General Motors Co. (GM) Receives New Coverage from Analysts at Berenberg Bank
Berenberg Bank started coverage on shares of General Motors Co. (NYSE:GM) (TSE:GMM.U) in a research report released on Tuesday. The firm issued a sell rating and a $29.00 price objective on the auto manufacturer’s stock.
A number of other brokerages have also recently issued reports on GM. Vetr upgraded shares of General Motors from a buy rating to a strong-buy rating and set a $35.06 price target on the stock in a research note on Monday, September 12th. Goldman Sachs Group Inc. lowered General Motors to a neutral rating and decreased their target price for the stock from $37.00 to $29.00 in a research report on Thursday, October 6th. Citigroup Inc. reissued a buy rating and issued a $50.00 target price on shares of General Motors in a research report on Thursday, September 22nd. Craig Hallum lowered General Motors from a buy rating to a hold rating in a research report on Tuesday, October 25th. Finally, Nomura set a $33.00 target price on General Motors and gave the stock a hold rating in a research report on Thursday, October 27th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $36.01.
General Motors (NYSE:GM) traded up 0.251% during mid-day trading on Tuesday, reaching $33.895. 2,782,159 shares of the company were exchanged. The company has a market capitalization of $51.67 billion, a PE ratio of 3.870 and a beta of 1.42. General Motors has a one year low of $26.69 and a one year high of $36.88. The stock has a 50-day moving average price of $32.16 and a 200 day moving average price of $31.12.
General Motors (NYSE:GM) last announced its earnings results on Tuesday, October 25th. The auto manufacturer reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.28. General Motors had a net margin of 8.58% and a return on equity of 23.22%. The firm had revenue of $42.80 billion for the quarter, compared to analysts’ expectations of $39.11 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts predict that General Motors will post $6.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Wednesday, December 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Monday, December 5th. General Motors’s payout ratio is currently 17.41%.
A number of large investors have recently modified their holdings of the stock. Janus Capital Management LLC increased its stake in shares of General Motors by 38.3% in the second quarter. Janus Capital Management LLC now owns 21,555,499 shares of the auto manufacturer’s stock worth $610,020,000 after buying an additional 5,969,449 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of General Motors during the second quarter valued at $129,483,000. Artemis Investment Management LLP increased its stake in shares of General Motors by 126.9% in the second quarter. Artemis Investment Management LLP now owns 6,464,090 shares of the auto manufacturer’s stock valued at $182,903,000 after buying an additional 3,615,099 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of General Motors by 121.2% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,324,700 shares of the auto manufacturer’s stock valued at $150,689,000 after buying an additional 2,917,100 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of General Motors by 73.3% in the third quarter. TIAA CREF Investment Management LLC now owns 4,724,262 shares of the auto manufacturer’s stock valued at $150,090,000 after buying an additional 1,998,770 shares in the last quarter. 71.41% of the stock is currently owned by 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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