Company Update: Ford Motor Company (NYSE:F) – May U.S. auto sales drop for GM, Ford as FCA up slightly

[Reuters] – The U.S. auto industry looks set for another record year, even as May new-vehicle sales reported so far on Wednesday showed a decline due to weak demand for sedans and fewer selling days. Ford Motor Co, which reported a 6 percent drop to 235,997 vehicles from a year earlier, estimated a sales decrease of about 8 percent for the U.S. industry in May. Shares of General Motors Co, the largest U.S. automaker, were down 3.4 percent at $30.23 in morning trading, while Ford fell 3.4 percent to $13.04. Read more on this. Ford Motor Co. (F) , with a current market cap of $51.69B, started the session at $13.43. Today, shares have traded between $12.97 and $13.44 per share with its 52-week range being $10.44 to $15.84. F shares are currently priced at 6.47x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.02x forward p/e ratio. The company pays shareholders $0.60 per share annually in dividends, yielding 4.46%. According to a consensus of 15 analysts, the earnings estimate of $0.61 per share would be $0.14 better than the year-ago quarter and a $0.04 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $2.08, which would be a $0.15 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $36.17 Billion. If realized, that would be a 3.05% increase over the year-ago quarter. More recently, BofA/Merrill downgraded F from Buy to Neutral (Apr 29, 2016). Previously, Credit Suisse downgraded F from Neutral to Underperform. With the above information in mind, readers should note that the average price target is $15.73, which is 17.13% above where the stock opened this morning. See more in (NYSE:F) Similar Articles: Company Update: Ford Motor Company (NYSE:F) – Ford Sales in Europe Continue to Rise in April; Mustang Germany’s No.1 Sports Car Among Private Retail Buyers Market Update: Ford Motor Company (NYSE:F) – Media Advisory: Details of Ford Motor Company’s March 2016 U.S. Sales Conference Call Company Update: Ford Motor Company (NYSE:F) – Ford Sets Annual Sales Record in China, More Than 1.1 Million Vehicles Sold in 2015
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