Why Ford Stock Is Trading Lower On Thursday
Portfolio Pulse from Dylan Berman
Ford Motor Company (NYSE:F) stock is trading lower after missing analyst EPS estimates for the 2024 fiscal year second quarter. The company reported adjusted EPS of 47 cents, below the expected 68 cents, but beat revenue estimates with $47.80 billion. Ford's revenue increased by 6% year-over-year. The company adjusted its full-year EBIT outlook for Ford Pro upwards and for Ford Blue downwards. Barclays maintained an Overweight rating but lowered the price target from $17 to $16.
July 25, 2024 | 2:40 pm
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Ford's stock is down 17.8% after missing Q2 EPS estimates but beating revenue expectations. The company adjusted its full-year EBIT outlook for Ford Pro upwards and for Ford Blue downwards. Barclays maintained an Overweight rating but lowered the price target to $16.
Ford's stock is reacting negatively to the missed EPS estimates despite beating revenue expectations. The downward adjustment in the full-year EBIT outlook for Ford Blue and the lowered price target by Barclays contribute to the negative sentiment.
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