Ford Motor (NYSE:F) Shares Gap Up on Better-Than-Expected Earnings

Shares of Ford Motor (NYSE:FGet Free Report) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $12.07, but opened at $12.73. Ford Motor shares last traded at $12.62, with a volume of 27,462,079 shares trading hands.

The auto manufacturer reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.17. The company had revenue of $43.21 billion during the quarter, compared to the consensus estimate of $43.06 billion. Ford Motor had a net margin of 3.54% and a return on equity of 21.01%. Ford Motor’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on F. UBS Group downgraded shares of Ford Motor from a “buy” rating to a “neutral” rating and set a $12.00 target price for the company. in a report on Wednesday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $12.00 price target on shares of Ford Motor in a research note on Wednesday. Morgan Stanley decreased their price target on shares of Ford Motor from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 31st. HSBC began coverage on shares of Ford Motor in a research note on Monday, December 4th. They issued a “hold” rating and a $11.30 price target on the stock. Finally, Barclays upgraded shares of Ford Motor from an “equal weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.66.

Read Our Latest Research Report on Ford Motor

Insider Buying and Selling

In related news, insider John Douglas Field bought 182,000 shares of the company’s stock in a transaction on Friday, December 8th. The shares were acquired at an average cost of $11.05 per share, for a total transaction of $2,011,100.00. Following the purchase, the insider now directly owns 720,176 shares of the company’s stock, valued at $7,957,944.80. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ford Motor

A number of hedge funds have recently added to or reduced their stakes in F. Snider Financial Group increased its holdings in Ford Motor by 100,345.2% during the first quarter. Snider Financial Group now owns 219,805,167 shares of the auto manufacturer’s stock valued at $3,717,000 after buying an additional 219,586,336 shares during the period. Norges Bank purchased a new position in Ford Motor in the fourth quarter worth $419,237,000. Moneta Group Investment Advisors LLC grew its holdings in Ford Motor by 81,406.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 30,201,290 shares of the auto manufacturer’s stock worth $351,241,000 after purchasing an additional 30,164,236 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Ford Motor by 133.1% in the second quarter. Renaissance Technologies LLC now owns 20,721,009 shares of the auto manufacturer’s stock worth $313,509,000 after purchasing an additional 11,832,600 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Ford Motor by 18.5% in the second quarter. Fisher Asset Management LLC now owns 60,733,261 shares of the auto manufacturer’s stock worth $918,894,000 after purchasing an additional 9,481,852 shares during the last quarter. 52.73% of the stock is currently owned by institutional investors.

Ford Motor Stock Up 6.0 %

The company’s fifty day simple moving average is $11.63 and its 200-day simple moving average is $11.71. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a market capitalization of $51.20 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62.

About Ford Motor

(Get Free Report)

Ford Motor Company develops, delivers, and services a range of Ford trucks, commercial cars and vans, sport utility vehicles, and Lincoln luxury vehicles worldwide. It operates through Ford Blue, Ford Model e, and Ford Pro; Ford Next; and Ford Credit segments. The company sells Ford and Lincoln vehicles, service parts, and accessories through distributors and dealers, as well as through dealerships to commercial fleet customers, daily rental car companies, and governments.

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