General Motors Target of Unusually Large Options Trading (GM)
Shares of General Motors (NYSE:GM) was the recipient of unusually large options trading activity on Wednesday. Investors bought 121,870 call options on the stock, StockRatingsNetwork reports. This represents an increase of 134% compared to the average volume of 52,010 call options.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of General Motors in a research note to investors on Wednesday. They now have a $0.30 price target on the stock. Separately, analysts at ISI Group initiated coverage on shares of General Motors in a research note to investors on Monday. They set a “hold” rating and a $45.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of General Motors in a research note to investors on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $44.42.
General Motors (NYSE:GM) traded down 1.60% during mid-day trading on Wednesday, hitting $39.38. The stock had a trading volume of 89,207,632 shares. General Motors has a 1-year low of $26.19 and a 1-year high of $41.85. The stock has a 50-day moving average of $40.16 and a 200-day moving average of $37.04. The company has a market cap of $54.698 billion and a P/E ratio of 17.02.
General Motors (NYSE:GM) last released its earnings data on Wednesday, October 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $39.00 billion for the quarter, compared to the consensus estimate of $39.50 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that General Motors will post $3.40 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which is scheduled for Friday, March 28th. Stockholders of record on Tuesday, March 18th will be paid a dividend of 0.30 per share. The ex-dividend date is Friday, March 14th.
General Motors Corporation (NYSE:GM) designs, build and sell cars, trucks and automobiles parts globally.
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