Market Update: Ford Motor Company (NYSE:F) – Ford and Google: Teaming Up to Build the Car of the Future?

[at Barrons.com] – Reports are circulating that Ford Motor (F) and Alphabet (GOOGL), the company formerly known as Google, are teaming up to make the car of the future. Citigroup’s Itay Michaeli offers his two cents: Media outlets (Yahoo! News, Automotive News) are reporting that Google (covered by Mark May) and Ford are in talks to create a JV where Ford would build Google’s next-generation autonomous vehicles. Read more on this. Ford Motor Co. (F) , currently valued at $56.20B, began trading this morning at $13.91. Looking at the equity, the company’s one day range is $13.90 to $14.17 with a trailing 52-week range being $10.44 to $16.74. F shares are currently priced at 8.48x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 12.09x earnings multiple. And for passive income investors, the company pays shareholders $0.60 per share annually in dividends, yielding 4.35%. According to a consensus of 17 analysts, the earnings estimate of $0.47 per share would be $0.21 better than the year-ago quarter and a $0.05 sequential decrease. Investors should also note that the full-year EPS estimate of $1.62 is a $0.46 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $36.31 Billion. If realized, that would be a 7.43% increase over the year-ago quarter. More recently, Goldman upgraded F from Neutral to Buy (Jun 24, 2015). Previously, Stifel upgraded F from Hold to Buy. When considering if the stock is under or overvalued, the average price target is $17.59, which is 26.46% above where the stock opened this morning. See more in (NYSE:F) Similar Articles: Company Update: Ford Motor Company (NYSE:F) – Ford provides clues to future vehicle plans in UAW pact Company Update: Ford Motor Company (NYSE:F) – Media Advisory: Details of Ford Motor Company’s August 2015 U.S. Sales Conference Call Company Update: Ford Motor Company (NYSE:F) – Details of Ford Motor Company’s July 28 Briefing on 2015 Second Quarter Results