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Ford Motor Company (F) Surges 7.5%: Is This an Indication of Further Gains?
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Ford Motor Company (F - Free Report) shares soared 7.5% in the last trading session to close at $12.08. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.4% gain over the past four weeks.
Shares of the US legacy automaker jumped yesterday for the seventh consecutive trading session. While Ford’s fourth-quarter results are likely to get impacted due to UAW strike, investors are seemingly optimistic of the company’s long-term prospects thanks to robust BEV lineup, superior liquidity position and ambitious EV targets.
This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of -74.5%. Revenues are expected to be $37.23 billion, down 10.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Ford Motor Company, the consensus EPS estimate for the quarter has been revised 7.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on F going forward to see if this recent jump can turn into more strength down the road.
Ford Motor Company is part of the Zacks Automotive - Domestic industry. General Motors Company (GM - Free Report) , another stock in the same industry, closed the last trading session 6.7% higher at $36.25. GM has returned 20.8% in the past month.
For General Motors Company, the consensus EPS estimate for the upcoming report has changed +53.7% over the past month to $1.06. This represents a change of -50% from what the company reported a year ago. General Motors Company currently has a Zacks Rank of #3 (Hold).
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Ford Motor Company (F) Surges 7.5%: Is This an Indication of Further Gains?
Ford Motor Company (F - Free Report) shares soared 7.5% in the last trading session to close at $12.08. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.4% gain over the past four weeks.
Shares of the US legacy automaker jumped yesterday for the seventh consecutive trading session. While Ford’s fourth-quarter results are likely to get impacted due to UAW strike, investors are seemingly optimistic of the company’s long-term prospects thanks to robust BEV lineup, superior liquidity position and ambitious EV targets.
This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of -74.5%. Revenues are expected to be $37.23 billion, down 10.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Ford Motor Company, the consensus EPS estimate for the quarter has been revised 7.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on F going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Ford Motor Company is part of the Zacks Automotive - Domestic industry. General Motors Company (GM - Free Report) , another stock in the same industry, closed the last trading session 6.7% higher at $36.25. GM has returned 20.8% in the past month.
For General Motors Company, the consensus EPS estimate for the upcoming report has changed +53.7% over the past month to $1.06. This represents a change of -50% from what the company reported a year ago. General Motors Company currently has a Zacks Rank of #3 (Hold).