General Motors Co. (GM) Issues FY16 Earnings Guidance
General Motors Co. (NYSE:GM) updated its FY16 earnings guidance on Wednesday. The company provided EPS guidance of $5.50-6.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.83.
Several brokerages recently issued reports on GM. Nomura began coverage on shares of General Motors in a research note on Tuesday. They issued a neutral rating and a $33.00 price target for the company. Vetr lowered shares of General Motors from a strong-buy rating to a buy rating and set a $35.44 price target for the company. in a research note on Monday. Morgan Stanley upgraded shares of General Motors from an equal weight rating to an overweight rating and increased their price target for the stock from $29.00 to $37.00 in a research note on Monday. Jefferies Group reiterated a hold rating on shares of General Motors in a research note on Friday, September 2nd. Finally, Barclays PLC reiterated an equal weight rating and issued a $36.00 price target on shares of General Motors in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $35.62.
General Motors Co. (NYSE:GM) traded up 1.07% during midday trading on Wednesday, reaching $31.99. 7,151,770 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $31.40 and its 200 day moving average is $30.80. The firm has a market capitalization of $49.97 billion, a price-to-earnings ratio of 4.10 and a beta of 1.70. General Motors Co. has a 52 week low of $26.69 and a 52 week high of $36.88.
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General Motors (NYSE:GM) last issued its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.35. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The business had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.81 billion. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts anticipate that General Motors Co. will post $5.84 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.80%. General Motors’s payout ratio is 19.46%.
In related news, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total value of $199,625.00. Following the sale, the vice president now owns 27,477 shares in the company, valued at $877,615.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jane L. Mendillo bought 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the transaction, the director now owns 1,600 shares of the company’s stock, valued at $49,616. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.
Large investors have recently modified their holdings of the stock. WFG Advisors LP raised its stake in shares of General Motors by 0.5% in the second quarter. WFG Advisors LP now owns 9,031 shares of the auto manufacturer’s stock worth $256,000 after buying an additional 48 shares in the last quarter. Reliance Trust Co. of Delaware raised its stake in shares of General Motors by 2.2% in the second quarter. Reliance Trust Co. of Delaware now owns 19,304 shares of the auto manufacturer’s stock worth $546,000 after buying an additional 417 shares in the last quarter. National Asset Management Inc. raised its stake in shares of General Motors by 3.4% in the second quarter. National Asset Management Inc. now owns 14,902 shares of the auto manufacturer’s stock worth $423,000 after buying an additional 496 shares in the last quarter. Fiera Capital Corp raised its stake in shares of General Motors by 1.1% in the second quarter. Fiera Capital Corp now owns 65,600 shares of the auto manufacturer’s stock worth $1,849,000 after buying an additional 700 shares in the last quarter. Finally, Advantus Capital Management Inc raised its stake in shares of General Motors by 0.7% in the second quarter. Advantus Capital Management Inc now owns 136,308 shares of the auto manufacturer’s stock worth $3,858,000 after buying an additional 889 shares in the last quarter. Hedge funds and other institutional investors own 70.40% of the company’s stock.
General Motors Company Profile
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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