Zacks Investment Research upgraded shares of Ford Motor (NYSE:F) from a strong sell rating to a hold rating in a research note released on Tuesday.
According to Zacks, “In third-quarter 2018, Ford’s adjusted earnings were in line with the Zacks Consensus Estimate while revenues surpassed estimates. Compared with the year-ago quarter, earnings per share witnessed a decline, while revenues observed growth. Increased sales of F-Series trucks and SUVs in North America drove its EBIT with nearly $2 billion. This encouraged Ford to offer various versions of crossovers, SUVs and pickup trucks across all the major markets. It has also been working on bringing autonomous vehicle technology to the marketby 2021. Further, to reduce costs the company has announced that it is restructuring its business over a period of three to five years. However, frequent vehicle recalls are adding to its expenses and tarnishing the brand name. Further, weakening sales in China and Europe, along with higher costs, are major concerns for the company. Over the past year, shares of Ford have underperformed the industry it belongs to.”
Several other research firms also recently commented on F. ValuEngine downgraded shares of Ford Motor from a sell rating to a strong sell rating in a report on Thursday, July 5th. Piper Jaffray Companies reaffirmed a hold rating on shares of Ford Motor in a report on Tuesday, July 24th. Royal Bank of Canada reaffirmed a hold rating and set a $11.50 price objective on shares of Ford Motor in a report on Thursday, July 26th. UBS Group dropped their price objective on shares of Ford Motor from $15.00 to $14.00 and set a buy rating on the stock in a report on Thursday, July 26th. Finally, Buckingham Research dropped their price objective on shares of Ford Motor from $11.00 to $10.00 and set a neutral rating on the stock in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $11.58.
Ford Motor (NYSE:F) last issued its quarterly earnings results on Wednesday, October 24th. The auto manufacturer reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. The company had revenue of $34.66 billion for the quarter, compared to the consensus estimate of $32.05 billion. Ford Motor had a net margin of 3.88% and a return on equity of 15.48%. During the same period in the previous year, the firm earned $0.43 EPS. On average, analysts expect that Ford Motor will post 1.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Tuesday, October 23rd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.40%. The ex-dividend date of this dividend is Monday, October 22nd. Ford Motor’s dividend payout ratio is presently 33.71%.
In related news, Director Ray T. Charley acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were bought at an average cost of $12.90 per share, for a total transaction of $51,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Steven R. Armstrong sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $9.54, for a total transaction of $124,020.00. Following the completion of the transaction, the vice president now owns 94,527 shares in the company, valued at $901,787.58. The disclosure for this sale can be found here. Corporate insiders own 0.95% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Wealth Advisors of Tampa Bay LLC grew its position in Ford Motor by 1.3% during the second quarter. Wealth Advisors of Tampa Bay LLC now owns 376,325 shares of the auto manufacturer’s stock valued at $4,182,000 after acquiring an additional 4,766 shares during the last quarter. First Command Bank grew its position in Ford Motor by 83.9% during the second quarter. First Command Bank now owns 11,438 shares of the auto manufacturer’s stock valued at $127,000 after acquiring an additional 5,219 shares during the last quarter. First Command Financial Services Inc. grew its position in Ford Motor by 83.9% during the second quarter. First Command Financial Services Inc. now owns 11,438 shares of the auto manufacturer’s stock valued at $127,000 after acquiring an additional 5,219 shares during the last quarter. WealthTrust Axiom LLC grew its position in Ford Motor by 5.0% during the second quarter. WealthTrust Axiom LLC now owns 110,300 shares of the auto manufacturer’s stock valued at $1,221,000 after acquiring an additional 5,300 shares during the last quarter. Finally, Wetherby Asset Management Inc. grew its position in Ford Motor by 12.9% during the second quarter. Wetherby Asset Management Inc. now owns 46,639 shares of the auto manufacturer’s stock valued at $516,000 after acquiring an additional 5,338 shares during the last quarter. Institutional investors own 54.09% of the company’s stock.
Ford Motor Company Profile
Ford Motor Company designs, manufactures, markets, and services a range of Ford cars, trucks, sport utility vehicles, and electrified vehicles; and Lincoln luxury vehicles worldwide. Its Automotive segment sells Ford and Lincoln vehicles, service parts, and accessories through distributors and dealers, as well as through dealerships to fleet customers, including commercial fleet customers, daily rental car companies, and governments.
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