Ford Motor Co.
) reached new 52-week high of $15.32 on May 22, which is above
its previous level of $15.23 and closed at low-point of $14.97 on
the same date. Their last closing price was $14.79, which
represented a solid one-year return of 43.2% and year-to-date
return of 13.7%.
The world's leading automaker has a market cap of $58.1 billion.
Average volume of shares traded over the last three months stood
at approximately 36,872.6K.
Shares of the company started escalating following the release of
its impressive first quarter results on Apr 24. Ford posted an
increase of 4.1% in earnings to $1.6 billion and 5.1% in earnings
per share to 41 cents in the quarter, beating the Zacks Consensus
Estimate by 3 cents. Revenues improved 10.5% to $35.8 billion,
exceeding the Zacks Consensus Estimate of $32.8 billion.
The improvement in revenues and earnings was mainly attributable
to Ford's strong performance in North America and Asia Pacific
Africa. The company's results were disappointing in South America
due to unfavorable exchange rate as well as in Europe due to the
Revenues in Ford Automotive grew 11.1% to $33.9 billion on a
10.2% rise in wholesale volumes to 1.5 million units. The
increase was attributable to market share gains in both North
America and Asia Pacific Africa. However, pre-tax profit fell
10.6% to $1.6 billion (5.2% of sales) from $1.8 billion (6.4%)
due to poor performance in Europe and South America.
Ford Credit registered a 12.2% rise in pre-tax operating profits
to $507 million from $452 million a year ago due to higher
receivables and favorable residual performance, offset partially
by lower credit loss reserve reductions.
Ford expects its 2013 market share in the U.S. to be higher than
2012, Europe to be almost the same as in 2012, and China to be
higher than 2012. Its market share in 2012 was 15.2% in the U.S.,
7.9% in Europe and 3.2% in China.
Currently, shares of Ford retain a Zacks Rank #3 (Hold). Few
stocks that are performing well in the broader industry include
Tower International, Inc.
). They carry a Zacks Rank #1 (Strong Buy).
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