General Motors Company (GM) Plans Quarterly Dividend of $0.38
General Motors Company (NYSE:GM) (TSE:GMM.U) declared a quarterly dividend on Monday, July 24th, RTT News reports. Investors of record on Friday, September 8th will be given a dividend of 0.38 per share by the auto manufacturer on Friday, September 22nd. This represents a $1.52 dividend on an annualized basis and a yield of 4.21%.
General Motors has a dividend payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect General Motors to earn $5.88 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 25.9%.
General Motors (NYSE:GM) traded down 0.33% on Monday, reaching $35.95. 4,683,357 shares of the company were exchanged. General Motors has a 12-month low of $29.82 and a 12-month high of $38.55. The firm has a 50-day moving average of $34.91 and a 200 day moving average of $35.29. The firm has a market capitalization of $54.25 billion, a P/E ratio of 5.56 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Friday, April 28th. The auto manufacturer reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ 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 net margin of 5.92% and a return on equity of 22.82%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.26 earnings per share. On average, equities analysts predict that General Motors will post $6.07 earnings per share for the current year.
A number of brokerages have commented on GM. Tigress Financial reissued a “strong-buy” rating on shares of General Motors in a research note on Thursday, March 30th. Royal Bank Of Canada reiterated a “hold” rating and set a $37.00 price objective on shares of General Motors in a report on Friday, July 14th. Zacks Investment Research upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Wednesday, June 21st. Jefferies Group LLC restated a “buy” rating and issued a $36.00 price target on shares of General Motors in a report on Tuesday, June 13th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $44.00 price objective on shares of General Motors in a research report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. General Motors currently has a consensus rating of “Hold” and a consensus price target of $39.50.
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In related news, Director Jane L. Mendillo bought 1,520 shares of the stock in a transaction on Friday, May 26th. The stock was bought at an average price of $32.92 per share, with a total value of $50,038.40. Following the completion of the purchase, the director now directly owns 3,120 shares in the company, valued at approximately $102,710.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stefan Jacoby sold 2,686 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $33.85, for a total transaction of $90,921.10. Following the transaction, the insider now directly owns 80,379 shares of the company’s stock, valued at approximately $2,720,829.15. The disclosure for this sale can be found here. Insiders sold 139,158 shares of company stock valued at $4,643,312 in the last three months. 0.04% of the stock is currently owned by insiders.
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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