General Motors Company (NYSE:GM) (TSE:GMM.U) – Equities researchers at Seaport Global Securities lifted their Q4 2017 earnings per share (EPS) estimates for shares of General Motors in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. Seaport Global Securities analyst M. Ward now expects that the auto manufacturer will earn $1.41 per share for the quarter, up from their prior forecast of $1.33. Seaport Global Securities also issued estimates for General Motors’ Q1 2018 earnings at $1.77 EPS, Q2 2018 earnings at $1.51 EPS and Q3 2018 earnings at $1.26 EPS.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.25. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The business had revenue of $30.48 billion for the quarter, compared to analysts’ expectations of $29.93 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The business’s revenue was down 16.6% on a year-over-year basis. WARNING: This report was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://ledgergazette.com/2017/11/13/general-motors-company-gm-forecasted-to-earn-q4-2017-earnings-of-1-41-per-share.html.
Other research analysts have also recently issued research reports about the company. BidaskClub raised General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Vetr raised General Motors from a “hold” rating to a “buy” rating and set a $37.42 price objective on the stock in a research report on Monday, July 24th. Royal Bank Of Canada boosted their price objective on General Motors from $37.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 26th. Jefferies Group LLC boosted their target price on General Motors from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, October 30th. Finally, Standpoint Research lowered General Motors from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.61.
General Motors (NYSE GM) traded up $0.55 during mid-day trading on Thursday, reaching $42.66. The company’s stock had a trading volume of 14,102,001 shares, compared to its average volume of 13,583,509. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94. General Motors has a twelve month low of $31.92 and a twelve month high of $46.76. The stock has a market capitalization of $60,594.60, a PE ratio of 6.89, a P/E/G ratio of 0.74 and a beta of 1.56.
Several institutional investors and hedge funds have recently bought and sold shares of GM. Berkshire Hathaway Inc. boosted its holdings in shares of General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after purchasing an additional 10,000,000 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of General Motors by 290.9% in the 2nd quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock worth $357,944,000 after purchasing an additional 7,625,809 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of General Motors in the 3rd quarter worth about $202,352,000. Clearbridge Investments LLC boosted its holdings in shares of General Motors by 26,374.8% in the 1st quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock worth $140,394,000 after purchasing an additional 3,955,426 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in General Motors by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after acquiring an additional 3,560,717 shares during the period. Hedge funds and other institutional investors own 74.65% of the company’s stock.
In other news, Director Jane L. Mendillo acquired 1,440 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was purchased at an average cost of $34.86 per share, for a total transaction of $50,198.40. Following the acquisition, the director now owns 4,560 shares of the company’s stock, valued at $158,961.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Daniel Ammann sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the completion of the transaction, the president now owns 185,953 shares of the company’s stock, valued at $7,066,214. The disclosure for this sale can be found here. Insiders sold a total of 979,266 shares of company stock worth $40,917,634 over the last 90 days. Corporate insiders own 0.04% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be paid a $0.38 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.56%. General Motors’s dividend payout ratio is currently 77.95%.
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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