General Motors Company (GM) Plans Quarterly Dividend of $0.38
General Motors Company (NYSE:GM) (TSE:GMM.U) declared a quarterly dividend on Monday, October 23rd, RTT News reports. Stockholders of record on Friday, December 8th will be paid a dividend of 0.38 per share by the auto manufacturer on Thursday, December 21st. This represents a $1.52 annualized dividend and a dividend yield of 3.33%.
General Motors has a payout ratio of 24.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect General Motors to earn $5.91 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 25.7%.
Shares of General Motors (GM) traded down 0.384% during trading on Monday, hitting $45.435. 4,445,539 shares of the stock traded hands. The company has a market cap of $66.21 billion, a PE ratio of 7.899 and a beta of 1.45. General Motors has a one year low of $30.21 and a one year high of $46.11. The firm has a 50 day moving average price of $41.31 and a 200-day moving average price of $36.27.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business posted $1.86 EPS. Analysts anticipate that General Motors will post $6.12 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on GM. Piper Jaffray Companies set a $44.00 target price on shares of General Motors and gave the company a “buy” rating in a research report on Monday, October 16th. UBS AG reiterated a “buy” rating and set a $50.00 target price (up from $39.00) on shares of General Motors in a research report on Wednesday, October 11th. Citigroup Inc. reiterated a “buy” rating and set a $53.00 target price on shares of General Motors in a research report on Monday, October 9th. Barclays PLC upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $55.00 in a research report on Friday, October 13th. Finally, Royal Bank Of Canada lifted their target price on shares of General Motors from $38.00 to $44.00 and gave the company a “sector perform” rating in a research report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $42.50.
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In other General Motors news, insider Karl-Thomas Neumann sold 234,274 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $34.77, for a total value of $8,145,706.98. Following the completion of the transaction, the insider now directly owns 234,274 shares of the company’s stock, valued at $8,145,706.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Patricia F. Russo bought 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was bought at an average cost of $34.73 per share, with a total value of $347,300.00. Following the completion of the purchase, the director now owns 12,300 shares of the company’s stock, valued at approximately $427,179. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 852,901 shares of company stock valued at $32,378,733. Insiders own 0.04% of the company’s stock.
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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