on great companies

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Member Avatar Jim5769 (61.45) Submitted: 10/8/2008 8:45:04 PM : Outperform Start Price: $11.68 CNH Score: +213.06

Popped up on my value screen.

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Member Avatar MPOWERD (46.89) Submitted: 9/9/2008 2:14:40 PM : Outperform Start Price: $23.14 CNH Score: +43.31

CNH is a great international value play with a strong brand name.

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Member Avatar jroack (< 20) Submitted: 8/8/2008 2:28:53 AM : Outperform Start Price: $28.84 CNH Score: +3.28

global growth

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Member Avatar drafthorse1 (69.31) Submitted: 8/3/2008 10:09:34 PM : Outperform Start Price: $29.47 CNH Score: -1.07

farmers will make money this and they will spend it.

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Member Avatar satyahere (89.46) Submitted: 7/22/2008 10:37:57 AM : Outperform Start Price: $25.52 CNH Score: +24.62

Being #2 in agricultural and farming equipment, i think, this is one stock you can rely on to make some amends for all the techie meltdown. It has a good PE ratio and market cap is also not too bad.
Thumbs up on this one!

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Member Avatar givmeabreak (29.02) Submitted: 7/21/2008 5:04:29 PM : Outperform Start Price: $25.64 CNH Score: +22.96

Ag euip. exposure

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Member Avatar ongkaili (25.98) Submitted: 7/19/2008 8:55:47 AM : Underperform Start Price: $25.35 CNH Score: -27.11

murdered so far in 2008, reduction in farm spendings, floods pummeled the stock and i cant see where profits are going to come from.

down to the 20s.

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Member Avatar LEGMAKER (< 20) Submitted: 7/12/2008 10:11:42 AM : Outperform Start Price: $24.53 CNH Score: +32.17

The agricultural story is alive and well throughout the world as emerging markets have found a middle class. This new group

of people as a group are expanding and they are located in nations that have the biggest populations in the world. Supply

and demand dictates that the more you have of something the cheaper it is and vice verse. This doesnt just include things

such as oil or corn, but also people. Their large work forces mean that their populations have to fight for jobs that will

push them into a level of income that means they will be able to have things that Americans have everyday, such as meat or a

cell phone. This cheap labor has moved many of the blue collar jobs to places like China, India and even Hungary. As many

of these citizens move from agricultural areas to industrial, they no longer produce their own food and must purchase it, but

they also have more money to so and so eat more, especially meat.

During President Clinton's term, NAFTA legislation was imposed. At first I opposed the bill, but now it seems that this

Democratic legislation has incurred Republican favor as it has expanded throughout the world. NAFTA was suppose to keep

inflation down by sending work to Mexico and Canada that the United State's no longer wanted and provide for US needs that we

either couldn't or didn't want to be involved with. These types of jobs were figured to be unimportant as they paid to

little and it also increased our imports of materials and energy from Canada. It was also suppose to keep illegal Mexican

immigrants in Mexico as they would have more jobs in their home land.

As many jobs went to Mexican companies based on their promise of producing products for US companies for dimes on the dollar,

inflation stayed low. Other countries got into the act, and started to compete for this work with Mexico. China is who

everyone is concerned with, but their broad economic expansion has been based in their ability to provide products for a

penny on the dollar. This situation has many problems, but there are also positives that are a good trade for years to come.

The agricultural boom is my favorite. I have positions of POT, IPI, and MON in my brokerage account. They have been

volitile as of late but have many implications that point to growth now and in the years to come. One part of this play

seems forgotten as DE couldn't provide what the Street wanted in last quarter's earnings. These forgotten companies have

been sold off and are a value at the prices they sell. My favorite within this industry is CNH, although they all seem good

going forward.

CNH has seen it's stock price cut in half over since their high on January 3rd. Although they have broad exposure to

construction equipment they are seeing massive demand for their high priced agricultural equipment. CNH is coming off of

their best quarter in company history. Consolidated revenues were up 26%. Net income increased 18%. Their equipment

operations operating profit was up 21%. Diluted EPS was up 20%. They also confirmed their 2008 outlook of $3.30 to $3.60

per share.

If we break down the numbers you will understand why the long term benefits for owning this company could be quite large.

Quarter over quarter, tractor and combine sales were up 2% from 2007. Outside North America tractor sales were up 5%. Large

tractor sales in North America were up 30%. Most importantly were combine sales, as they were up world wide 40%. Market

share for world tractor sales increased and combine share increased in Latin America and Western Europe. Combine sales share

increased while the total revenue in this division was up 55%. Combine sales to Latin America alone were up 84%.

It seems that much of the sell, with respect to CNH has to do with the slow down in North America. Even with North American

construction equipment sales down 24% in light equipment and 28% in heavy equipment CNH still saw a world increase of sales

of 17% and 29% respectively. They have seen positive pricing improvements in all areas except North American light

construction equipment. These improvements have moved CNH to invest $88 million in improving company price efficiencies.

These investments should improve margins going forward.

2008 outlook seems quite good. Large tractors, although projecting sales to be down in North America, look to have growth in

sales of up to 6% for this year. This growth will be driven by Latin America, where sales are estimated to increase from 20%

to 26%. World wide combine sales are estimated to increase 20-25%. Light construction equipment is estimated to grow up to

5% and heavy construction 5%-10%.

Looking at these earnings and equating them to the current stock price has the PE at 11.9 and forward PE at 7.05. Analyst

estimates have next quarter's earnings up 37.1% and full year's earnings up 30.8%. Next year's earnings are approximated to

be 20.6%. Over the last five years, this company has grown 32% per year, while analyst's have the company only growing 8%

for the next five. Even if this growth number is correct the company is only selling for a five year PEG of 1.07.

The reason I believe these forward estimates to be low has to do with the US economy. I do not believe that much will get

done to benefit the US until the election is done. In 2009, I do believe that the economy will improve as the situation with

energy infrastructure is addressed. I do think that plants based on natural gas and nuclear will be started and with that

give the economy a boost. This should help sales of construction equipment through 2009-2013 approximately. As this is

occuring farm and construction equipment sales should continue to grow. Look for CNH to hit the top end of earnings for

2008.

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