Jefferies Group Weighs in on General Motors Co.’s Q3 2016 Earnings (GM)
General Motors Co. (NYSE:GM) – Research analysts at Jefferies Group issued their Q3 2016 EPS estimates for shares of General Motors in a research note issued on Friday. Jefferies Group analyst P. Houchois anticipates that the brokerage will earn $1.27 per share for the quarter. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for General Motors’ FY2017 earnings at $5.24 EPS.
Several other equities analysts have also recently commented on the company. Goldman Sachs Group Inc. cut General Motors to a “neutral” rating and reduced their target price for the stock from $37.00 to $29.00 in a research report on Thursday, October 6th. Vetr lowered General Motors from a “buy” rating to a “hold” rating and set a $33.44 price target for the company. in a research note on Tuesday, October 4th. Barclays PLC reaffirmed an “equal weight” rating and set a $66.00 price target on shares of General Motors in a research note on Friday, September 23rd. Citigroup Inc. reaffirmed a “buy” rating and set a $50.00 price target on shares of General Motors in a research note on Thursday, September 22nd. Finally, Nomura assumed coverage on General Motors in a research note on Tuesday, September 20th. They set a “neutral” rating and a $33.00 price target for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $36.67.
Shares of General Motors (NYSE:GM) opened at 31.89 on Monday. The company’s 50-day moving average price is $31.76 and its 200 day moving average price is $30.88. The firm has a market cap of $49.81 billion, a PE ratio of 4.08 and a beta of 1.65. General Motors has a 1-year low of $26.69 and a 1-year high of $36.88.
General Motors (NYSE:GM) last released its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, topping the consensus estimate of $1.51 by $0.35. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The business earned $42.40 billion during the quarter, compared to analysts’ expectations of $38.81 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Wednesday, September 7th. General Motors’s payout ratio is 19.46%.
In other General Motors news, Director Jane L. Mendillo purchased 1,600 shares of the stock in a transaction on Tuesday, August 2nd. The stock was acquired at an average price of $31.01 per share, with a total value of $49,616.00. Following the transaction, the director now directly owns 1,600 shares of the company’s stock, valued at approximately $49,616. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total value of $199,625.00. Following the transaction, the vice president now directly owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The disclosure for this sale can be found here. Company insiders own 0.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. raised its position in 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 worth $130,000 after buying an additional 4,096 shares during the last quarter. AllSquare Wealth Management LLC raised its position in General Motors by 16.5% in the second quarter. AllSquare Wealth Management LLC now owns 4,600 shares of the auto manufacturer’s stock worth $130,000 after buying an additional 650 shares during the last quarter. Chou Associates Management Inc. acquired a new position in General Motors during the second quarter worth approximately $136,000. Mariner Wealth Advisors LLC raised its position in General Motors by 0.3% in the first quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock worth $206,000 after buying an additional 20 shares during the last quarter. Finally, FDx Advisors Inc. raised its position in General Motors by 6.0% in the second quarter. FDx Advisors Inc. now owns 7,265 shares of the auto manufacturer’s stock worth $206,000 after buying an additional 408 shares during the last quarter. 70.40% 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 provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.
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