General Motors Co. (GM) Coverage Initiated by Analysts at Macquarie
Other equities research analysts also recently issued research reports about the stock. Barclays PLC reissued an equal weight rating and set a $36.00 price objective on shares of General Motors in a research report on Thursday, August 11th. Seaport Global Securities initiated coverage on shares of General Motors in a research report on Tuesday, August 9th. They set a buy rating and a $42.00 price objective for the company. Vetr downgraded shares of General Motors from a buy rating to a hold rating and set a $32.84 price objective for the company. in a research report on Monday, November 7th. Jefferies Group initiated coverage on shares of General Motors in a research report on Tuesday, August 9th. They set a hold rating and a $33.00 price objective for the company. Finally, Morgan Stanley raised shares of General Motors from an equal weight rating to an overweight rating and increased their price objective for the stock from $29.00 to $37.00 in a research report on Monday, September 19th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $36.06.
Shares of General Motors (NYSE:GM) opened at 34.53 on Wednesday. The company has a 50 day moving average of $32.29 and a 200 day moving average of $31.18. The firm has a market cap of $52.64 billion, a price-to-earnings ratio of 3.94 and a beta of 1.42. General Motors has a 1-year low of $26.69 and a 1-year high of $36.52.
General Motors (NYSE:GM) last announced its quarterly earnings data on Tuesday, October 25th. The auto manufacturer reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $42.80 billion for the quarter, compared to analyst estimates of $39.11 billion. During the same period in the prior year, the business posted $1.50 earnings per share. General Motors’s revenue was up 10.3% compared to the same quarter last year. On average, equities analysts forecast that General Motors will post $6.01 earnings per share for the current fiscal year.
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The company 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. The ex-dividend date of this dividend is Monday, December 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.40%. General Motors’s dividend payout ratio (DPR) is currently 17.41%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. TLP Group LLC purchased a new position in shares of General Motors during the third quarter worth about $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 worth $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 worth $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 worth $135,000 after buying an additional 3,228 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in General Motors during the third quarter worth about $135,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.
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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