General Motors Co. (GM) Rating Reiterated by Credit Agricole SA
General Motors Co. (NYSE:GM)‘s stock had its “strong-buy” rating reiterated by analysts at Credit Agricole SA in a research note issued to investors on Thursday.
GM has been the topic of several other reports. Goldman Sachs Group Inc. lowered 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 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. Bank of America Corp. lowered General Motors from a “buy” rating to a “neutral” rating and raised their price objective for the company from $26.69 to $31.60 in a report on Wednesday, October 26th. Nomura set a $33.00 price objective on General Motors and gave the company a “hold” rating in a report on Thursday, October 27th. Finally, Citigroup Inc. reissued an “overweight” rating on shares of General Motors in a report on Friday, October 21st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.39.
Shares of General Motors (NYSE:GM) opened at 34.02 on Thursday. The stock has a market cap of $51.86 billion, a price-to-earnings ratio of 3.88 and a beta of 1.42. General Motors has a 12-month low of $26.69 and a 12-month high of $36.88. The company’s 50-day moving average price is $31.87 and its 200 day moving average price is $31.03.
General Motors (NYSE:GM) last announced its quarterly earnings results on Tuesday, October 25th. The auto manufacturer reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.28. The company earned $42.80 billion during the quarter, compared to analysts’ expectations of $39.11 billion. General Motors had a return on equity of 23.22% and a net margin of 8.58%. General Motors’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $1.50 earnings per share. On average, equities analysts predict that General Motors will post $6.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Wednesday, December 7th will be paid a dividend of $0.38 per share. The ex-dividend date is Monday, December 5th. This represents a $1.52 annualized dividend and a yield of 4.47%. General Motors’s payout ratio is 17.41%.
In related news, VP Thomas S. Timko sold 6,250 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the completion of the transaction, the vice president now directly owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC bought a new position in General Motors during the first quarter valued at approximately $56,200,000. Nippon Life Insurance Co. boosted its position in General Motors by 0.5% in the second quarter. Nippon Life Insurance Co. now owns 59,369 shares of the auto manufacturer’s stock valued at $1,680,000 after buying an additional 267 shares in the last quarter. Natixis boosted its position in General Motors by 576.0% in the first quarter. Natixis now owns 2,515,846 shares of the auto manufacturer’s stock valued at $79,073,000 after buying an additional 2,143,679 shares in the last quarter. Ngam Advisors L.P. boosted its position in General Motors by 3.1% in the second quarter. Ngam Advisors L.P. now owns 441,604 shares of the auto manufacturer’s stock valued at $12,497,000 after buying an additional 13,273 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its position in General Motors by 31.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,921,761 shares of the auto manufacturer’s stock valued at $110,986,000 after buying an additional 947,802 shares in the last quarter. 72.32% of the stock is owned by hedge funds and other institutional investors.
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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