CNH Industrial slides after lowering FY profit forecast

Shares of farm and construction equipment maker CNH Industrial CNH.N down nearly 11.2% to $9.1 premarket

CNH lowers FY profit forecast, as it scales back production of tractors and combines on sluggish demand

Expects FY adj profit to be between 44 and 50 cents per share, from 50 to 70 cents earlier

Posts Q3 adj profit of eight cents per share, below analysts' average estimates of 13 cents - data compiled by LSEG

Its quarterly revenue came at $4.39 bln, beating Wall Street's estimate of $3.91 bln

Eleven of 20 brokerages rate the stock "buy" or higher and nine "hold"; their median PT is $14, according to data compiled by LSEG

As of last close, shares down 9.4% YTD