Ford Motor Q3 Profit Misses Estimates

Zacks upgraded Ford Motor Company from a hold rating to a buy rating and set a $17.00 price target on the stock in a research report on Thursday, July 30th. The stock is trading down 3.44% at $15.15, as of 7:53 AM EDT, following the automaker’s disappointing results.

Shares of Ford Motor Company (NYSE:F) opened at 15.68 on Tuesday. The firm’s 50 day moving average price is $31.78 and its 200-day moving average price is $33.02.

Excluding one-time items, Ford earned 45 cents per share, falling short of the 46-cent profit forecast by Wall Street, according to analysts surveyed by FactSet. Shanks said analysts forecast a 32-percent tax rate, but Ford’s third-quarter rate was 33 percent. The auto manufacturer reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.10. Its profit, of 48 cents per share, compared with a profit of 27 cents in the same quarter a year ago. The business’s quarterly revenue was down 1.3% on a year-over-year basis.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Even as the interest increased from 82,705,699 shares on September 30,2015 to 83,401,755 shares on October 15,2015, the days to cover came in at 3. The ex-dividend date is Wednesday, October 28th. The stock was sold at an average price of $13.80, for a total value of $1,263,748.80. The sale was disclosed in a document filed with the SEC, which is available at this link. The stock has a market cap of $55.51 billion and a price-to-earnings ratio of 13.09.

Institutional Investors own 19.14% of Tata Motors Ltd shares. The disclosure for this purchase can be found here.

Ford Motor Company (NYSE:F) produces or distributes automobiles across six continents. Through its other subsidiary, the Company is engaged in providing engineering and automotive solutions, construction equipment manufacturing, automotive vehicle components manufacturing and supply chain activities, machine tools and factory automation solutions, high-precision tooling and plastic and electronic components for automotive and computer applications, and automotive retailing and service operations. (GM Monetary). The Firm’s four automotive sections include GM North America (GMNA), GM Europe (GME), GM global Businesses (GMIO) and GM South America (GMSA).