General Motors Company (GM) Receives $39.21 Consensus Price Target from Analysts
General Motors Company (NYSE:GM) (TSE:GMM.U) has earned a consensus recommendation of “Buy” from the twenty-seven research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, twelve 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 target price among analysts that have issued ratings on the stock in the last year is $39.21.
Several equities analysts have recently issued reports on GM shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $44.00 price target on shares of General Motors in a research note on Wednesday, July 12th. Bank of America Corporation reaffirmed a “buy” rating and set a $40.00 price target (down previously from $44.00) on shares of General Motors in a research note on Friday, June 16th. BidaskClub raised General Motors from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $36.00 price target on shares of General Motors in a research note on Tuesday, June 13th. Finally, Zacks Investment Research raised General Motors from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Wednesday, June 21st.
Shares of General Motors (NYSE GM) traded up 2.24% during trading on Tuesday, hitting $37.36. 17,972,020 shares of the stock traded hands. The company has a market cap of $54.44 billion, a price-to-earnings ratio of 6.50 and a beta of 1.45. General Motors has a 52 week low of $30.13 and a 52 week high of $38.55. The firm’s 50-day moving average price is $35.58 and its 200-day moving average price is $35.06. General Motors also was the recipient of some unusual options trading on Thursday. Investors acquired 18,419 call options on the company. This represents an increase of 188% compared to the average volume of 6,405 call options.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 earnings per share. On average, equities research analysts anticipate that General Motors will post $6.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.07%. General Motors’s payout ratio is currently 26.48%.
In other General Motors news, VP Thomas S. Timko sold 17,255 shares of General Motors stock in a transaction on Friday, July 28th. The stock was sold at an average price of $35.79, for a total value of $617,556.45. Following the completion of the transaction, the vice president now directly owns 26,100 shares of the company’s stock, valued at approximately $934,119. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patricia F. Russo acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was bought at an average cost of $34.73 per share, with a total value of $347,300.00. Following the completion of the acquisition, the director now directly owns 12,300 shares in the company, valued at $427,179. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 330,673 shares of company stock valued at $11,590,746. 0.04% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in GM. State of Alaska Department of Revenue acquired a new position in shares of General Motors during the first quarter valued at about $103,000. Waldron LP raised its position in shares of General Motors by 13.6% in the first quarter. Waldron LP now owns 8,132 shares of the auto manufacturer’s stock valued at $287,000 after buying an additional 975 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of General Motors by 78.5% in the first quarter. Acadian Asset Management LLC now owns 407,149 shares of the auto manufacturer’s stock valued at $14,397,000 after buying an additional 179,085 shares during the last quarter. Baker Ellis Asset Management LLC raised its position in shares of General Motors by 16.9% in the first quarter. Baker Ellis Asset Management LLC now owns 11,053 shares of the auto manufacturer’s stock valued at $391,000 after buying an additional 1,600 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of General Motors by 12.9% in the first quarter. Janney Montgomery Scott LLC now owns 522,999 shares of the auto manufacturer’s stock valued at $18,493,000 after buying an additional 59,750 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.
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General Motors Company Profile
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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