General Motors Company (GM) Issues Quarterly Earnings Results
General Motors Company (NYSE:GM) (TSE:GMM.U) posted its quarterly earnings results on Tuesday. The auto manufacturer reported $1.32 EPS for the quarter, beating the consensus estimate of $1.07 by $0.25, Bloomberg Earnings reports. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The company had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. During the same period in the prior year, the company earned $1.72 earnings per share. The firm’s revenue was down 16.6% on a year-over-year basis.
Shares of General Motors (NYSE:GM) opened at 46.48 on Wednesday. General Motors has a 52 week low of $30.21 and a 52 week high of $46.76. The company’s 50-day moving average is $41.67 and its 200 day moving average is $36.48. The firm has a market capitalization of $67.73 billion, a price-to-earnings ratio of 8.08 and a beta of 1.45.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 annualized dividend and a yield of 3.27%. General Motors’s dividend payout ratio is currently 26.48%.
TRADEMARK VIOLATION NOTICE: “General Motors Company (GM) Issues Quarterly Earnings Results” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/10/24/general-motors-company-gm-issues-quarterly-earnings-results-beats-expectations-by-0-21-eps.html.
In other General Motors news, insider Charles K. Stevens III sold 16,000 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $35.80, for a total transaction of $572,800.00. Following the sale, the insider now directly owns 77,052 shares of the company’s stock, valued at $2,758,461.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas S. Timko sold 17,255 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the sale, the vice president now directly owns 26,100 shares in the company, valued at $934,119. The disclosure for this sale can be found here. Insiders sold 852,901 shares of company stock worth $32,378,733 over the last ninety days. 0.04% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on GM. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $51.00 price objective (up previously from $44.00) on shares of General Motors in a research report on Wednesday. Morgan Stanley downgraded shares of General Motors from an “overweight” rating to an “equal weight” rating and set a $43.00 price target for the company. in a research report on Wednesday. Berenberg Bank set a $31.00 price objective on shares of General Motors and gave the company a “sell” rating in a research note on Monday, August 14th. Piper Jaffray Companies set a $44.00 price objective on shares of General Motors and gave the company a “buy” rating in a research note on Monday, October 16th. Finally, Citigroup Inc. upped their price objective on shares of General Motors from $60.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. General Motors currently has an average rating of “Buy” and a consensus price target of $47.02.
General Motors Company Profile
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.
Receive News & Ratings for General Motors Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors Company and related companies with MarketBeat.com's FREE daily email newsletter.