Shares of Ford Motor Company (NYSE:F – Get Free Report) shot up 1% during trading on Wednesday . The company traded as high as $14.70 and last traded at $14.4190. Approximately 61,823,017 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 60,757,418 shares. The stock had previously closed at $14.27.
Key Ford Motor News
Here are the key news stories impacting Ford Motor this week:
- Positive Sentiment: Ford announced a Europe-focused manufacturing joint venture with Geely at its Valencia, Spain plant, which should improve factory utilization, support jobs, and help Ford expand its EV lineup in Europe. FORD AND GEELY AUTO JOIN FORCES IN EUROPE TO PRODUCE NEXT-GENERATION MULTI-ENERGY VEHICLES IN SPAIN
- Positive Sentiment: Ford said its upcoming EV platform will embed Apple Maps and related road-level data, which could strengthen its in-car software experience and support next-generation BlueCruise hands-free driving features. China’s Geely to make electric SUVs at Ford Spain plant, jointly develop model for Europe
- Neutral Sentiment: Analysts were also focused on Ford’s upcoming second-quarter earnings, with investors watching for signs on revenue, margins, and EV execution ahead of the report. Ford Motor (F) Q2 Earnings Preview: What You Should Know Beyond the Headline Estimates
- Negative Sentiment: Ford is recalling 565,691 U.S. vehicles because engine-compartment wiring harnesses may be damaged and short circuit, creating a fire risk and adding another quality/safety overhang. Ford to recall more than 565,000 US vehicles over engine compartment fire risk
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on F shares. Weiss Ratings restated a “buy (b)” rating on shares of Ford Motor in a research note on Wednesday, June 24th. JPMorgan Chase & Co. boosted their price objective on shares of Ford Motor from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Wall Street Zen raised Ford Motor from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. UBS Group raised their target price on Ford Motor from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, The Goldman Sachs Group lifted their price target on Ford Motor from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.79.
Ford Motor Price Performance
The stock has a market cap of $56.44 billion, a price-to-earnings ratio of -9.14, a price-to-earnings-growth ratio of 0.35 and a beta of 1.82. The stock’s 50 day moving average price is $14.40 and its two-hundred day moving average price is $13.43. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 2.84.
Ford Motor (NYSE:F – Get Free Report) last issued its earnings results on Wednesday, April 29th. The auto manufacturer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.48. Ford Motor had a negative net margin of 3.22% and a positive return on equity of 15.77%. The firm had revenue of $43.25 billion during the quarter, compared to analysts’ expectations of $42.66 billion. During the same quarter last year, the company posted $0.14 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Ford Motor Company will post 1.62 EPS for the current fiscal year.
Ford Motor Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, May 12th. Ford Motor’s payout ratio is -38.71%.
Institutional Trading of Ford Motor
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Ford Motor during the 4th quarter worth approximately $674,437,000. Marshall Wace LLP lifted its stake in shares of Ford Motor by 81.1% in the 3rd quarter. Marshall Wace LLP now owns 35,438,722 shares of the auto manufacturer’s stock valued at $423,847,000 after purchasing an additional 15,866,285 shares during the period. AQR Capital Management LLC lifted its stake in shares of Ford Motor by 610.1% in the 4th quarter. AQR Capital Management LLC now owns 11,177,304 shares of the auto manufacturer’s stock valued at $146,646,000 after purchasing an additional 9,603,267 shares during the period. Bank of New York Mellon Corp boosted its holdings in Ford Motor by 26.9% during the fourth quarter. Bank of New York Mellon Corp now owns 38,153,383 shares of the auto manufacturer’s stock worth $500,572,000 after buying an additional 8,086,564 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Ford Motor by 458.7% during the first quarter. SG Americas Securities LLC now owns 9,002,765 shares of the auto manufacturer’s stock valued at $103,892,000 after buying an additional 7,391,361 shares during the period. 58.74% of the stock is owned by institutional investors and hedge funds.
About Ford Motor
Ford Motor Company (NYSE: F) is an American multinational automaker headquartered in Dearborn, Michigan. Founded by Henry Ford in 1903, the company became an early pioneer of mass-production techniques with the Model T and the adoption of the moving assembly line. Today, Ford designs, manufactures, markets and services a broad range of vehicles and mobility solutions under the Ford and Lincoln brands, spanning passenger cars, SUVs, pickup trucks and commercial vehicles.
Ford’s business activities extend beyond vehicle production to include parts and aftermarket services, fleet and commercial sales, and automotive financing through Ford Motor Credit Company.
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