General Motors (GM) PT Raised to $60.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target boosted by Citigroup from $57.00 to $60.00 in a research report released on Tuesday morning. Citigroup currently has a buy rating on the auto manufacturer’s stock.

Several other research analysts have also recently commented on GM. Royal Bank of Canada raised their target price on shares of General Motors from $52.00 to $53.00 and gave the stock an outperform rating in a report on Tuesday, July 10th. Guggenheim reiterated a buy rating and issued a $52.00 target price on shares of General Motors in a report on Friday, July 20th. Piper Jaffray Companies set a $51.00 target price on shares of General Motors and gave the stock a buy rating in a report on Wednesday, July 25th. Buckingham Research decreased their target price on shares of General Motors from $39.00 to $37.00 and set a neutral rating for the company in a report on Thursday, July 26th. Finally, Jefferies Financial Group reiterated a hold rating and issued a $39.00 target price on shares of General Motors in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $46.38.

Shares of NYSE:GM traded down $0.87 during trading hours on Tuesday, hitting $35.70. 9,036,634 shares of the company’s stock traded hands, compared to its average volume of 15,505,976. General Motors has a 52 week low of $30.56 and a 52 week high of $45.52. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The firm has a market cap of $52.05 billion, a price-to-earnings ratio of 5.46, a price-to-earnings-growth ratio of 0.70 and a beta of 1.25.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.62. General Motors had a net margin of 0.56% and a return on equity of 25.81%. The company had revenue of $35.79 billion during the quarter, compared to analyst estimates of $34.85 billion. During the same quarter last year, the firm posted $1.32 EPS. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, research analysts forecast that General Motors will post 6.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Friday, December 7th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Thursday, December 6th. General Motors’s dividend payout ratio is currently 22.96%.

Hedge funds have recently bought and sold shares of the stock. Vicus Capital boosted its holdings in shares of General Motors by 15.8% during the second quarter. Vicus Capital now owns 25,558 shares of the auto manufacturer’s stock worth $1,007,000 after purchasing an additional 3,483 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in shares of General Motors by 21.6% during the third quarter. Nikko Asset Management Americas Inc. now owns 346,829 shares of the auto manufacturer’s stock worth $11,868,000 after purchasing an additional 61,723 shares during the period. Trilogy Capital Inc. boosted its holdings in shares of General Motors by 32.3% during the second quarter. Trilogy Capital Inc. now owns 21,586 shares of the auto manufacturer’s stock worth $850,000 after purchasing an additional 5,265 shares during the period. Covenant Multifamily Offices LLC boosted its holdings in shares of General Motors by 82.6% during the second quarter. Covenant Multifamily Offices LLC now owns 144,404 shares of the auto manufacturer’s stock worth $5,690,000 after purchasing an additional 65,343 shares during the period. Finally, Pegasus Partners Ltd. boosted its holdings in shares of General Motors by 13.3% during the second quarter. Pegasus Partners Ltd. now owns 41,923 shares of the auto manufacturer’s stock worth $1,652,000 after purchasing an additional 4,934 shares during the period. Institutional investors and hedge funds own 73.90% of the company’s stock.

General Motors Company Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. 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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