8.38 -0.03 (-0.36%)
After hours: 7:16PM EDT
|Bid||8.39 x 800|
|Ask||8.40 x 800|
|Day's range||8.27 - 8.45|
|52-week range||8.19 - 13.48|
|Beta (3Y monthly)||0.74|
|PE ratio (TTM)||4.98|
|Earnings date||24 Oct 2018|
|Forward dividend & yield||0.60 (7.06%)|
|1y target est||10.11|
Prominent members of the world's business community are dropping out of Saudi Arabia's Future Investment Initiative, commonly known as Davos of the Middle East.
“U.S. steel costs are more than anywhere else in the world,” Joe Hinrichs, Ford’s president of global operations, said Monday at an event marking the start of Ranger pickup production at a factory west of Detroit. Ford Chief Executive Officer Jim Hackett last month called on President Donald Trump’s administration to resolve trade disputes quickly, warning that they would otherwise do more damage to the second-largest American automaker. U.S. steel currently costs about $260 more per short ton than steel in China, which accounts for more than half of global demand.
It has been more than a year since Jim Hackett took charge as CEO of Ford Motor Company (F) in May 2017. Mark Fields, its CEO back then, was facing criticism for being unable to increase investor confidence while Ford stock was underperforming the broader market and its peers. Since Hackett became CEO, Ford stock has fallen 23% as of October 18, reflecting no positive shift in investor sentiment.
Ford Motor Company (F) sold about 119,000 vehicle units in Europe in September. This data reflected a sharp drop of ~8.2% from its European market sales (IYK) in the same month of 2017.
In the second quarter, Ford Motor Company (F) reported automotive segment EBIT (earnings before interest and taxes) of $1.7 billion, down 52% YoY (year-over-year). Its automotive EBIT margins fell to 3.2% in the second quarter compared to 6.5% in the second quarter of 2017.
In the third quarter, Italian-American automaker Fiat Chrysler’s (FCAU) total Italy market sales reached ~95,000 vehicles units. This reflected a sharp drop of ~14.9% YoY (year-over-year).
Earlier this month, the IMF lowered its global growth forecast for 2018 and 2019 from 3.9% to 3.7%. At the beginning of the year, the IMF had raised its 2018 global economic growth forecast to 3.9% from 3.8%, calling it “the broadest synchronized global growth upsurge since 2010.” Six months down the line, while it maintained the growth forecast, it dropped the term “synchronized.” Now, even the growth forecast has been trimmed due to the trade war scare. Lower global growth isn’t encouraging for markets (QQQ).
Its second-quarter automotive revenue was slightly higher than analysts’ estimate of $35.8 billion. A 10% YoY (year-over-year) fall in Ford’s global wholesale volumes affected its automotive revenue in the second quarter despite an overall favorable product mix, net pricing, and foreign exchange. Now let’s take a look at what analysts are estimating for Ford’s third-quarter revenue.
According to the latest data compiled by Reuters, 76% of the 21 analysts covering Ford Motor Company (F) stock have given it a “hold” recommendation. As of October 18, analysts’ consensus 12-month target price for Ford is $9.96, with an upside potential of ~19% from its market price of $8.51.