General Motors Co. (GM) Updates FY16 Earnings Guidance
General Motors Co. (NYSE:GM) issued an update on its FY16 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.50-6.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.83.
Shares of General Motors Co. (NYSE:GM) opened at 32.11 on Thursday. The firm’s 50-day moving average is $31.47 and its 200-day moving average is $30.81. General Motors Co. has a one year low of $26.69 and a one year high of $36.88. The company has a market cap of $50.15 billion, a price-to-earnings ratio of 4.11 and a beta of 1.70.
General Motors (NYSE:GM) last released its quarterly earnings data on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, topping the consensus estimate of $1.51 by $0.35. The company had revenue of $42.40 billion for the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. General Motors’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. Analysts expect that General Motors Co. will post $5.83 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.73%. General Motors’s payout ratio is currently 19.46%.
GM has been the topic of several research reports. Vetr upgraded General Motors from a hold rating to a buy rating and set a $32.30 price objective on the stock in a report on Wednesday, June 1st. Robert W. Baird reaffirmed a neutral rating and set a $25.00 target price on shares of General Motors in a research report on Monday, June 20th. Citigroup Inc. reaffirmed a buy rating and set a $50.00 target price on shares of General Motors in a research report on Thursday, July 21st. Zacks Investment Research cut General Motors from a buy rating to a hold rating in a research report on Thursday, June 23rd. Finally, Goldman Sachs Group Inc. set a $36.00 target price on General Motors and gave the company a neutral rating in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $35.62.
In related news, VP Thomas S. Timko sold 6,250 shares of General Motors stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total value of $199,625.00. Following the sale, the vice president now directly owns 27,477 shares in the company, valued at approximately $877,615.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jane L. Mendillo acquired 1,600 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the completion of the acquisition, the director now owns 1,600 shares in the company, valued at approximately $49,616. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the company. Chou Associates Management Inc. purchased a new stake in General Motors during the second quarter valued at about $136,000. Frontier Wealth Management LLC boosted its stake in General Motors by 20.1% in the second quarter. Frontier Wealth Management LLC now owns 8,974 shares of the auto manufacturer’s stock valued at $254,000 after buying an additional 1,500 shares during the last quarter. WFG Advisors LP boosted its stake in General Motors by 0.5% in the second quarter. WFG Advisors LP now owns 9,031 shares of the auto manufacturer’s stock valued at $256,000 after buying an additional 48 shares during the last quarter. TFS Capital LLC purchased a new stake in General Motors during the second quarter valued at about $267,000. Finally, Sawtooth Asset Management Inc. boosted its stake in General Motors by 40.2% in the second quarter. Sawtooth Asset Management Inc. now owns 10,240 shares of the auto manufacturer’s stock valued at $290,000 after buying an additional 2,937 shares during the last quarter. Institutional investors own 70.40% of the company’s stock.
General Motors Company Profile
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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