General Motors Company Given Average Rating of “Buy” by Analysts (NYSE:GM)
Shares of General Motors Company (NYSE:GM) have been given a consensus recommendation of “Buy” by the twenty ratings firms that are currently covering the stock, Analyst Ratings Network reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $40.84.
In other General Motors Company news, Insider Stephen J. Girsky sold 13,504 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $33.83, for a total value of $456,840.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of General Motors Company in a research note on Wednesday, August 13th. They set an “underperform” rating and a $33.30 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of General Motors Company in a research note on Friday, July 25th. They now have a $38.00 price target on the stock. Finally, analysts at Credit Agricole downgraded shares of General Motors Company from a “buy” rating to an “outperform” rating in a research note on Friday, July 25th. They now have a $40.00 price target on the stock, down previously from $45.00.
General Motors Company (NYSE:GM) traded up 1.08% during mid-day trading on Monday, hitting $34.205. 921,945 shares of the company’s stock traded hands. General Motors Company has a 52 week low of $31.70 and a 52 week high of $41.85. The stock has a 50-day moving average of $35.78 and a 200-day moving average of $35.3. The company has a market cap of $54.888 billion and a price-to-earnings ratio of 28.39. General Motors Company also was the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 36,892,668 shares, a drop of 15.4% from the July 15th total of 43,613,304 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average trading volume of 15,755,205 shares, the short-interest ratio is presently 2.3 days.
General Motors Company (NYSE:GM) last announced its 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 $2.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Monday, September 8th.
General Motors Corporation (NYSE:GM) designs, build and sell cars, trucks and automobiles parts globally.
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