General Motors Company (NYSE:GM) (TSE:GMM.U) – Analysts at Seaport Global Securities lifted their Q4 2017 earnings per share estimates for General Motors in a research note issued on Tuesday, according to Zacks Investment Research. Seaport Global Securities analyst M. Ward now expects that the auto manufacturer will post earnings per share of $1.41 for the quarter, up from their prior estimate of $1.33. Seaport Global Securities also issued estimates for General Motors’ Q1 2018 earnings at $1.77 EPS, Q2 2018 earnings at $1.51 EPS and Q3 2018 earnings at $1.26 EPS.
Several other research firms also recently issued reports on GM. Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $46.48 to $43.00 in a report on Wednesday, October 25th. Royal Bank of Canada upped their price objective on General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 25th. Craig Hallum set a $45.00 price objective on General Motors and gave the stock a “hold” rating in a report on Wednesday, October 25th. BMO Capital Markets raised General Motors to a “market perform” rating and upped their price objective for the stock from $41.00 to $48.00 in a report on Wednesday, October 25th. Finally, Deutsche Bank AG upped their price objective on General Motors from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. General Motors has a consensus rating of “Hold” and a consensus target price of $43.61.
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General Motors (NYSE GM) opened at $42.66 on Thursday. General Motors has a 1-year low of $31.92 and a 1-year high of $46.76. 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 $59,813.39, a P/E ratio of 6.80, a PEG ratio of 0.73 and a beta of 1.56.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, topping the consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to the consensus estimate of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. General Motors’s revenue was down 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.72 EPS.
Several institutional investors have recently bought and sold shares of GM. Berkshire Hathaway Inc. boosted its stake in shares of General Motors by 20.0% during the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after buying an additional 10,000,000 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of General Motors by 290.9% during the 2nd quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock worth $357,944,000 after buying an additional 7,625,809 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of General Motors during the 3rd quarter worth about $202,352,000. Clearbridge Investments LLC boosted its stake in shares of General Motors by 26,374.8% during the 1st quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock worth $140,394,000 after buying an additional 3,955,426 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of General Motors by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock worth $3,262,952,000 after buying an additional 3,560,717 shares during the last quarter. Institutional investors own 74.65% of the company’s stock.
In related news, Director Jane L. Mendillo bought 1,440 shares of General Motors stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average cost of $34.86 per share, with a total value of $50,198.40. Following the purchase, the director now owns 4,560 shares in the company, valued at $158,961.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Daniel Ammann sold 50,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the transaction, the president now owns 185,953 shares of the company’s stock, valued at $7,066,214. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 979,266 shares of company stock valued at $40,917,634. Company insiders own 0.04% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s payout ratio is presently 77.95%.
About General Motors
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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