Company Update (NYSE:F): Ford Smart Mobility LLC Established to Develop, Invest in Mobility Services; Jim Hackett Named Subsidiary Chairman

[Business Wire] – Ford Motor Company is announcing today the creation of Ford Smart Mobility LLC, a new subsidiary formed to design, build, grow and invest in emerging mobility services. Jim Hackett, former Steelcase vice chairman and CEO, is leaving his position on the Ford Board of Directors to serve as chairman of the new subsidiary. Read more on this. Ford Motor Co. (F) , with a current value of $52.75B, opened at $13.26. Today, shares have traded between $13.20 and $13.30 per share and has traded between $10.44 and $16.74 over the past year. Ford (F) shares are currently priced at 6.91x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 13.21x earnings multiple for the same period. And for income investors, the company pays shareholders $0.60 per share annually in dividends, yielding 4.41%. In a review of the consensus earnings estimate this quarter, 15 sell-side analysts are looking at $0.47 per share, which would be $0.24 better than the year-ago quarter and a $0.03 sequential increase. What we find to be interesting is that the full-year EPS estimate of $1.97 is a $0.04 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $35.56 Billion. If reported, that would be a 11.82% increase over the year-ago quarter. Recently, Credit Suisse downgraded F from Neutral to Underperform (Feb 24, 2016). Previously, Buckingham Research upgraded F from Neutral to Buy. The average price target for F shares by the analysts covering the stock is $15.65, which is 18.02% above where the stock opened this morning. See more in (NYSE:F) Similar Articles: Market Update: Ford Motor Company (NYSE:F) – Ford Brand SUVs Post Strongest Start since 2004; Ford Vans Have Best Start in 31 Years, Thanks to New Transit Stock Update: Ford Motor Company (NYSE:F) – Ford and Jay Leno to Auction One-of-a-Kind Harley-Davidson Ford F-150 to Benefit National Multiple Sclerosis Society Company Update: Ford Motor Company (NYSE:F) – Ford Sets Annual Sales Record in China, More Than 1.1 Million Vehicles Sold in 2015