FY2018 Earnings Forecast for General Motors Company Issued By Jefferies Group (GM)
General Motors Company (NYSE:GM) (TSE:GMM.U) – Stock analysts at Jefferies Group dropped their FY2018 earnings per share estimates for shares of General Motors in a research note issued on Monday. Jefferies Group analyst P. Houchois now forecasts that the auto manufacturer will post earnings of $5.48 per share for the year, down from their previous estimate of $5.52. Jefferies Group has a “Hold” rating and a $40.00 price objective on the stock.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to the consensus estimate of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The firm’s revenue was down 16.6% compared to the same quarter last year. During the same period last year, the business earned $1.72 EPS. ILLEGAL ACTIVITY WARNING: “FY2018 Earnings Forecast for General Motors Company Issued By Jefferies Group (GM)” was published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/11/01/fy2018-earnings-forecast-for-general-motors-company-issued-by-jefferies-group-gm.html.
Other equities research analysts also recently issued research reports about the company. BidaskClub raised General Motors from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. ValuEngine raised General Motors from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $44.00 target price on shares of General Motors in a report on Tuesday, September 12th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $37.00 target price on shares of General Motors in a report on Friday, July 14th. Finally, Vetr downgraded General Motors from a “buy” rating to a “hold” rating and set a $37.42 target price on the stock. in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $43.32.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Thursday, December 7th. General Motors’s dividend payout ratio is presently 77.95%.
In related news, insider Alan S. Batey sold 8,144 shares of General Motors stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $35.57, for a total transaction of $289,682.08. Following the transaction, the insider now owns 66,748 shares in the company, valued at approximately $2,374,226.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jane L. Mendillo bought 1,440 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average price of $34.86 per share, for a total transaction of $50,198.40. Following the purchase, the director now owns 4,560 shares in the company, valued at approximately $158,961.60. The disclosure for this purchase can be found here. Insiders have sold a total of 979,266 shares of company stock worth $40,917,634 in the last quarter. Corporate insiders own 0.04% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GM. YorkBridge Wealth Partners LLC increased its holdings in General Motors by 43.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after acquiring an additional 860 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC bought a new stake in General Motors in the 1st quarter valued at $106,000. FNY Managed Accounts LLC bought a new stake in General Motors in the 1st quarter valued at $107,000. State of Alaska Department of Revenue increased its holdings in General Motors by 10.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock valued at $113,000 after acquiring an additional 310 shares during the last quarter. Finally, Ffcm LLC increased its holdings in General Motors by 2,008.1% in the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock valued at $120,000 after acquiring an additional 3,213 shares during the last quarter. 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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