Barclays Reaffirms “Buy” Rating for General Motors (GM)
Barclays restated their buy rating on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a report published on Tuesday. The brokerage currently has a $61.00 price objective on the auto manufacturer’s stock.
Other analysts also recently issued reports about the company. Jefferies Group increased their price objective on General Motors from $36.00 to $40.00 and gave the stock a hold rating in a research note on Monday, October 30th. Standpoint Research downgraded General Motors from a buy rating to a hold rating in a research note on Thursday, September 14th. Citigroup reissued a buy rating and issued a $53.00 price objective on shares of General Motors in a research note on Monday, October 2nd. Goldman Sachs Group downgraded General Motors from a neutral rating to a sell rating and lowered their price objective for the stock from $43.16 to $32.00 in a research note on Monday, October 30th. Finally, Guggenheim raised General Motors from a neutral rating to a buy rating and set a $37.00 price objective for the company in a research note on Monday, November 20th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of Hold and an average target price of $44.29.
General Motors (NYSE GM) traded down $0.12 during mid-day trading on Tuesday, reaching $44.07. The company had a trading volume of 14,900,000 shares, compared to its average volume of 12,800,000. General Motors has a fifty-two week low of $31.92 and a fifty-two week high of $46.76. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54. The firm has a market cap of $62,600.00, a P/E ratio of 9.54, a P/E/G ratio of 0.82 and a beta of 1.55.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to the consensus estimate of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The firm’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.72 EPS. equities analysts predict that General Motors will post 6.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Friday, December 8th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Thursday, December 7th. General Motors’s payout ratio is 32.90%.
In other General Motors news, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the completion of the transaction, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,459,480.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark L. Reuss sold 30,000 shares of the stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $43.09, for a total value of $1,292,700.00. Following the transaction, the insider now directly owns 103,052 shares of the company’s stock, valued at $4,440,510.68. The disclosure for this sale can be found here. Insiders have sold 552,298 shares of company stock valued at $24,408,137 over the last ninety days. 0.04% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Schroder Investment Management Group increased its holdings in shares of General Motors by 5.3% in the second quarter. Schroder Investment Management Group now owns 408,843 shares of the auto manufacturer’s stock worth $14,252,000 after buying an additional 20,461 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of General Motors during the 2nd quarter valued at about $1,419,000. Eaton Vance Management raised its position in shares of General Motors by 129.4% during the 2nd quarter. Eaton Vance Management now owns 114,620 shares of the auto manufacturer’s stock valued at $4,004,000 after buying an additional 64,653 shares in the last quarter. Martingale Asset Management L P purchased a new stake in shares of General Motors during the 2nd quarter valued at about $492,000. Finally, Stephens Inc. AR raised its position in shares of General Motors by 1.4% during the 2nd quarter. Stephens Inc. AR now owns 70,400 shares of the auto manufacturer’s stock valued at $2,459,000 after buying an additional 956 shares in the last quarter. 73.01% of the stock is owned by institutional investors and hedge funds.
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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