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MarketScreener Homepage  >  Equities  >  Nyse  >  Ford Motor Company    F

FORD MOTOR COMPANY

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Ford Motor : New Mustang Drags on the Street

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11/18/2019 | 04:18pm EST

By Paul Vigna

Mustang purists aren't very happy about their beloved pony car becoming an SUV, and an electric one at that. Investors don't seem all that impressed, either.

On Sunday in Los Angeles, Ford Motor Co. unveiled the Mustang Mach-E, an electric SUV that bears the name of and takes its styling cues from Ford's most famous car. It got a ton of attention in the automotive press and on social media, but the Street reviews so far have been, well, flat. Ford shares were down about 0.2% on Monday at $8.93.

The new electric Mustang might have been aimed more at potential Tesla buyers than Ford investors, but the latter could use a jolt, too. Since peaking above $16 in 2015, Ford shares have been steadily dropping. They hit a 10-year low of $7.81 in December 2018 and have recovered only marginally this year.

The sagging stock reflects the fact that Ford has struggled to get ahead of auto trends.

"Ford has taken a lot of heat for being behind on EVs," Edmunds analyst Jessica Caldwell said, "but the Mach-E could be just the thing the company needs to quiet the naysayers." The new Mustang, she said, is an attempt to offer buyers a sleek, electric SUV that also has that name of a product they already know.

Still, it is a pretty big gamble for Ford. They are messing with auto royalty. The Mustang is one of the truly iconic American cars. But the Mustang -- the muscle car, that is -- isn't a huge seller.

Through the third quarter, the company had sold just 55,000 Mustangs in 2019, down 10% from the same time last year. By comparison, the company sold 194,000 Escape SUVs, 120,000 Explorer SUVs and 62,000 Expedition SUVs.

The future isn't muscle cars; it is SUVs. That, of course, is a model that Ford practically invented on its own with the Explorer. Ford is betting that annoying the Mustang fan base will be worth it -- if it means taking sales from Tesla.

Write to Paul Vigna at paul.vigna@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY 0.83% 9.08 Delayed Quote.17.78%
TESLA INC. 2.63% 348.56 Delayed Quote.2.02%
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Financials (USD)
Sales 2019 146 B
EBIT 2019 5 567 M
Net income 2019 2 105 M
Finance 2019 7 233 M
Yield 2019 6,66%
P/E ratio 2019 17,6x
P/E ratio 2020 8,88x
EV / Sales2019 0,20x
EV / Sales2020 0,21x
Capitalization 35 724 M
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Technical analysis trends FORD MOTOR COMPANY
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 10,21  $
Last Close Price 9,01  $
Spread / Highest target 44,3%
Spread / Average Target 13,3%
Spread / Lowest Target -11,2%
EPS Revisions
Managers
NameTitle
James P. Hackett President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
Timothy Stone Chief Financial Officer
Jeff Lemmer Chief Information Officer & Vice President
Kenneth E. Washington Chief Technology Officer
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