Current Wall Street estimates reflect a 56.9% decline from the year-ago quarter, when the company reported earnings of 65 cents per share.
The consensus estimate has dipped over the past three months from 41 cents. For the fiscal year, analysts are expecting earnings of $1.33 per share. Analysts look for revenue to decrease 9.4% year-over-year to $32.19 billion for the quarter, after being $35.53 billion a year ago. For the year, revenue is projected to roll in at $128.44 billion.
Revenue fell year-over-year in the first quarter, snapping the three-quarter streak of rising revenue. The 2% revenue decline in the most recent quarter can be compared with three quarters prior when it had been rising. It increased 6.6%in the fourth quarter of the last fiscal year, 10.6% in the third quarter of the last fiscal year and 1.3% in the second quarter of the last fiscal year.
The company has seen steady earnings for the last eight quarters, and for the last four, net income has increased year-over-year by an average of 1752.6%. The biggest gain came in the fourth quarter of the last fiscal year with a 7065.8% surge.
The majority of analysts (57.1%) rate Ford as a buy. This compares favorably to the analyst ratings of its nearest six competitors, which average 56.8% buys.
Earnings estimates provided by Zacks.
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