Ford (F - Free Report) took to the International Consumer Electronics Show stage in Las Vegas on Tuesday and has taken an early lead at this year’s showcase—in terms of tech that aims to reshape people’s lives—after it unveiled its plans for the “City of Tomorrow.”
Over 3,900 companies are set to present innovations at CES this year, from start-ups to global tech powers. To name a few, Panasonic (PCRFY - Free Report) , Nvidia (NVDA - Free Report) and Toyota (TM - Free Report) helped kick off CES 2018 with some major announcements on Monday.
But today, Ford’s President and CEO Jim Hackett wowed the crowd as he and a few other Ford executives touted the historic automaker’s vision of a connected, self-driving future (also read: 3 Stocks to Buy That Have Already Shined at CES).
‘City of Tomorrow’
On Tuesday, Ford noted that it hopes to help drive the revolution towards connected cities, where vehicles, pedestrians, traffic lights, and much more will be in constant communication in order to foster a safer and smoother life.
Ford noted that it believes “cellular vehicle-to-everything is the technology with the most potential to allow the cars and cities of the future to communicate quickly, safely and securely.” In order to start down this path towards the future, Ford announced a partnership with Qualcomm (QCOM - Free Report) .
What’s more, Ford announced that it partnered with mayors throughout the country, as well as Bloomberg Philanthropies, to create new technologies that help make moving around cities much easier.
But before the company can help create connected, futuristic cities that run more efficiently, Ford is dedicated to expanding its self-driving vehicle technology. Ford announced that it partnered with Argo AI in order to bolster its autonomous car tech. The company also joined forces with Domino’s Pizza (DPZ - Free Report) , Lyft, and Postmates in order help “validate” Ford’s self-driving business model.
Still, despite Ford’s forward-looking projects, many investors will want to know what the company offers them now.
There are currently over 700,000 connected Ford vehicles on the road. By next year, the company plans to make every vehicle it sells in the U.S. a connected one. This is one of the most vital and first steps towards Ford’s vision of connected cities and roadways of the future.
Ford also recently announced that the company sold almost 1.2 million vehicles in China in 2017. Although this figure is down slightly from 2016, the company is committed to increasing its sales in the world’s second-largest economy. “Looking forward, we recently announced Ford’s China 2025 plan to further accelerate our growth,” CEO of Ford China Jason Luo said in a statement.
Domestically, Ford’s now iconic F-Series was the best selling best selling pickup truck in the U.S. for the 41st year in a year. Ford also posted record SUV sales in 2017.
Currently, Ford is a Zacks Rank #2 (Buy) and sports an overall “A” VGM score. Ford also presents outstanding value for investors at the moment, which is supported by its “A” grade for Value in our Style Scores system.
Ford’s 0.35 P/S ratio marks a substantial discount compared to the “Automotive – Domestic” industry average of 1.13. The strong price to sales ratio helps demonstrate Ford’s ability to provide investors with a ton of bang for every investment dollar.
On top of that, the automotive power’s 1.58 P/B ratio comes in well below its industry’s average of 3.33. Furthermore, Ford is currently trading at just 8.67x earnings, which is lower than the industry average as well as the S&P 500.
Ford’s fourth-quarter earnings are projected to surge 46.67% to hit $0.44 per share, based on our current Zacks Consensus Estimates. The company’s Q4 revenues are expected to reach $37.15 billion, which would mark 3.19% year-over-year growth—which is not too bad for a company of its size and age. For the year, the Ford is projected to post sales of $143.96 billion.
The automotive giant, with its eyes set on the future, is scheduled to post its fourth-quarter and full-year results on Jan. 24.
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