Ford Motor Co. (NYSE: F) is scheduled to release its most recent quarterly results after the markets close on Wednesday. Thomson Reuters has consensus estimates calling for $0.26 in earnings per share (EPS) and $33.98 billion in revenue. The third quarter of last year reportedly had $0.29 in EPS and $34.66 billion in revenue.
Earlier this month, Ford reported that third-quarter truck sales jumped 8.8% to 309,920 units and year-to-date truck sales were up 6.9% at 854,220 units. That’s the highest third-quarter total in 14 years. F-Series pickup sales dropped 6% for the quarter and were down 2.4% for the year.
The all-new Ranger midsize pickup sold 26,211 units in the quarter, which brought total sales for the F-Series and Ranger to a quarterly total of 240,387 units sold (up 5.5% year over year) and a year-to-date total of 719,087, nearly 6% higher than year-to-date sales through the third quarter of 2018.
Sport utility vehicle sales tumbled 10.5% compared to the third quarter of last year, based on a drop of 13.2% in Ford-brand SUV sales and an increase of 19.2% in Lincoln-brand SUVs. For the year to date, Ford-brand SUV sales were down 6.5% while Lincoln-brand sales were up 11.9%.
Overall sales were down 4.9% year over year for the quarter and year-to-date sales were down 3.5% compared to the first nine months of 2018.
Overall, Ford has performed more or less in line with the broad markets in 2019, with the stock up about 18.6%. In the past 52 weeks, the stock is up closer to 7%.
A few analysts weighed in on Ford ahead of the results:
- Buckingham Research has a Neutral rating and an $8 price target.
- Morgan Stanley’s Buy rating comes with a $12 price target.
- Credit Suisse has an Outperform rating with a $12 price target.
- Merrill Lynch rates it at Buy rating with a $13 price target.
- RBC has a Neutral rating with a $10.50 price target.
Shares of Ford traded at $9.06 on Wednesday, in a 52-week range of $7.41 to $10.56. The consensus price target is $10.45.
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
