Ford Motor Co.
) reached a new 52-week high of $16.21 on Jul 2, which is above
its previous level of $16.09 on Jun 4, and closed at $16.18 on
the same date. The closing price represented an impressive
one-year return of 76.6% and strong year-to-date return of 24.4%.
The world's leading automaker has a market cap of $61.9 billion.
Average volume of shares traded over the last three months stood
at approximately 41,874.2K.
Shares of the company started escalating following the release of
its impressive first quarter results on Apr 24 as well as
continuous improvements in the automotive market.
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 first 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 increase in revenues and earnings was mainly attributable to
Ford's strong performance in North America and Asia-Pacific
Africa. However, the company's results were disappointing in
South America due to unfavorable exchange rate as well as in
Europe due to the sluggish economy.
In 2013, Ford expects its market share in the U.S. and China
to exceed that of 2012, while Europe is expected to remain at the
same level. Its market share in 2012 was 15.2% in the U.S.,
7.9% in Europe and 3.2% in China.
FORD MOTOR CO (F): Free Stock Analysis Report
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HONDA MOTOR (HMC): Free Stock Analysis Report
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Further, U.S. automotive industry continues to improve driven by
continued macroeconomic recovery, aging vehicles on the U.S.
roads and strong demand for commercial vehicles from businesses.
Vehicle sales in June are expected to reach its highest level in
nearly half a decade, indicating increased economic activities.
Currently, shares of Ford retain a Zacks Rank #3 (Hold). Some
stocks that are performing well in the automotive industry
Nissan Motor Corp.
Fuji Heavy Industries Ltd.
Honda Motor Co.
). Both Nissan Motor and Fuji retain a Zacks Rank #1 (Strong
Buy), while Honda Motor holds a Zacks Rank #2 (Buy).