Piper Jaffray Companies Analysts Reduce Earnings Estimates for General Motors (GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Analysts at Piper Jaffray Companies cut their Q4 2018 earnings estimates for shares of General Motors in a research report issued on Wednesday, October 31st. Piper Jaffray Companies analyst A. Potter now expects that the auto manufacturer will post earnings of $1.10 per share for the quarter, down from their prior forecast of $1.21. Piper Jaffray Companies has a “Buy” rating and a $51.00 price objective on the stock. Piper Jaffray Companies also issued estimates for General Motors’ Q4 2019 earnings at $1.42 EPS.

Several other equities research analysts also recently weighed in on the company. ValuEngine raised General Motors from a “sell” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada upped their target price on General Motors from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 10th. Buckingham Research decreased their target price on General Motors from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, July 26th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $39.00 target price on shares of General Motors in a research report on Friday, July 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $52.00 target price on shares of General Motors in a research report on Friday, July 20th. One equities research 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. General Motors currently has an average rating of “Buy” and a consensus target price of $46.85.

GM stock traded down $0.14 during trading on Friday, reaching $36.33. 403,654 shares of the stock traded hands, 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 current ratio of 0.88, a quick ratio of 0.74 and a debt-to-equity ratio of 1.81. The company has a market cap of $47.32 billion, a PE ratio of 5.50, a price-to-earnings-growth ratio of 0.69 and a beta of 1.55.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.62. General Motors had a positive return on equity of 23.39% and a negative net margin of 3.26%. The firm had revenue of $35.79 billion during the quarter, compared to the consensus estimate of $34.85 billion. During the same quarter in the previous year, the business earned $1.32 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year.

Several large investors have recently added to or reduced their stakes in GM. TRUE Private Wealth Advisors acquired a new position in shares of General Motors in the third quarter worth about $106,000. Qube Research & Technologies Ltd acquired a new position in shares of General Motors in the second quarter worth about $115,000. MUFG Americas Holdings Corp acquired a new position in shares of General Motors in the second quarter worth about $123,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of General Motors by 365.4% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,672 shares of the auto manufacturer’s stock worth $124,000 after acquiring an additional 2,883 shares in the last quarter. Finally, Kaizen Advisory LLC lifted its stake in shares of General Motors by 163.6% in the second quarter. Kaizen Advisory LLC now owns 3,298 shares of the auto manufacturer’s stock worth $130,000 after acquiring an additional 2,047 shares in the last quarter. Institutional investors and hedge funds own 73.84% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Friday, December 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Thursday, December 6th. General Motors’s dividend payout ratio (DPR) is 22.96%.

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.

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Earnings History and Estimates for General Motors (NYSE:GM)

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