Shares of Ford (NYSE:F) is down in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2022. Earnings per share came in at $0.51, which missed analysts’ consensus estimate of $0.62 per share. Sales increased by 16.7% year-over-year, with revenue hitting $44 billion. This beat analysts’ expectations of $40.731 billion.
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Looking forward, management now expects EBIT for Fiscal Year 2023 to be in the range of $9 billion to $11 billion. In addition, the company expects to sell 15 million vehicles in the U.S. and about 13 million in Europe.
Overall, Wall Street has a consensus price target of $15.80 on Ford stock, implying 10.18% upside potential, as indicated by the graphic above.