Bank of America reiterated their buy rating on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research report report published on Wednesday, September 12th. The brokerage currently has a $60.00 price objective on the auto manufacturer’s stock.
A number of other research firms have also recently commented on GM. JPMorgan Chase & Co. restated an overweight rating and issued a $58.00 price target on shares of General Motors in a report on Friday, June 1st. Evercore ISI upgraded shares of General Motors from an in-line rating to an outperform rating and upped their price target for the stock from $47.00 to $50.00 in a report on Thursday, May 31st. Guggenheim restated a buy rating and issued a $52.00 price target on shares of General Motors in a report on Friday, July 20th. Piper Jaffray Companies set a $57.00 price target on shares of General Motors and gave the stock an overweight rating in a report on Tuesday, May 15th. Finally, Zacks Investment Research cut shares of General Motors from a buy rating to a hold rating in a report on Tuesday, June 19th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. General Motors has an average rating of Hold and an average price target of $46.98.
Shares of GM traded down $0.13 during midday trading on Wednesday, hitting $34.12. The stock had a trading volume of 10,740,763 shares, compared to its average volume of 12,251,870. General Motors has a 1 year low of $33.20 and a 1 year high of $46.76. The company has a market cap of $47.50 billion, a P/E ratio of 5.15, a P/E/G ratio of 0.69 and a beta of 1.55. The company has a current ratio of 0.88, a quick ratio of 0.74 and a debt-to-equity ratio of 1.81.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.03. General Motors had a negative net margin of 3.26% and a positive return on equity of 23.39%. The business had revenue of $36.80 billion for the quarter, compared to the consensus estimate of $36.62 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Analysts predict that General Motors will post 5.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.45%. The ex-dividend date was Thursday, September 6th. General Motors’s payout ratio is 22.96%.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in General Motors by 1.4% during the 1st quarter. BlackRock Inc. now owns 78,008,491 shares of the auto manufacturer’s stock worth $2,834,827,000 after acquiring an additional 1,086,199 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of General Motors by 13.7% in the 1st quarter. Franklin Resources Inc. now owns 24,874,605 shares of the auto manufacturer’s stock valued at $903,943,000 after buying an additional 3,005,964 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of General Motors by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,890,898 shares of the auto manufacturer’s stock valued at $586,820,000 after buying an additional 81,468 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of General Motors by 20.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock valued at $565,624,000 after buying an additional 2,394,922 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of General Motors by 0.3% in the 2nd quarter. Northern Trust Corp now owns 13,720,539 shares of the auto manufacturer’s stock valued at $540,590,000 after buying an additional 43,643 shares in the last quarter. Institutional investors own 75.22% of the company’s stock.
About General Motors
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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