Ford Motors Reports Strong Q2 Earnings Despite Challenges in Electric Vehicle Business

By Don Francis, Editor
July 30, 2023 6:42 AM UTC
Ford Motors Reports Strong Q2 Earnings Despite Challenges in Electric Vehicle Business

JP Morgan's Ryan Brinkman raised their price target on Ford Motor Co (NYSE: F) by 6.67% from $15.00 to $16.00 on 2023/07/28. The analyst maintained their Strong Buy rating on the stock.

In a recent report, Brinkman referred to Ford's second quarter 2023 earnings release as "strong" and adjusted JP Morgan's estimates and price target accordingly. The company's management also raised its guidance for the fiscal year 2023, according to the analyst.

However, Brinkman noted a "wrinkle" in Ford's earnings report. While its internal combustion and commercial vehicle businesses are generating substantial profits, the consumer-oriented electric vehicle business is experiencing larger losses.

The current analyst ratings for Ford indicate that 60.00% of top-rated analysts consider it a Strong Buy. There are no analysts calling the stock a Buy, while 20.00% view it as a Hold. Additionally, 20.00% of analysts either recommend or strongly recommend selling the stock.

Analysts predict that Ford's upcoming year will deliver earnings per share (EPS) of $2.07. If these predictions hold true, the next yearly EPS for Ford will increase by 187.50% on a year-over-year basis.

Since its last quarterly report, Ford's stock price has seen an impressive increase of 184.27%. Year-over-year, the stock is up by 4.09%. However, during this period, Ford has trailed behind the S&P 500, which has experienced a growth of 13.88%.

Ryan Brinkman, the JP Morgan analyst who recently raised the price target on Ford, is ranked in the bottom 3% out of 4,285 Wall Street analysts by WallStreetZen. Brinkman specializes in the Industrials and Consumer Cyclical sectors and has an average return of -8.03% with a 59.70% win rate.

Ford Motor Company, founded in 1903 and headquartered in Dearborn, MI, is a manufacturer of automobiles and commercial vehicles under the Ford brand. The company also produces luxury cars under the Lincoln brand.

Many investors find analysts' recommendations and price targets to be useful data points. However, different investors have different priorities and risk profiles. All investors should conduct their own investment due diligence before buying a stock.

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