Market Update (NYSE:F): Ford will expand self-driving test car fleet to 30

[Reuters] – Ford Motor Co said Tuesday it plans to triple to 30 the size of its fleet of self-driving test cars as part of an effort to accelerate autonomous vehicle development. In an announcement coinciding with the Consumer Electronics Show in Las Vegas, Ford said it will begin using a new, lower cost LiDAR sensor made by California-based Velodyne. Ford said it will be the first automaker to use Velodyne’s new solid state “hybrid Ultra PUCK Auto” sensor. Read more on this. Ford Motor Co. (F) , valued at $54.49B, began trading this morning at $13.97. Looking at the equity, the company’s one day range is $13.51 to $14.00 with a trailing 52-week range being $10.44 to $16.74. Ford (F) shares are currently priced at 8.62x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.29x earnings multiple for the same period. The company pays shareholders $0.60 per share annually in dividends, yielding 4.26%. Consensus earnings for the current quarter by the 17 sell-side analysts covering the stock is an estimate of $0.47 per share, which would be $0.21 better than the year-ago quarter and a $0.05 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $1.62 would be a $0.46 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $36.23 Billion. If reported, that would be a 7.19% increase over the year-ago quarter. In terms of ratings, Buckingham Research upgraded F from Neutral to Buy (Oct 15, 2015). Previously, Goldman upgraded F from Neutral to Buy. Investors should keep in mind is that the average price target is $17.53, which is 25.48% above where the stock opened this morning. See more in (NYSE:F) Similar Articles: Market Update: Ford Motor Company (NYSE:F) – Ford and Google: Teaming Up to Build the Car of the Future? Company Update (NYSE:F): Ford First Automaker to Test Autonomous Vehicle at Mcity, University of Michigan’s Simulated Urban Environment Market Update: Ford Motor Company (NYSE:F) – Ford Expands Social Responsibility in Panama with Innovative Ford Driving Dreams Education Initiative
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