Jefferies Group Weighs in on General Motors Co.’s Q3 2016 Earnings (GM)
General Motors Co. (NYSE:GM) – Equities researchers at Jefferies Group issued their Q3 2016 earnings estimates for shares of General Motors in a report issued on Friday. Jefferies Group analyst P. Houchois forecasts that the firm will earn $1.27 per share for the quarter. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for General Motors’ FY2017 earnings at $5.24 EPS.
General Motors (NYSE:GM) last issued its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.35. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The business earned $42.40 billion during the quarter, compared to analyst estimates of $38.81 billion. During the same quarter in the prior year, the business posted $1.29 EPS. General Motors’s revenue for the quarter was up 11.0% compared to the same quarter last year.
GM has been the topic of a number of other reports. Goldman Sachs Group Inc. lowered shares of General Motors to a “neutral” rating and dropped their price objective for the company from $37.00 to $29.00 in a report on Thursday, October 6th. Vetr lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $33.66 price objective on the stock. in a report on Monday, September 26th. Tigress Financial reissued a “buy” rating on shares of General Motors in a report on Wednesday, June 22nd. Nomura started coverage on shares of General Motors in a report on Tuesday, September 20th. They set a “neutral” rating and a $33.00 price objective on the stock. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $41.00 price objective (down from $43.50) on shares of General Motors in a report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $36.67.
Shares of General Motors (NYSE:GM) opened at 31.89 on Monday. The stock has a market cap of $49.81 billion, a price-to-earnings ratio of 4.08 and a beta of 1.65. General Motors has a 52 week low of $26.69 and a 52 week high of $36.88. The firm has a 50-day moving average price of $31.76 and a 200-day moving average price of $30.88.
Institutional investors have recently modified their holdings of the company. North Star Investment Management Corp. raised its position in shares of General Motors by 809.5% in the second quarter. North Star Investment Management Corp. now owns 4,602 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 4,096 shares in the last quarter. AllSquare Wealth Management LLC raised its position in shares of General Motors by 16.5% in the second quarter. AllSquare Wealth Management LLC now owns 4,600 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 650 shares in the last quarter. Chou Associates Management Inc. bought a new position in shares of General Motors during the second quarter valued at approximately $136,000. Mariner Wealth Advisors LLC raised its position in shares of General Motors by 0.3% in the first quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock valued at $206,000 after buying an additional 20 shares in the last quarter. Finally, FDx Advisors Inc. raised its position in shares of General Motors by 6.0% in the second quarter. FDx Advisors Inc. now owns 7,265 shares of the auto manufacturer’s stock valued at $206,000 after buying an additional 408 shares in the last quarter. Hedge funds and other institutional investors own 70.40% of the company’s stock.
In other news, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total value of $199,625.00. Following the transaction, the vice president now directly owns 27,477 shares in the company, valued at approximately $877,615.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jane L. Mendillo acquired 1,600 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the completion of the acquisition, the director now owns 1,600 shares in the company, valued at approximately $49,616. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were paid a $0.38 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.77%. General Motors’s dividend payout ratio (DPR) is 19.46%.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.
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