FY2017 EPS Estimates for General Motors Company Lifted by Analyst (GM)
General Motors Company (NYSE:GM) (TSE:GMM.U) – Analysts at Jefferies Group raised their FY2017 earnings estimates for shares of General Motors in a report issued on Monday. Jefferies Group analyst P. Houchois now expects that the auto manufacturer will post earnings per share of $6.28 for the year, up from their previous estimate of $5.93. Jefferies Group currently has a “Hold” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for General Motors’ FY2019 earnings at $5.21 EPS, FY2020 earnings at $5.46 EPS and FY2021 earnings at $4.87 EPS.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.25. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The firm had revenue of $30.48 billion for the quarter, compared to the consensus estimate of $29.93 billion. During the same quarter in the previous year, the company earned $1.72 earnings per share. The business’s revenue was down 16.6% compared to the same quarter last year.
GM has been the topic of a number of other reports. Deutsche Bank AG upped their price objective on General Motors from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $44.00 price objective on shares of General Motors in a report on Tuesday, September 12th. UBS AG reaffirmed a “buy” rating and issued a $50.00 price objective (up from $39.00) on shares of General Motors in a report on Wednesday, October 11th. Royal Bank Of Canada upped their price objective on General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a report on Wednesday, October 25th. Finally, BMO Capital Markets raised General Motors to a “market perform” rating and upped their price objective for the company from $41.00 to $48.00 in a report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $43.37.
Shares of General Motors (NYSE:GM) opened at 43.37 on Tuesday. General Motors has a 1-year low of $30.21 and a 1-year high of $46.76. The firm’s 50-day moving average is $42.49 and its 200-day moving average is $36.79. The firm has a market cap of $63.20 billion, a P/E ratio of 7.54 and a beta of 1.44.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is presently 77.95%.
In other General Motors news, CFO Charles K. Stevens III sold 265,458 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $44.49, for a total value of $11,810,226.42. Following the completion of the transaction, the chief financial officer now directly owns 326,510 shares in the company, valued at $14,526,429.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Thomas S. Timko sold 44,791 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $44.46, for a total value of $1,991,407.86. Following the completion of the transaction, the chief accounting officer now owns 66,838 shares of the company’s stock, valued at $2,971,617.48. The disclosure for this sale can be found here. Insiders sold 979,266 shares of company stock worth $40,917,634 over the last ninety days. 0.04% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. YorkBridge Wealth Partners LLC raised its position in General Motors by 43.5% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after purchasing an additional 860 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC bought a new position in General Motors in the first quarter valued at about $106,000. FNY Managed Accounts LLC bought a new position in General Motors in the first quarter valued at about $107,000. State of Alaska Department of Revenue raised its position in General Motors by 10.5% in the second quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock valued at $113,000 after purchasing an additional 310 shares during the last quarter. Finally, Ffcm LLC raised its position in General Motors by 2,008.1% in the second quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock valued at $120,000 after purchasing an additional 3,213 shares during the last quarter. Hedge funds and other institutional investors own 72.83% 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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