Morgan Stanley Reiterates “Hold” Rating for General Motors (GM)
General Motors (NYSE:GM) (TSE:GMM.U)‘s stock had its “hold” rating reaffirmed by Morgan Stanley in a note issued to investors on Tuesday. They currently have a $43.00 price objective on the auto manufacturer’s stock. Morgan Stanley’s target price would indicate a potential downside of 4.27% from the stock’s previous close.
Several other research analysts have also recently issued reports on GM. BidaskClub cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Vetr lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 target price for the company. in a research note on Monday, July 31st. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Berenberg Bank set a $31.00 target price on shares of General Motors and gave the company a “sell” rating in a research note on Monday, August 14th. Finally, Buckingham Research reissued a “hold” rating on shares of General Motors in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. General Motors has an average rating of “Hold” and an average target price of $43.61.
General Motors (NYSE GM) traded up $0.75 during trading on Tuesday, hitting $44.92. 15,933,301 shares of the stock traded hands, compared to its average volume of 13,347,207. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $63,800.00, a PE ratio of 7.18, a PEG ratio of 0.77 and a beta of 1.56. General Motors has a twelve month low of $31.92 and a twelve month high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion during the quarter, compared to analysts’ expectations of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The business’s revenue was down 16.6% on a year-over-year basis. During the same period last year, the firm posted $1.72 earnings per share. equities research analysts forecast that General Motors will post 6.24 earnings per share for the current year.
In other General Motors news, EVP Nysschen Carel J. De sold 123,645 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $44.59, for a total value of $5,513,330.55. Following the completion of the sale, the executive vice president now owns 150,484 shares in the company, valued at approximately $6,710,081.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Thomas S. Timko sold 44,791 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the completion of the sale, the chief accounting officer now owns 66,838 shares of the company’s stock, valued at approximately $2,971,617.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 971,122 shares of company stock valued at $40,627,952. Insiders own 0.04% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new position in shares of General Motors during the 3rd quarter worth $701,000. GSA Capital Partners LLP acquired a new position in shares of General Motors during the 3rd quarter worth $838,000. Gofen & Glossberg LLC IL acquired a new position in shares of General Motors during the 3rd quarter worth $438,000. Moors & Cabot Inc. increased its stake in shares of General Motors by 9.4% during the 3rd quarter. Moors & Cabot Inc. now owns 51,618 shares of the auto manufacturer’s stock worth $2,077,000 after purchasing an additional 4,414 shares during the last quarter. Finally, Yellowstone Partners LLC acquired a new position in shares of General Motors during the 3rd quarter worth $373,000. Institutional investors own 73.04% of the company’s stock.
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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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