$1.73 EPS Expected for General Motors Company (NYSE:GM) This Quarter
Brokerages expect General Motors Company (NYSE:GM) (TSE:GMM.U) to post earnings per share of $1.73 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for General Motors’ earnings. The highest EPS estimate is $1.92 and the lowest is $1.58. General Motors posted earnings per share of $1.86 during the same quarter last year, which suggests a negative year-over-year growth rate of 7%. The company is expected to announce its next earnings results before the market opens on Tuesday, July 25th.
According to Zacks, analysts expect that General Motors will report full-year earnings of $6.15 per share for the current fiscal year, with EPS estimates ranging from $5.98 to $6.33. For the next year, analysts anticipate that the firm will post earnings of $6.00 per share, with EPS estimates ranging from $5.17 to $6.47. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for General Motors.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Friday, April 28th. The auto manufacturer reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.25. The firm had revenue of $41.20 billion for the quarter, compared to analysts’ expectations of $37.38 billion. General Motors had a return on equity of 22.82% and a net margin of 5.92%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 EPS.
A number of research firms have weighed in on GM. UBS AG reaffirmed a “buy” rating and issued a $40.00 price objective (up previously from $38.00) on shares of General Motors in a report on Friday, April 14th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $44.00 price objective on shares of General Motors in a report on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $37.00 price objective on shares of General Motors in a report on Friday. Vetr cut shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 price objective for the company. in a report on Monday. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $40.00 price objective on shares of General Motors in a report on Thursday, March 30th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $39.50.
In other news, insider John J. Quattrone sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $35.00, for a total value of $525,000.00. Following the transaction, the insider now directly owns 42,623 shares in the company, valued at approximately $1,491,805. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jane L. Mendillo acquired 1,520 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was bought at an average price of $32.92 per share, for a total transaction of $50,038.40. Following the completion of the acquisition, the director now owns 3,120 shares in the company, valued at approximately $102,710.40. The disclosure for this purchase can be found here. Insiders sold a total of 139,158 shares of company stock worth $4,643,312 over the last quarter. 0.04% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Pekin Singer Strauss Asset Management IL raised its position in shares of General Motors by 3.1% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 63,330 shares of the auto manufacturer’s stock valued at $2,206,000 after buying an additional 1,912 shares in the last quarter. IFC Holdings Incorporated FL raised its position in shares of General Motors by 83.3% in the first quarter. IFC Holdings Incorporated FL now owns 32,031 shares of the auto manufacturer’s stock valued at $1,141,000 after buying an additional 14,559 shares in the last quarter. Suntrust Banks Inc. raised its position in shares of General Motors by 29.5% in the first quarter. Suntrust Banks Inc. now owns 226,531 shares of the auto manufacturer’s stock valued at $8,008,000 after buying an additional 51,539 shares in the last quarter. Pegasus Partners Ltd. raised its position in shares of General Motors by 2.6% in the fourth quarter. Pegasus Partners Ltd. now owns 21,531 shares of the auto manufacturer’s stock valued at $750,000 after buying an additional 536 shares in the last quarter. Finally, Mosaic Family Wealth LLC raised its position in shares of General Motors by 9.9% in the first quarter. Mosaic Family Wealth LLC now owns 10,025 shares of the auto manufacturer’s stock valued at $354,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 73.50% of the company’s stock.
General Motors (GM) traded up 0.0902% during midday trading on Monday, hitting $36.3828. The stock had a trading volume of 2,749,989 shares. The firm has a 50-day moving average of $33.94 and a 200 day moving average of $35.33. The firm has a market capitalization of $54.91 billion, a P/E ratio of 5.6277 and a beta of 1.45. General Motors has a 52-week low of $29.82 and a 52-week high of $38.55.
The company also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were issued a $0.38 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $1.52 annualized dividend and a yield of 4.18%. General Motors’s payout ratio is 23.53%.
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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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