General Motors (GM) Receives $48.29 Consensus Target Price from Analysts

Shares of General Motors (NYSE:GM) (TSE:GMM.U) have been assigned a consensus recommendation of “Buy” from the eighteen research firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $48.29.

GM has been the topic of several research analyst reports. Citigroup increased their price target on shares of General Motors to $67.00 and gave the company a “buy” rating in a research note on Friday, February 8th. Royal Bank of Canada increased their price target on shares of General Motors from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, February 7th. Seaport Global Securities initiated coverage on shares of General Motors in a research note on Wednesday, February 13th. They set a “buy” rating on the stock. Goldman Sachs Group reissued a “neutral” rating and set a $36.00 price target on shares of General Motors in a research note on Tuesday, March 26th. Finally, Nomura set a $42.00 price target on shares of General Motors and gave the company a “hold” rating in a research note on Thursday, May 2nd.

In other news, Director Wesley G. Bush bought 10,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $38.58 per share, for a total transaction of $385,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dhivya Suryadevara sold 34,756 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.40, for a total transaction of $1,299,874.40. Following the completion of the sale, the chief financial officer now owns 10,741 shares in the company, valued at $401,713.40. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Signet Investment Advisory Group Inc. acquired a new stake in shares of General Motors during the fourth quarter worth $26,000. NuWave Investment Management LLC raised its holdings in shares of General Motors by 198.6% during the fourth quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 588 shares during the period. Cornerstone Advisors Inc. raised its holdings in shares of General Motors by 63.0% during the fourth quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 346 shares during the period. Advisors Preferred LLC acquired a new stake in shares of General Motors during the fourth quarter worth $31,000. Finally, Liberty Wealth Management LLC acquired a new stake in shares of General Motors during the fourth quarter worth $30,000. Institutional investors own 77.34% of the company’s stock.

General Motors stock traded down $0.38 during trading hours on Thursday, hitting $37.00. 7,969,987 shares of the stock were exchanged, compared to its average volume of 8,816,713. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $52.48 billion, a price-to-earnings ratio of 5.66, a P/E/G ratio of 0.63 and a beta of 1.27. General Motors has a 12 month low of $30.56 and a 12 month high of $45.00.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 30th. The auto manufacturer reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.32. General Motors had a net margin of 6.26% and a return on equity of 22.67%. The business had revenue of $34.88 billion for the quarter, compared to analysts’ expectations of $35.56 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. General Motors’s revenue was down 3.4% compared to the same quarter last year. As a group, equities research analysts predict that General Motors will post 6.58 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a $0.38 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.52 dividend on an annualized basis and a yield of 4.11%. General Motors’s payout ratio is presently 23.24%.

About General Motors

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Analyst Recommendations for General Motors (NYSE:GM)

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