General Motors Co. (GM) Given Sell Rating at Berenberg Bank
Berenberg Bank reissued their sell rating on shares of General Motors Co. (NYSE:GM) (TSE:GMM.U) in a research report released on Monday morning. The firm currently has a $29.00 price objective on the auto manufacturer’s stock.
A number of other research analysts have also recently weighed in on the company. Vetr upgraded General Motors from a sell rating to a hold rating and set a $33.71 target price on the stock in a report on Thursday, November 24th. reiterated a strong-buy rating on shares of General Motors in a report on Thursday, November 10th. Nomura set a $33.00 target price on General Motors and gave the company a hold rating in a report on Thursday, October 27th. Bank of America Corp. cut General Motors from a buy rating to a neutral rating and lifted their target price for the company from $26.69 to $31.60 in a report on Wednesday, October 26th. Finally, Craig Hallum cut General Motors from a buy rating to a hold rating in a report on Tuesday, October 25th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. General Motors currently has a consensus rating of Hold and a consensus price target of $36.06.
General Motors (NYSE:GM) opened at 34.05 on Monday. General Motors has a 12-month low of $26.69 and a 12-month high of $36.52. The stock has a market cap of $51.90 billion, a P/E ratio of 3.89 and a beta of 1.42. The stock has a 50 day moving average price of $32.29 and a 200-day moving average price of $31.18.
General Motors (NYSE:GM) last announced its quarterly earnings data 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 return on equity of 23.22% and a net margin of 8.58%. The business earned $42.80 billion during the quarter, compared to the consensus estimate of $39.11 billion. During the same quarter in the previous year, the business earned $1.50 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts expect that General Motors will post $6.01 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Shareholders of record on Wednesday, December 7th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Monday, December 5th. General Motors’s payout ratio is 17.41%.
Institutional investors have recently bought and sold shares of the company. TLP Group LLC acquired a new position in General Motors during the third quarter valued at approximately $125,000. North Star Investment Management Corp. increased its position in 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 during the last quarter. AllSquare Wealth Management LLC increased its position in 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 during the last quarter. Global X Management Co. LLC increased its position in General Motors by 313.7% in the third quarter. Global X Management Co. LLC now owns 4,257 shares of the auto manufacturer’s stock valued at $135,000 after buying an additional 3,228 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in General Motors during the third quarter valued at approximately $135,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.
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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