General Motors (GM) Posts Quarterly Earnings Results

General Motors (NYSE:GM) (TSE:GMM.U) issued its earnings results on Wednesday. The auto manufacturer reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.62, MarketWatch Earnings reports. The firm had revenue of $35.79 billion for the quarter, compared to analyst estimates of $34.85 billion. General Motors had a positive return on equity of 23.39% and a negative net margin of 3.26%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 earnings per share. General Motors updated its FY18 guidance to $5.80-6.20 EPS.

General Motors stock traded up $0.62 during midday trading on Friday, hitting $37.09. 208,179 shares of the company’s stock were exchanged, compared to its average volume of 15,761,640. General Motors has a 52-week low of $30.56 and a 52-week high of $45.52. The company has a quick ratio of 0.74, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The stock has a market cap of $47.32 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.69 and a beta of 1.55.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Friday, December 7th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.10%. The ex-dividend date is Thursday, December 6th. General Motors’s payout ratio is 22.96%.

Several analysts have issued reports on the company. ValuEngine upgraded General Motors from a “sell” rating to a “hold” rating in a research note on Thursday. Piper Jaffray Companies set a $51.00 target price on General Motors and gave the company a “buy” rating in a research note on Wednesday, July 25th. Royal Bank of Canada boosted their target price on General Motors from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, July 10th. Buckingham Research lowered their target price on General Motors from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, July 26th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $39.00 price objective on shares of General Motors in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $46.85.

General Motors Company Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

Further Reading: Call Option

Earnings History for General Motors (NYSE:GM)

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