Wall Street Strategies Publishes Coverage Update and Earnings Assessment Report for Ford Motor Company (F)

According to a report from Wall Street Strategies, Ford Motor Company's F revenues did not meet expectations. Ford Motor Company's earnings also fell short.

Wall Street Strategies commented that “The Company reported that automotive revenues improved 7.8% to $30.3 billion from $28.1 billion year over year, with Asia, Pacific, and Africa and North America improving 30.9% and 10.3%, respectively, compared to the fourth quarter of 2009. The results were partially offset by the 1.2% decline in Europe. Production around the world increased 2.1% led by the 43.0% increase in Asia Pacific and a 3.3% increase in North America. European production declined 13.1% year over year. We had forecasted revenue of $34.46 billion as we expected slightly stronger figures in North America and less negative production figures out of Europe.”

Also reported was “The Company reported that excluding a $960 million charge related to debt conversion (into equity), earnings fell to $0.30 per share from $0.44 per share year over year…our $0.45 per share forecast well overshot the actual results. The Street had modeled for earnings of $0.48 per share.”

Ford Motor Company has a $22 PT and a Buy rating.

Ford Motor Company is currently selling at $14.39.