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Sunday, May 28, 2017 4:11:03 PM
Ford: A new driver
It hasn't been a great 12 months for Ford. The big automaker's stock is down by a double-digit percentage. Ford recently announced plans to cut around 1,400 jobs this year. And the company replaced its CEO. That makes for plenty of turmoil, but it also gives investors a reason to take a hard look at the stock.
New CEO Jim Hackett isn't inheriting as big of a mess as some of the headlines might indicate. Ford posted stellar sales and earnings in 2015 and really good numbers last year. The company's first-quarter performance was dismal, but one quarter doesn't mean a whole lot in the big scheme of things.
While it's too early to know how Hackett will do at the helm, I think his hiring gives investors a reason to buy. Hackett did a great job turning things around at SteelCase. He's also very familiar with Ford's business, serving on the board of directors since 2013.
Ford's dividend continues to look quite appealing. Its yield stands at 5.52%. The company is currently using less than 64% of earnings to fund the dividend program. With this solid dividend and a new, capable CEO in the driver's seat, Ford looks like a buy in my view.
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