General Motors Company Earns Neutral Rating from Zacks (GM)
General Motors Company (NYSE:GM)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Wednesday. They currently have a $37.00 price target on the stock. Zacks‘s price objective would indicate a potential upside of 6.32% from the company’s current price.
Zacks’ analyst wrote, “General Motors recorded adjusted earnings of $0.58 per share in the second quarter of 2014, missing the Zacks Consensus Estimate of $0.78. Revenues grew 1.5% year over year to $39.6 billion, lagging the Zacks Consensus Estimate of $40.8 billion. The improvement year over year was driven by better pricing and favorable product launches. General Motors is benefiting from its focus on emerging markets, investments in the U.S. and efforts to boost sales through product launches. We also expect the improving results of the Opel brand to favorably impact the company’s financials. However, we are concerned about the high number of product recalls and the challenging situation in South Africa. Thus, we are maintaining a Neutral recommendation on General Motors. “
Shares of General Motors Company (NYSE:GM) traded down 0.37% during mid-day trading on Wednesday, hitting $34.67. 6,156,190 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 $34.88 and a 200-day moving average of $35.2. The company has a market cap of $55.634 billion and a price-to-earnings ratio of 29.19. General Motors Company also was the recipient of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 30,247,321 shares, a decrease of 18.0% from the July 31st total of 36,892,668 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average trading volume of 11,133,221 shares, the days-to-cover ratio is currently 2.7 days.
General Motors Company (NYSE:GM) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.58 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.84 earnings per share. General Motors Company’s revenue was up 1.3% compared to the same quarter last year. On average, analysts predict that General Motors Company will post $2.72 earnings per share 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 3.45%. The ex-dividend date of this dividend is Monday, September 8th.
A number of other analysts have also recently weighed in on GM. 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 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. Finally, analysts at Deutsche Bank downgraded shares of General Motors Company from a “buy” rating to a “hold” rating in a research note on Friday, July 25th. They now have a $41.00 price target on the stock, up previously from $34.93. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Motors Company currently has a consensus rating of “Buy” and a consensus target price of $40.78.
General Motors Corporation (NYSE:GM) designs, build and sell cars, trucks and automobiles parts globally.
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