Contact Me By Email

Atlanta, GA Weather from Weather Underground

Wednesday, July 20, 2005

Ford Still Pressured By High Costs, Lower Pricing - Forbes.com

Ford Still Pressured By High Costs, Lower Pricing - Forbes.comMarket Scan
Ford Still Pressured By High Costs, Lower Pricing
07.20.05, 9:09 AM ET

Standard & Poor's Equity Research reiterated a "sell" opinion and $9 target price on Ford Motor, saying second-half income is likely to suffer from higher raw material costs and lower pricing. "We see lower vehicle sale volume for the year, even with new products coming to market," S&P Equity Research said.
The research firm lowered the 2005 earnings-per-share estimate on Ford (nyse: F - news - people ) by a penny to $1.08. It also initiated a 2006 earnings estimate of 99 cents per share. For the second quarter, Ford earned 47 cents per share. "While above our 31 cent estimate, we are disappointed by the quality of the [earnings], since we estimate that interest on tax refunds added nearly 32 cents to earnings per share," the research firm said.

No comments:

Post a Comment