General Motors Company (GM) Downgraded to “Buy” at BidaskClub
BidaskClub lowered shares of General Motors Company (NYSE:GM) (TSE:GMM.U) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.
GM has been the topic of a number of other research reports. Tigress Financial reiterated a strong-buy rating on shares of General Motors in a research note on Thursday, March 30th. Royal Bank Of Canada reiterated a hold rating and set a $37.00 price target on shares of General Motors in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of 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. Jefferies Group LLC reiterated a buy rating and set a $36.00 price target on shares of General Motors in a research note on Tuesday, June 13th. Finally, Piper Jaffray Companies reiterated a buy rating and set a $44.00 price target on shares of General Motors in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $39.38.
General Motors (NYSE:GM) traded down 0.47% during mid-day trading on Tuesday, hitting $35.77. 7,531,936 shares of the company were exchanged. General Motors has a 12-month low of $29.82 and a 12-month high of $38.55. The stock’s 50 day moving average is $35.16 and its 200-day moving average is $35.29. The company has a market cap of $52.12 billion, a price-to-earnings ratio of 6.22 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. During the same quarter in the previous year, the company earned $1.86 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that General Motors will post $6.13 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.25%. General Motors’s dividend payout ratio is currently 26.48%.
In other General Motors news, insider Stefan Jacoby sold 2,686 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $33.85, for a total transaction of $90,921.10. Following the completion of the sale, the insider now directly owns 80,379 shares of the company’s stock, valued at approximately $2,720,829.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jane L. Mendillo acquired 1,520 shares of the company’s stock in a transaction on Friday, May 26th. The shares were purchased at an average cost of $32.92 per share, with a total value of $50,038.40. Following the completion of the acquisition, the director now directly owns 3,120 shares in the company, valued at approximately $102,710.40. The disclosure for this purchase can be found here. Insiders have sold a total of 139,158 shares of company stock valued at $4,643,312 over the last three months. Company insiders own 0.04% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of General Motors during the first quarter valued at $103,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of General Motors during the first quarter valued at $106,000. FNY Managed Accounts LLC purchased a new stake in shares of General Motors during the first quarter valued at $107,000. SRS Capital Advisors Inc. boosted its stake in shares of General Motors by 171.9% in the first quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock valued at $182,000 after buying an additional 3,262 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its stake in shares of General Motors by 0.8% in the first quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock valued at $184,000 after buying an additional 42 shares in the last quarter. 73.52% of the stock is owned by hedge funds and other institutional investors.
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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