Analysts Adjust Forecasts for Ford Motor Company Ahead of Q3 Earnings
Ford Motor Company Set to Announce Q3 Earnings Results
Ford Motor Company (NYSE:F) is preparing to release its earnings results for the third quarter shortly. Investors and market analysts are keeping a close eye on what the iconic American automotive manufacturer will report.
Analysts' Earnings Expectations
Current expectations from analysts suggest that Ford is likely to report earnings of 36 cents per share for this quarter. This marks a decrease from 49 cents per share reported in the same period last year. Meanwhile, the estimated quarterly revenue stands at approximately $42.87 billion, which is a slight decline compared to $43.07 billion recorded a year earlier.
Recent Performance Overview
Ford has demonstrated a commendable performance in previous quarters, having surpassed revenue estimates in two consecutive quarters and in seven out of the last ten quarters overall. This trend highlights the company's potential resilience amid fluctuating market conditions.
Current Stock Price Movement
Recently, Ford's stock encountered a minor setback, closing down 1% at $12.43 as of the last trading session. Such fluctuations are not uncommon as the market awaits the upcoming earnings report.
Analyst Ratings and Forecasts
In light of these upcoming earnings announcements, several analysts have adjusted their ratings and price targets for Ford. The following highlights their recent assessments:
Jefferies Upgrades Ford's Stock
Jefferies analyst Philippe Houchois upgraded the stock from Underperform to Hold, increasing the price target from $9 to $12. This revision reflects his 72% accuracy rate.
Goldman Sachs Maintains Neutral Rating
Mark Delaney from Goldman Sachs held a Neutral rating while raising the price target for Ford from $11 to $12. Delaney's accuracy rate stands at 78%.
RBC Capital Adjusts its Sector Performance Rating
Analyst Tom Narayan from RBC Capital maintained a Sector Perform rating, also increasing the price target from $10 to $11, showcasing his 73% accuracy in previous forecasts.
Piper Sandler Maintains Neutral Outlook
Piper Sandler analyst Alexander Potter kept a Neutral rating, adjusting the price target from $9 to $9.5, supported by an impressive accuracy rate of 78%.
Citigroup's Rating Update
Citigroup analyst Michael Ward reiterated a Neutral rating and lifted the price target from $10 to $11, demonstrating a 75% accuracy in his analyses.
Maximizing Insights for Potential Investors
For those considering an investment in Ford, understanding the insights from analysts is crucial. Analysts offer valuable perspectives on both potential risks and advantages associated with holding Ford stock during a time when profitability might be pressured.
Frequently Asked Questions
What earnings per share is Ford expected to report in Q3?
Ford is expected to report earnings of 36 cents per share for the third quarter.
How much revenue is Ford projected to generate?
The consensus estimate for Ford's quarterly revenue is approximately $42.87 billion.
How has Ford performed in previous quarters?
Ford has beaten revenue expectations in two consecutive quarters and seven out of the last ten quarters overall.
What was Ford's recent stock closing price?
Ford's stock closed down at $12.43 as of the last trading session.
What are the latest analyst ratings for Ford?
Analysts from firms like Jefferies, Goldman Sachs, and others have updated their price targets and ratings based on recent developments.
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