Zacks Investment Research upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from a hold rating to a buy rating in a research report released on Wednesday. Zacks Investment Research currently has $46.00 price objective on the auto manufacturer’s stock.
According to Zacks, “General Motors reported fourth-quarter 2017 adjusted earnings per share of $1.65, beating the Zacks Consensus Estimate of $1.34.During the quarter, revenues also surpassed the the Zacks Consensus Estimate.For any fourth quarter, adjusted EBIT set a record. This was aided by sales of crossovers, strong pricing and cost-control initiatives, which were partly offset by a wholesale volume decline. Also, the company outperformed the industry it belongs to over the last six months. The company’s capital allocation strategy, initiatives to make its vehicles more advanced, safer and fuel efficient and focus on technology development are likely to benefit. Its restructuring activities are also expected to benefit in the long run. Also, the company is raising investment in emerging markets to boost global sales. Howrver, weak used car pricing, a challenging pricing environment as well as more pressure on commodity costs are headwinds before it.”
Other equities research analysts also recently issued research reports about the stock. Berenberg Bank set a $34.00 target price on shares of General Motors and gave the company a sell rating in a research note on Wednesday, February 7th. Morgan Stanley increased their target price on shares of General Motors from $43.00 to $44.00 and gave the company an equal weight rating in a research note on Wednesday. Nomura set a $45.00 target price on shares of General Motors and gave the company a neutral rating in a research note on Thursday, February 8th. Jefferies Group increased their target price on shares of General Motors from $36.00 to $40.00 and gave the company a hold rating in a research note on Monday, October 30th. Finally, Goldman Sachs Group downgraded shares of General Motors from a neutral rating to a sell rating and reduced their target price for the company from $43.16 to $32.00 in a research note on Monday, October 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. General Motors currently has an average rating of Hold and a consensus target price of $44.44.
General Motors (NYSE:GM) opened at $41.09 on Wednesday. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.76 and a current ratio of 0.89. The company has a market cap of $58,360.00, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 0.80 and a beta of 1.59.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.31. General Motors had a negative net margin of 2.58% and a positive return on equity of 22.86%. The business had revenue of $34.48 billion during the quarter, compared to analyst estimates of $34.28 billion. During the same quarter last year, the business earned $1.28 earnings per share. General Motors’s quarterly revenue was down 7.7% compared to the same quarter last year. equities research analysts forecast that General Motors will post 6.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, March 8th. General Motors’s payout ratio is 29.51%.
In other General Motors news, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the transaction, the insider now directly owns 57,091 shares in the company, valued at approximately $2,459,480.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Charles K. Stevens III sold 35,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $40.88, for a total transaction of $1,430,800.00. Following the transaction, the chief financial officer now owns 26,052 shares in the company, valued at $1,065,005.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 203,847 shares of company stock worth $8,793,908. 0.04% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Banco de Sabadell S.A bought a new position in General Motors during the 4th quarter worth about $1,036,000. Archford Capital Strategies LLC bought a new stake in shares of General Motors in the 4th quarter valued at about $368,000. Lake Street Advisors Group LLC bought a new stake in shares of General Motors in the 4th quarter valued at about $387,000. DF Dent & Co. Inc. bought a new stake in shares of General Motors in the 4th quarter valued at about $358,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of General Motors in the 4th quarter valued at about $16,213,000. Institutional investors own 73.38% of the company’s stock.
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About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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