No Longer a Nine Dollar Stock
Congrats to those that listened to us when we were pimping Ford Motor Co. (F) at $9.09. Today is was one of the few stocks that advanced amongst a day of recovery after the destruction of Hurricane Sandy.
We talked up Ford in July and made it explicit when we said 'Ford could be the ideal pick for your IRA'. Ford Motor shares rallied 8% today and closed at $11.16. Since our recommendation on Ford the stock has bounced back 18.5%, which is huge for a stock that traded under $10 at the time.
Now that trading has resumed the Street rewarded Ford of its best Q3 performance -- ever. Pre-tax profits came in at almost $2.2 billion in Q3 2012. There are still concerns with its amazing CEO Alan Mulally, after all, how much longer will he stick around? Europe is a ongoing concern, how much longer will it take for a turnaround, and will it ever occur?
Here's what we do know:
In North America Ford had pre-tax revenue of over $2.3 billion. That marks a huge increase from the $1.55 billion earned in Q3 2011. As of September 30, Ford's North American operations had generated nearly $6.5 billion in pre-tax revenue for the year, which is bigger than its pre-tax figure for all of 2011. Ford credits these numbers to its strong product lineup and brisk sales.
Say what you will of Ford but keep in mind they never took a bailout and have kept the American dream alive. Despite its 18% increase in share price since our recommendation Ford still packs a 1.79% annual dividend yield.
Ford Motor Charts:
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