Vetr Inc. Downgrades General Motors Co. (GM) to Sell
General Motors Co. (NYSE:GM) (TSE:GMM.U) was downgraded by equities research analysts at Vetr from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday. They currently have a $32.64 price target on the auto manufacturer’s stock. Vetr‘s target price points to a potential downside of 3.60% from the company’s previous close.
Several other brokerages have also recently weighed in on GM. Citigroup Inc. reissued an “overweight” rating on shares of General Motors in a research note on Friday, October 21st. Nomura set a $33.00 price target on General Motors and gave the company a “hold” rating in a research note on Thursday, October 27th. reissued a “strong-buy” rating on shares of General Motors in a research note on Thursday, November 10th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $43.00 price target on shares of General Motors in a research note on Tuesday, July 26th. Finally, Seaport Global Securities began coverage on General Motors in a research note on Tuesday, August 9th. They issued a “buy” rating and a $42.00 price target for the company. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. General Motors has an average rating of “Hold” and an average target price of $36.01.
General Motors (NYSE:GM) opened at 33.86 on Tuesday. General Motors has a 12-month low of $26.69 and a 12-month high of $36.88. The company has a market cap of $51.61 billion, a PE ratio of 3.87 and a beta of 1.42. The stock’s 50 day moving average price is $32.20 and its 200 day moving average price is $31.14.
General Motors (NYSE:GM) last issued its earnings results on Tuesday, October 25th. The auto manufacturer reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.28. General Motors had a return on equity of 23.22% and a net margin of 8.58%. The business earned $42.80 billion during the quarter, compared to analysts’ expectations of $39.11 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that General Motors will post $6.01 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Stockholders of record on Wednesday, December 7th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Monday, December 5th. General Motors’s dividend payout ratio (DPR) is presently 17.41%.
Several institutional investors have recently made changes to their positions in GM. Kovitz Investment Group Partners LLC bought a new position in shares of General Motors during the first quarter valued at $56,200,000. Nippon Life Insurance Co. boosted its position in shares of 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 during the period. Foundry Partners LLC boosted its position in shares of General Motors by 9.2% in the third quarter. Foundry Partners LLC now owns 492,090 shares of the auto manufacturer’s stock valued at $15,634,000 after buying an additional 41,550 shares during the period. Sterling Capital Management LLC boosted its position in shares of General Motors by 8.5% in the second quarter. Sterling Capital Management LLC now owns 2,927,707 shares of the auto manufacturer’s stock valued at $82,854,000 after buying an additional 228,532 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its position in shares of 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 during the period. Institutional investors own 71.41% of the company’s stock.
General Motors Company Profile
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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