General Motors Co. (GM) Given Sell Rating at Berenberg Bank
Berenberg Bank reaffirmed their sell rating on shares of General Motors Co. (NYSE:GM) (TSE:GMM.U) in a research report sent to investors on Monday morning. The brokerage currently has a $29.00 target price on the auto manufacturer’s stock.
A number of other equities analysts have also recently weighed in on GM. Jefferies Group started coverage on shares of General Motors in a research report on Tuesday, August 9th. They set a hold rating and a $33.00 price target on the stock. Seaport Global Securities started coverage on shares of General Motors in a research report on Tuesday, August 9th. They set a buy rating and a $42.00 price target on the stock. Barclays PLC reissued an equal weight rating and set a $36.00 price target on shares of General Motors in a research report on Thursday, August 11th. Vetr cut shares of General Motors from a strong-buy rating to a buy rating and set a $35.06 price target on the stock. in a research report on Monday, September 5th. Finally, Morgan Stanley raised shares of General Motors from an equal weight rating to an overweight rating and lifted their price target for the stock from $29.00 to $37.00 in a research report on Monday, September 19th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. General Motors has an average rating of Hold and an average target price of $36.06.
General Motors (NYSE:GM) opened at 34.05 on Monday. The firm’s 50-day moving average is $32.29 and its 200 day moving average is $31.18. The firm has a market capitalization of $51.90 billion, a P/E ratio of 3.89 and a beta of 1.42. General Motors has a 52-week low of $26.69 and a 52-week high of $36.52.
General Motors (NYSE:GM) last announced its quarterly earnings results on Tuesday, October 25th. The auto manufacturer reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.28. The company had revenue of $42.80 billion for the quarter, compared to analysts’ expectations of $39.11 billion. General Motors had a net margin of 8.58% and a return on equity of 23.22%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.50 earnings per share. Equities analysts anticipate that General Motors will post $6.01 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Shareholders of record on Wednesday, December 7th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Monday, December 5th. General Motors’s dividend payout ratio is currently 17.41%.
Several hedge funds have recently modified their holdings of GM. Vanguard Group Inc. increased its stake in shares of General Motors by 0.4% in the second quarter. Vanguard Group Inc. now owns 86,210,502 shares of the auto manufacturer’s stock worth $2,439,758,000 after buying an additional 332,564 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of General Motors by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 37,273,340 shares of the auto manufacturer’s stock worth $1,184,174,000 after buying an additional 101,905 shares during the period. Capital World Investors increased its stake in shares of General Motors by 2.3% in the second quarter. Capital World Investors now owns 22,673,792 shares of the auto manufacturer’s stock worth $641,668,000 after buying an additional 505,600 shares during the period. Janus Capital Management LLC increased its stake in shares of General Motors by 38.3% in the second quarter. Janus Capital Management LLC now owns 21,555,499 shares of the auto manufacturer’s stock worth $610,020,000 after buying an additional 5,969,449 shares during the period. Finally, BlackRock Fund Advisors increased its stake in shares of General Motors by 4.2% in the third quarter. BlackRock Fund Advisors now owns 17,186,243 shares of the auto manufacturer’s stock worth $546,007,000 after buying an additional 692,531 shares during the period. 70.71% of the stock is owned by institutional investors.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.
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