General Motors Company (GM) Receives Buy Rating from Citigroup Inc.
Citigroup Inc. restated their buy rating on shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in a research note issued to investors on Monday. They currently have a $53.00 price target on the auto manufacturer’s stock.
A number of other analysts have also commented on GM. Bank of America Corporation reaffirmed a buy rating and set a $40.00 price objective (down previously from $44.00) on shares of General Motors in a research note on Friday, June 16th. BidaskClub raised General Motors from a hold rating to a buy rating in a research note on Wednesday, June 14th. Jefferies Group LLC reaffirmed a buy rating and set a $36.00 price objective on shares of General Motors in a research note on Tuesday, June 13th. Piper Jaffray Companies reaffirmed a buy rating and set a $44.00 price objective on shares of General Motors in a research note on Wednesday, July 12th. Finally, Vetr raised General Motors from a hold rating to a buy rating and set a $37.42 price objective on the stock in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. General Motors presently has a consensus rating of Buy and an average target price of $40.79.
Shares of General Motors (NYSE:GM) opened at 43.85 on Monday. General Motors has a 52 week low of $30.21 and a 52 week high of $44.08. The firm’s 50-day moving average is $38.21 and its 200 day moving average is $35.46. The firm has a market cap of $63.90 billion, a PE ratio of 7.62 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The business had revenue of $36.98 billion during the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter last year, the business posted $1.86 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts forecast 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 was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.
In related news, Director Jane L. Mendillo bought 1,440 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $34.86 per share, for a total transaction of $50,198.40. Following the acquisition, the director now owns 4,560 shares in the company, valued at approximately $158,961.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas S. Timko sold 17,255 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $35.79, for a total value of $617,556.45. Following the sale, the vice president now owns 26,100 shares in the company, valued at $934,119. The disclosure for this sale can be found here. Insiders sold a total of 842,901 shares of company stock worth $31,928,733 over the last ninety days. Corporate insiders own 0.04% of the company’s stock.
Several large investors have recently made changes to their positions in GM. YorkBridge Wealth Partners LLC raised its holdings in shares of General Motors by 43.5% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after buying an additional 860 shares during the period. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of General Motors during the 1st quarter valued at about $106,000. FNY Managed Accounts LLC purchased a new stake in shares of General Motors during the 1st quarter valued at about $107,000. State of Alaska Department of Revenue raised its holdings in shares of General Motors by 10.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock valued at $113,000 after buying an additional 310 shares during the period. Finally, Ffcm LLC raised its holdings in shares of General Motors by 2,008.1% during the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock valued at $120,000 after buying an additional 3,213 shares during the period. Institutional investors and hedge funds own 72.21% of the company’s stock.
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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