Jun 16, 2011
Ford Motor Co. (NYSE:F) said Thursday that second-quarter pretax profits will miss analysts' estimates. They will also be lower than its first-quarter results. Last quarter, Ford reported a pretax income of 62 cents per share. Analysts are expecting a profit of 64 cents a share in the latest quarter according to The Wall Street Journal on Thursday.
Vice president and controller Robert Shanks said that the second quarter will be "very close to the first quarter, maybe a bit lower." Steel, oil, and rubber costs are all increasing as well as expansion expenses estimating to cost the company $2 billion more than last year.
Ford Motor has a potential upside of 51.4% based on a current price of $13.15 and an average consensus analyst price target of $19.91.
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