Shares of Ford (
) are trading modestly higher ahead of the company's Q3 results,
expected out tomorrow (October 26) before the market opens. This
afternoon, Ford shares are up 0.9% to $14.07.
The Street is currently expecting Ford to report Q3 EPS of 38c on
sales of $27.83 billion.
Ford normally reports its quarterly results right at 7am ET.
The automaker reported quarterly earnings of 68c per share last
quarter, beating the Street by a whopping 28c. Sales, meanwhile,
also came in sharply better than the Street estimate at $31.3
With Ford reporting quarterly non-GAAP EPS of 26c during Q3 of last
year, the current Street consensus would represent year-over-year
growth of hefty 46%. Sales during Q309 came in at $30.90 billion,
suggesting a decline of about 10% from where the Street is at for
the latest quarter.
According to Bloomberg, 11 analysts currently have Buy ratings on
Ford shares, 5 have Hold ratings and just 1 has a Sell rating.
Analysts at Soleil Securities recently raised their price target to
$20, matching a 'Street High'. The firm also raised EPS for FY10
from $1.75 to $1.95, FY11 from $1.95 to $2.20, and FY12 from $2.10
to $2.35 Soleil argues that "Ford's cost and revenue restructuring
have positioned the company to be a prime beneficiary of an
improving industry environment, and a faster-than-expected
improvement in its balance sheet..." The firm rates shares at Buy.
Also, ahead of earnings, Deutsche Bank raised it investment rating
on Ford from Hold to Buy with a $19.50 price target. The firm
noted, "while we have held a favorable opinion of Ford's strategy
and its outlook for some time, we have maintained a Hold
recommendation based on valuation, and based on uncertainty over a
number of medium term risks. But recent market and company specific
developments suggest that these risks are manageable, or
diminishing in intensity."
Stay tuned to StreetInsider.com's
to get the results and data within second of their release.