Company Update: Ford Motor Company (NYSE:F) – Ford seeks partnerships as it looks beyond car-making

[Reuters] – Ford Motor Co Chairman Bill Ford said on Monday the automaker would look for more partnerships with other companies as it moves to expand beyond manufacturing and selling cars and trucks. “You’ll see a lot of partnerships, a lot more than you used to see in the auto industry,” Ford told reporters after addressing a conference on entrepreneurship in Detroit. Ford did not disclose any new deals and said Ford’s management is still working to define its strategy for self-driving cars, connecting vehicles to the internet and developing new transportation services such as ride sharing. Read more on this. Ford Motor Co. (F) , with a current market cap of $52.20B, started the session at $13.14. A quick look at the market, the company’s stock traded between $13.11 and $13.20 with the price of the stock fluctuating between $10.44 to $15.84 over the last 52 weeks. Priced at 6.29x this year’s forecasted earnings, F shares are relatively inexpensive compared to the industry’s 19.13x forward p/e ratio. The company pays shareholders $0.60 per share annually in dividends, yielding 4.55%. Consensus earnings for the current quarter by the 15 sell-side analysts covering the stock is an estimate of $0.61 per share, which would be $0.14 better than the year-ago quarter and a $0.04 sequential increase. What we find to be interesting is that the full-year EPS estimate of $2.08 is a $0.15 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $36.17 Billion. If reported, that would be a 3.05% increase over the year-ago quarter. In terms of ratings, BofA/Merrill downgraded F from Buy to Neutral (Apr 29, 2016). Previously, Credit Suisse downgraded F from Neutral to Underperform. The average price target for F shares is $16.07, which is 22.30% above where the stock opened this morning. See more in (NYSE:F) Similar Articles: Stock Update: Ford Motor Company (NYSE:F) – Ford Motor Company Supports Innovation, STEM Education with Smithsonian’s Spark!Lab at Michigan Science Center Market Update: Ford Motor Company (NYSE:F) – Media Advisory: Details of Ford Motor Company’s March 2016 U.S. Sales Conference Call 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
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