General Motors (NYSE:GM) (TSE:GMM.U) had its price objective upped by Citigroup from $67.00 to $68.00 in a research report report published on Friday morning, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the auto manufacturer’s stock.
GM has been the topic of a number of other reports. Royal Bank of Canada raised their target price on shares of General Motors to $52.00 and gave the stock an outperform rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. Nomura set a $42.00 target price on shares of General Motors and gave the stock a hold rating in a research note on Thursday, May 2nd. Zacks Investment Research lowered shares of General Motors from a strong-buy rating to a hold rating in a research note on Wednesday, April 10th. ValuEngine upgraded shares of General Motors from a sell rating to a hold rating in a report on Tuesday, July 23rd. Finally, Credit Suisse Group started coverage on shares of General Motors in a report on Wednesday, June 26th. They set an outperform rating and a $48.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $47.58.
GM traded down $0.37 during trading on Friday, reaching $39.78. The company’s stock had a trading volume of 9,144,768 shares, compared to its average volume of 6,473,063. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. The stock has a fifty day simple moving average of $38.64. General Motors has a 1 year low of $30.56 and a 1 year high of $41.90. The company has a market capitalization of $56.42 billion, a P/E ratio of 6.08, a price-to-earnings-growth ratio of 0.69 and a beta of 1.39.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.21. General Motors had a net margin of 6.26% and a return on equity of 22.67%. The business had revenue of $36.06 billion for the quarter, compared to analyst estimates of $36.03 billion. During the same period last year, the company posted $1.81 EPS. The business’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts expect that General Motors will post 6.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.82%. General Motors’s dividend payout ratio is currently 23.24%.
In other news, Director Wesley G. Bush purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average price of $38.58 per share, for a total transaction of $385,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.51% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in General Motors by 83.3% in the 1st quarter. FMR LLC now owns 8,016,745 shares of the auto manufacturer’s stock valued at $297,421,000 after purchasing an additional 3,643,659 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new stake in General Motors in the 1st quarter valued at approximately $657,000. Bank of Edwardsville acquired a new stake in General Motors in the 1st quarter valued at approximately $468,000. WealthPLAN Partners LLC increased its holdings in General Motors by 9.6% in the 1st quarter. WealthPLAN Partners LLC now owns 12,598 shares of the auto manufacturer’s stock valued at $471,000 after purchasing an additional 1,104 shares during the last quarter. Finally, South Texas Money Management Ltd. increased its holdings in General Motors by 14.2% in the 1st quarter. South Texas Money Management Ltd. now owns 594,298 shares of the auto manufacturer’s stock valued at $22,048,000 after purchasing an additional 74,056 shares during the last quarter. Hedge funds and other institutional investors own 76.65% of the company’s stock.
General Motors Company Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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