Research Analysts’ Recent Ratings Updates for General Motors (GM)
Several analysts have recently updated their ratings and price targets for General Motors (NYSE: GM):
- 10/3/2017 – General Motors was upgraded by analysts at Bank of America Corporation from a “neutral” rating to a “buy” rating. They now have a $57.00 price target on the stock, up previously from $40.00. They wrote, “gets it.” The firm’s John Murphy upgraded General Motors’ stock rating from Neutral to Buy with a price target boosted from $40 to $57 (see Murphy’s track record here).General Motors management time is showing investors it is dedicated to pursuing expansion opportunities at an “accelerated pace” while simultaneously maintaining the “strength” of its core truck and global auto business, Murphy argued in his upgrade note. Specifically, the company’s ability to include autonomous electric vehicles into a ride-hailing fleet that is integrated with OnStar gives it a “unique competitive first mover position.”As General Motors develops and commercializes its technology over time, the company will at the very least be able to “defend its current market share in whatever direction the new mobility world morphs into,” the analyst said. But the more likely scenario would consist of the company offering a “more valuable mobility product” that will drive shareholder value higher.At this time, General Motors’ vision of its future implies that management now “deserves the benefit of the doubt” and investors should treat the stock accordingly, Murphy said.”We are acutely aware of the cyclical risks that represent a material overhang and are the biggest impediment to upside in the stock,” Murphy concluded. “Nonetheless, we think GM possesses the requisite pieces of the puzzle to capitalize on the opportunities presented by thechanging mobility landscape, while leveraging the strength of its core auto business.”
- 10/2/2017 – General Motors had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $53.00 price target on the stock.
- 10/2/2017 – General Motors had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $51.00 price target on the stock.
- 9/25/2017 – General Motors was upgraded by analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating. They now have a $51.00 price target on the stock, up previously from $36.00.
- 9/21/2017 – General Motors had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $43.00 price target on the stock, up previously from $40.00.
- 9/14/2017 – General Motors was downgraded by analysts at Standpoint Research from a “buy” rating to a “hold” rating.
- 9/12/2017 – General Motors had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $44.00 price target on the stock.
- 9/8/2017 – General Motors had its “neutral” rating reaffirmed by analysts at Buckingham Research. They now have a $33.00 price target on the stock.
- 8/24/2017 – General Motors had its “hold” rating reaffirmed by analysts at Buckingham Research.
- 8/17/2017 – General Motors was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
- 8/14/2017 – General Motors was given a new $31.00 price target on by analysts at Berenberg Bank. They now have a “sell” rating on the stock.
- 8/4/2017 – General Motors was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “General Motors reported better-than-expected second-quarter 2017 earnings. However, revenues missed the estimate during the quarter. Also, General Motors has underperformed the industry it belongs to in the last six months. Also, a high inventory level of passenger cars is a concern before it. However, General Motors, with its strength in crossover segment, is set to gain. Also, the company’s capital allocation strategy, initiatives to make its vehicles more advanced, safer and fuel efficient and focus on technology development are likely to benefit. Moreover, the company's focus on capital deployment is expected to boost shareholder returns. Also, the company is raising investment in emerging markets to boost global sales. It is trying to take advantage of emerging markets growth via product launches and joint ventures.”
Shares of General Motors Company (NYSE:GM) traded up 3.08% during mid-day trading on Tuesday, hitting $43.45. The stock had a trading volume of 30,840,922 shares. The firm’s 50-day moving average price is $37.52 and its 200 day moving average price is $35.28. General Motors Company has a 12-month low of $30.21 and a 12-month high of $43.70. The stock has a market cap of $63.32 billion, a price-to-earnings ratio of 7.55 and a beta of 1.44.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. General Motors’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 earnings per share. Equities analysts forecast that General Motors Company will post $6.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.50%. General Motors’s payout ratio is presently 26.48%.
In related news, insider Alan S. Batey sold 8,144 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $35.57, for a total value of $289,682.08. Following the completion of the sale, the insider now owns 66,748 shares in the company, valued at $2,374,226.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia F. Russo acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average price of $34.73 per share, with a total value of $347,300.00. Following the acquisition, the director now directly owns 12,300 shares of the company’s stock, valued at approximately $427,179. The disclosure for this purchase can be found here. Insiders sold a total of 639,947 shares of company stock worth $23,485,128 in the last ninety days. Insiders own 0.04% of the company’s stock.
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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