Auto maker Ford Motor Company (F) on Tuesday offered some positive commentary concerning sales performance in its most recent calendar month.
Ford Americas President Mark Fields spoke on CNBC’s “Squawk Box” program, noting that March sales were “the best in five years.” Fields said the uptick in performance was due to pent-up consumer demand, unseasonably warm weather, and increased popularity of fuel-efficient vehicles.
The 5% increase in sales during the month compares with the average Wall Street analyst estimate for a 5.5% uptick. The company is slated to officially announce its monthly sales figures at 9:30am EST.
Ford shares rose 10 cents, or +0.8%, in premarket trading Tuesday.
The Bottom Line
Shares of Ford Motor Company (F) have a 1.58% dividend yield, based on last night’s closing stock price of $12.62. The stock has technical support in the $10-$11 price area. If the shares can firm up, we see overhead resistance around the $13-$14 price levels.
Ford Motor Company (F) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.