Bank of America reissued their buy rating on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research note published on Wednesday, September 12th. The firm currently has a $60.00 price target on the auto manufacturer’s stock.
Other equities research analysts have also recently issued research reports about the stock. Citigroup dropped their target price on shares of General Motors to $60.00 and set a buy rating for the company in a research report on Thursday, July 26th. Piper Jaffray Companies set a $51.00 target price on shares of General Motors and gave the stock a buy rating in a research report on Wednesday, July 25th. Guggenheim reiterated a buy rating and set a $52.00 target price on shares of General Motors in a research report on Friday, July 20th. Morgan Stanley set a $48.00 target price on shares of General Motors and gave the stock a buy rating in a research report on Thursday, May 24th. Finally, ValuEngine upgraded shares of General Motors from a hold rating to a buy rating in a research report on Friday, June 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $46.98.
Shares of GM stock traded up $0.13 during mid-day trading on Wednesday, reaching $34.25. The company’s stock had a trading volume of 8,406,000 shares, compared to its average volume of 12,232,084. General Motors has a 1-year low of $33.20 and a 1-year high of $46.76. The stock has a market cap of $47.50 billion, a price-to-earnings ratio of 5.18, a P/E/G ratio of 0.69 and a beta of 1.55. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.74 and a current ratio of 0.88.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.03. General Motors had a negative net margin of 3.26% and a positive return on equity of 23.39%. The company had revenue of $36.80 billion during the quarter, compared to analysts’ expectations of $36.62 billion. During the same quarter in the prior year, the company posted $1.89 EPS. The business’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts predict that General Motors will post 5.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Thursday, September 6th. General Motors’s payout ratio is presently 22.96%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Ruffer LLP bought a new position in shares of General Motors in the 2nd quarter valued at about $120,141,000. Franklin Resources Inc. boosted its stake in shares of General Motors by 13.7% in the 1st quarter. Franklin Resources Inc. now owns 24,874,605 shares of the auto manufacturer’s stock valued at $903,943,000 after purchasing an additional 3,005,964 shares during the last quarter. Natixis boosted its stake in shares of General Motors by 780.3% in the 2nd quarter. Natixis now owns 3,170,930 shares of the auto manufacturer’s stock valued at $124,935,000 after purchasing an additional 2,810,730 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of General Motors by 20.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock valued at $565,624,000 after purchasing an additional 2,394,922 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in shares of General Motors by 232.3% in the 1st quarter. OppenheimerFunds Inc. now owns 2,707,589 shares of the auto manufacturer’s stock valued at $98,394,000 after purchasing an additional 1,892,666 shares during the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.
General Motors Company Profile
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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