General Motors Co. (GM) Now Covered by Analysts at Macquarie
Macquarie assumed coverage on shares of General Motors Co. (NYSE:GM) (TSE:GMM.U) in a research note issued on Wednesday, The Fly reports. The firm set an “outperform” rating on the auto manufacturer’s stock.
Several other research firms have also recently commented on GM. Berenberg Bank reaffirmed a “sell” rating and set a $29.00 target price on shares of General Motors in a research note on Monday. Vetr cut General Motors from a “buy” rating to a “hold” rating and set a $33.24 price objective for the company. in a research note on Monday, November 14th. Craig Hallum cut General Motors from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. reissued a “strong-buy” rating on shares of General Motors in a research note on Thursday, November 10th. Finally, Goldman Sachs Group Inc. cut General Motors to a “neutral” rating and reduced their price objective for the company from $37.00 to $29.00 in a research note on Thursday, October 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. General Motors currently has a consensus rating of “Hold” and a consensus price target of $36.06.
Shares of General Motors (NYSE:GM) traded down 0.12% during midday trading on Wednesday, hitting $34.53. The stock had a trading volume of 15,681,697 shares. General Motors has a 52 week low of $26.69 and a 52 week high of $36.52. The firm has a market cap of $52.64 billion, a P/E ratio of 3.94 and a beta of 1.42. The company’s 50 day moving average is $32.36 and its 200 day moving average is $31.21.
General Motors (NYSE:GM) last released its earnings results on Tuesday, October 25th. The auto manufacturer reported $1.72 EPS for the quarter, topping the consensus estimate of $1.44 by $0.28. General Motors had a return on equity of 23.22% and a net margin of 8.58%. The business earned $42.80 billion during the quarter, compared to analysts’ expectations of $39.11 billion. During the same quarter last year, the firm posted $1.50 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that General Motors will post $6.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Stockholders of record on Wednesday, December 7th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Monday, December 5th. General Motors’s dividend payout ratio (DPR) is presently 17.41%.
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Several institutional investors have recently made changes to their positions in GM. TLP Group LLC bought a new position in shares of General Motors during the third quarter valued at $125,000. North Star Investment Management Corp. boosted its position 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 position 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. Global X Management Co. LLC boosted its position in shares of General Motors by 313.7% in the third quarter. Global X Management Co. LLC now owns 4,257 shares of the auto manufacturer’s stock valued at $135,000 after buying an additional 3,228 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in shares of General Motors during the third quarter valued at $135,000. Institutional investors own 70.71% of the company’s stock.
About General Motors
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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