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MarketScreener Homepage  >  Equities  >  Nyse  >  Ford Motor Company    F

FORD MOTOR COMPANY

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Ford, GM Stocks Rally on Electric-Vehicle Enthusiasm -- 2nd Update

01/21/2021 | 06:27pm EST

By Mike Colias

After years of shunning the U.S.'s two largest car companies, investors are finally starting to kick the tires on General Motors Co. and Ford Motor Co.

Ford shares have surged about 17% this week and have risen about 31% in January, which would mark their best month since July 2009. The move this week followed a Deutsche Bank report suggesting Ford could give a brighter-than-expected profit outlook for 2021 when it reports fourth-quarter earnings on Feb. 4.

GM's stock price also has jumped about 32% this month, to $55.08, a record closing price since shares began trading in 2010, following the auto giant's bankruptcy a year earlier. The jump has come amid enthusiasm over GM's electric-vehicle plans and Microsoft Corp.'s investment this week in Cruise, GM's majority-owned autonomous-car division.

They are the top two performing stocks in the S&P 500 so far in January, according to Dow Jones Market Data.

Investors have come to expect double-digit stock moves from Tesla Inc. and a bevy of electric-vehicle startups that have gone public over the past year. But until lately, Detroit's auto makers haven't benefited much from Wall Street's fixation with electric and driverless cars.

The stock performance of both GM and Ford has trailed that of the S&P 500 index in each of the last four years, despite periods of record profit for each company.

Meanwhile, Tesla shares rose more than eightfold in 2020 alone, helping to spark an influx of money into electric-vehicle stocks that have propelled valuations of some revenue-less companies beyond that of Ford and other global car makers.

Investors have been drawn to pure-play electric-vehicle companies and battery makers because of their heady growth prospects, analysts say. Electric cars accounted for about 3% of global vehicle sales in 2020, according to Bernstein Research, and analysts expect that share to grow while sales of gasoline- and diesel-powered vehicles decline.

But investors have tended to discount legacy auto makers -- despite deep engineering expertise and billions of dollars in electric-vehicle investment -- viewing them as stuck in a cyclical and capital-intensive industry that has historically produced single-digit profit margins.

The recent moves point to fresh investor interest in the technology bets GM and Ford are making, analysts say.

Investor enthusiasm over electric vehicles is expected to last well into this year, boosted by President Biden's support for electric charging stations and other proposals to speed the adoption of plug-in cars, Barclays analyst Brian Johnson said in a research note last month.

Investors last week cheered the formation of a new GM business unit to sell electric vans and services to commercial-delivery companies, including FedEx Corp. Barclays' Mr. Johnson said the business, called BrightDrop, has the potential to disrupt the market for commercial vehicles and delivery logistics.

Several analysts have said Ford's electric-vehicle plans are behind those of GM, which in November said it would boost spending on electric vehicles by about one-third, to $27 billion through mid-decade. That is far greater than the spending Ford has outlined, though analysts expect the company to disclose updated investment plans this spring.

Still, Ford's shares have gotten a lift following recently disclosed plans for its own electric cargo van and a plug-in version of the F-150 pickup truck, its biggest moneymaker. It recently began selling its first U.S. electric model in many years, the Mustang Mach-E sport-utility vehicle, which has drawn praise from car reviewers.

Ford also benefited from the electric-vehicle rally as a shareholder in startup Rivian Automotive LLC, which this week raised $2.65 billion, at a valuation of $27.6 billion. Ford invested $500 million in Rivian in spring 2019.

Write to Mike Colias at Mike.Colias@wsj.com

(END) Dow Jones Newswires

01-21-21 1826ET

Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -2.03% 159.24 Delayed Quote.8.81%
DEUTSCHE BANK AG -3.50% 10.214 Delayed Quote.14.14%
DJ INDUSTRIAL -1.50% 30932.37 Delayed Quote.2.60%
FEDEX CORPORATION 0.11% 254.5 Delayed Quote.-1.97%
FORD MOTOR COMPANY -0.51% 11.7 Delayed Quote.33.11%
GENERAL MOTORS COMPANY 1.44% 51.33 Delayed Quote.23.27%
MICROSOFT CORPORATION 1.48% 232.38 Delayed Quote.2.95%
NASDAQ 100 0.63% 12909.443133 Delayed Quote.-0.47%
NASDAQ COMP. 0.56% 13192.345407 Delayed Quote.2.36%
S&P 500 -0.48% 3811.15 Delayed Quote.1.95%
TESLA, INC. -0.99% 675.5 Delayed Quote.-4.28%
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Financials (USD)
Sales 2021 145 B - -
Net income 2021 3 917 M - -
Net cash 2021 6 528 M - -
P/E ratio 2021 12,5x
Yield 2021 0,43%
Capitalization 46 551 M 46 551 M -
EV / Sales 2021 0,28x
EV / Sales 2022 0,23x
Nbr of Employees 186 000
Free-Float 98,0%
Chart FORD MOTOR COMPANY
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Technical analysis trends FORD MOTOR COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 11,84 $
Last Close Price 11,70 $
Spread / Highest target 28,2%
Spread / Average Target 1,18%
Spread / Lowest Target -25,2%
EPS Revisions
Managers and Directors
NameTitle
James D. Farley President, Chief Executive Officer & Director
John T. Lawler Chief Financial Officer & Vice President
William Clay Ford Executive Chairman
Kenneth E. Washington Chief Technology Officer
Hau Thai-Tang Chief Operations & Product Platform Officer
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1st jan.Capitalization (M$)
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GENERAL MOTORS COMPANY23.27%73 962
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