Morgan Stanley set a $46.00 target price on General Motors (NYSE:GM) (TSE:GMM.U) in a research report sent to investors on Monday, TipRanks reports. The brokerage currently has a buy rating on the auto manufacturer’s stock.
A number of other research analysts have also recently weighed in on GM. Evercore ISI set a $50.00 price objective on shares of General Motors and gave the company a buy rating in a report on Wednesday, August 7th. Royal Bank of Canada lifted their price objective on shares of General Motors to $52.00 and gave the company an outperform rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Credit Suisse Group assumed coverage on shares of General Motors in a report on Wednesday, June 26th. They issued an outperform rating and a $48.00 price objective for the company. ValuEngine raised shares of General Motors from a sell rating to a hold rating in a report on Tuesday, July 23rd. Finally, Nomura set a $38.00 price objective on shares of General Motors and gave the company a hold rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $47.62.
GM opened at $36.47 on Monday. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $41.90. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.83 and a current ratio of 0.96. The company has a fifty day moving average of $39.25 and a two-hundred day moving average of $38.23. The stock has a market capitalization of $52.58 billion, a price-to-earnings ratio of 5.58, a PEG ratio of 0.64 and a beta of 1.39.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.21. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The company had revenue of $36.06 billion during the quarter, compared to analysts’ expectations of $36.03 billion. During the same quarter in the previous year, the company earned $1.81 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities research analysts forecast that General Motors will post 6.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.17%. General Motors’s dividend payout ratio (DPR) is 23.24%.
In other news, President Mark L. Reuss sold 275,944 shares of General Motors stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $40.03, for a total value of $11,046,038.32. Following the sale, the president now owns 479,413 shares in the company, valued at $19,190,902.39. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.51% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in General Motors by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 16,309,521 shares of the auto manufacturer’s stock worth $544,715,000 after acquiring an additional 1,217,986 shares during the last quarter. Hollencrest Capital Management grew its position in General Motors by 2.0% during the 1st quarter. Hollencrest Capital Management now owns 25,295 shares of the auto manufacturer’s stock worth $939,000 after acquiring an additional 496 shares during the last quarter. Truvestments Capital LLC bought a new stake in General Motors during the 1st quarter worth $37,000. Mercer Global Advisors Inc. ADV bought a new stake in General Motors during the 1st quarter worth $836,000. Finally, Virtu Financial LLC bought a new stake in General Motors during the 1st quarter worth $401,000. Institutional investors and hedge funds own 75.92% 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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