General Motors Company (GM) Expected to Post Quarterly Sales of $40.25 Billion
Equities research analysts forecast that General Motors Company (NYSE:GM) (TSE:GMM.U) will report $40.25 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for General Motors’ earnings. The highest sales estimate is $43.11 billion and the lowest is $37.38 billion. General Motors posted sales of $42.37 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 5%. The firm is scheduled to announce its next earnings report before the market opens on Tuesday, July 25th.
On average, analysts expect that General Motors will report full year sales of $40.25 billion for the current fiscal year, with estimates ranging from $153.56 billion to $166.92 billion. For the next financial year, analysts forecast that the company will report sales of $148.62 billion per share, with estimates ranging from $144.95 billion to $154.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow General Motors.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Friday, April 28th. The auto manufacturer reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.25. The firm had revenue of $41.20 billion during the quarter, compared to analysts’ expectations of $37.38 billion. General Motors had a return on equity of 22.82% and a net margin of 5.92%. General Motors’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share.
A number of equities research analysts have weighed in on the company. UBS AG restated a “buy” rating and issued a $40.00 target price (up from $38.00) on shares of General Motors in a research report on Friday, April 14th. Piper Jaffray Companies reiterated a “buy” rating and set a $44.00 price objective on shares of General Motors in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “hold” rating and set a $37.00 price objective on shares of General Motors in a research report on Friday, July 14th. Vetr downgraded General Motors from a “buy” rating to a “hold” rating and set a $37.42 price objective for the company. in a research report on Monday. Finally, BidaskClub upgraded General Motors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $39.50.
In related news, insider Mark L. Reuss sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $33.35, for a total value of $2,501,250.00. Following the completion of the sale, the insider now owns 133,052 shares of the company’s stock, valued at $4,437,284.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jane L. Mendillo purchased 1,520 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average cost of $32.92 per share, with a total value of $50,038.40. Following the acquisition, the director now owns 3,120 shares of the company’s stock, valued at $102,710.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 139,158 shares of company stock valued at $4,643,312. Company insiders own 0.04% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Vident Investment Advisory LLC bought a new stake in shares of General Motors during the fourth quarter worth $500,000. Pekin Singer Strauss Asset Management IL raised its stake in shares of General Motors by 3.1% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 63,330 shares of the auto manufacturer’s stock worth $2,206,000 after buying an additional 1,912 shares in the last quarter. Wealthfront Inc. raised its stake in shares of General Motors by 27.3% in the fourth quarter. Wealthfront Inc. now owns 31,003 shares of the auto manufacturer’s stock worth $1,080,000 after buying an additional 6,654 shares in the last quarter. RMB Capital Management LLC bought a new stake in shares of General Motors during the fourth quarter worth $398,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of General Motors by 18.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 7,457,145 shares of the auto manufacturer’s stock worth $259,807,000 after buying an additional 1,179,612 shares in the last quarter. 73.50% of the stock is owned by institutional investors and hedge funds.
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General Motors (GM) traded up 0.11% during trading on Wednesday, reaching $36.47. The company’s stock had a trading volume of 7,802,073 shares. General Motors has a 52 week low of $29.82 and a 52 week high of $38.55. The firm has a market capitalization of $55.04 billion, a P/E ratio of 5.64 and a beta of 1.45. The firm has a 50-day moving average price of $34.76 and a 200-day moving average price of $35.28.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Wednesday, June 7th. General Motors’s payout ratio is 23.53%.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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