General Motors Company Rating Reiterated by Zacks (GM)
General Motors Company (NYSE:GM)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Friday. They currently have a $38.00 price objective on the stock. Zacks‘s target price points to a potential upside of 8.35% from the company’s current price.
Zacks’ analyst wrote, “General Motors recorded adjusted earnings of $1.5 billion or $0.58 per share in the second quarter of 2014, missing the Zacks Consensus Estimate of $0.78 per share. Revenues grew 1.5% year over year to $39.6 billion, lagging the Zacks Consensus Estimate of $40.8 billion. The year over year increase was driven by better pricing and new product introduction. General Motors is benefiting from its focus on the emerging markets, investments in the U.S. and efforts to boost financial flexibility. We also expect that better results by the Opel brand will have a favorable impact on the financials. However, we are concerned about the high rate of product recalls and the ongoing investigation regarding delay in product recalls. Thus, we are maintaining a Neutral recommendation on the stock.”
General Motors Company (NYSE:GM) traded down 1.87% during mid-day trading on Friday, hitting $35.07. 28,537,314 shares of the company’s stock traded hands. General Motors Company has a one year low of $31.70 and a one year high of $41.85. The stock’s 50-day moving average is $36.87 and its 200-day moving average is $35.88. The company has a market cap of $56.242 billion and a price-to-earnings ratio of 19.09. General Motors Company also was the target of some unusual options trading on Thursday. Stock traders acquired 37,937 call options on the stock. This is an increase of 151% compared to the average volume of 15,139 call options.
General Motors Company (NYSE:GM) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by $0.37. The company had revenue of $39.60 billion for the quarter, compared to the consensus estimate of $40.63 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts expect that General Motors Company will post $2.84 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on GM. Analysts at Credit Agricole downgraded shares of General Motors Company from a “buy” rating to an “outperform” rating in a research note on Friday. They now have a $40.00 price target on the stock, down previously from $45.00. Separately, analysts at Deutsche Bank downgraded shares of General Motors Company from a “buy” rating to a “hold” rating in a research note on Friday. They now have a $41.00 price target on the stock, up previously from $34.93. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of General Motors Company in a research note on Tuesday. They now have a $48.00 price target on the stock, up previously from $47.00. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $41.35.
General Motors Corporation (NYSE:GM) designs, build and sell cars, trucks and automobiles parts globally.
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