General Motors Company (NYSE:GM) Receives $39.47 Average PT from Brokerages
Shares of General Motors Company (NYSE:GM) (TSE:GMM.U) have been given a consensus rating of “Buy” by the twenty-eight ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, ten have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $39.38.
GM has been the subject of several analyst reports. Nomura restated a “buy” rating and set a $47.00 price target on shares of General Motors in a research report on Tuesday, May 2nd. UBS AG restated a “buy” rating and issued a $40.00 price objective (up from $38.00) on shares of General Motors in a report on Friday, April 14th. Bank of America Corporation restated a “buy” rating and issued a $40.00 price objective (down from $44.00) on shares of General Motors in a report on Friday, June 16th. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $36.00 price objective on shares of General Motors in a report on Tuesday, June 13th.
Shares of General Motors (NYSE:GM) opened at 35.30 on Monday. General Motors has a 12 month low of $29.91 and a 12 month high of $38.55. The firm has a market capitalization of $51.44 billion, a price-to-earnings ratio of 6.14 and a beta of 1.45. The firm’s 50-day moving average price is $35.21 and its 200-day moving average price is $35.22.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter in the previous year, the firm posted $1.86 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that General Motors will post $6.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.31%. General Motors’s dividend payout ratio is currently 26.48%.
In other General Motors news, insider Charles K. Stevens III sold 16,000 shares of General Motors stock in a transaction on Friday, July 28th. The shares were sold at an average price of $35.80, for a total value of $572,800.00. Following the sale, the insider now directly owns 77,052 shares in the company, valued at approximately $2,758,461.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Patricia F. Russo purchased 10,000 shares of General Motors stock in a transaction on Tuesday, August 1st. The stock was bought at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the completion of the acquisition, the director now owns 12,300 shares in the company, valued at approximately $427,179. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 369,001 shares of company stock worth $12,827,204. 0.04% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Clearbridge Investments LLC increased its stake in General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock worth $140,394,000 after buying an additional 3,955,426 shares during the period. Prudential Financial Inc. increased its stake in General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock worth $214,576,000 after buying an additional 3,420,200 shares during the period. Vanguard Group Inc. increased its stake in General Motors by 3.2% in the first quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock worth $3,177,214,000 after buying an additional 2,744,821 shares during the period. Alliancebernstein L.P. increased its stake in General Motors by 87.0% in the first quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock worth $182,967,000 after buying an additional 2,407,818 shares during the period. Finally, State Street Corp increased its stake in General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock worth $2,136,563,000 after buying an additional 2,252,866 shares during the period. Hedge funds and other institutional investors own 76.02% of the company’s stock.
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About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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