Nomura Begins Coverage on General Motors Co. (GM)
Nomura began coverage on shares of General Motors Co. (NYSE:GM) in a report published on Tuesday morning. The brokerage issued a neutral rating and a $33.00 price objective on the auto manufacturer’s stock.
Other analysts have also recently issued research reports about the company. Vetr upgraded General Motors from a buy rating to a strong-buy rating and set a $33.75 price target for the company in a research report on Thursday, June 9th. Citigroup Inc. restated a buy rating and issued a $50.00 price target on shares of General Motors in a research report on Thursday, June 9th. Royal Bank Of Canada upped their price target on General Motors from $32.00 to $34.00 and gave the stock a sector perform rating in a research report on Friday, July 22nd. Seaport Global Securities began coverage on General Motors in a research note on Tuesday, August 9th. They issued a buy rating and a $42.00 price objective for the company. Finally, Barclays PLC reaffirmed an equal weight rating and issued a $36.00 price objective on shares of General Motors in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $35.62.
General Motors (NYSE:GM) opened at 32.39 on Tuesday. General Motors has a 52 week low of $26.69 and a 52 week high of $36.88. The stock has a market capitalization of $50.59 billion, a PE ratio of 4.15 and a beta of 1.70. The firm has a 50-day moving average price of $31.53 and a 200-day moving average price of $30.82.
General Motors (NYSE:GM) last issued its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.35. The business earned $42.40 billion during the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 earnings per share. Equities research analysts predict that General Motors 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 4.69%. General Motors’s payout ratio is currently 19.46%.
In other General Motors news, VP Thomas S. Timko sold 6,250 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the sale, the vice president now owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jane L. Mendillo bought 1,600 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were bought at an average cost of $31.01 per share, for a total transaction of $49,616.00. Following the transaction, the director now directly owns 1,600 shares in the company, valued at approximately $49,616. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. North Star Investment Management Corp. boosted its stake in shares of General Motors by 809.5% in the second quarter. North Star Investment Management Corp. now owns 4,602 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 4,096 shares during the period. AllSquare Wealth Management LLC boosted its stake in shares of General Motors by 16.5% in the second quarter. AllSquare Wealth Management LLC now owns 4,600 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 650 shares during the period. Chou Associates Management Inc. bought a new stake in shares of General Motors during the second quarter valued at about $136,000. Peapack Gladstone Financial Corp boosted its stake in shares of General Motors by 3.6% in the first quarter. Peapack Gladstone Financial Corp now owns 6,402 shares of the auto manufacturer’s stock valued at $201,000 after buying an additional 225 shares during the period. Finally, Mariner Wealth Advisors LLC boosted its stake in shares of General Motors by 0.3% in the first quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock valued at $206,000 after buying an additional 20 shares during the period. 70.40% of the stock is currently owned by institutional investors and hedge funds.
About General Motors
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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