Brokerages Set General Motors (GM) Target Price at $45.79

General Motors (NYSE:GM) (TSE:GMM.U) has earned an average recommendation of “Buy” from the twenty ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $45.79.

GM has been the subject of a number of research reports. Bank of America reiterated a “buy” rating and issued a $60.00 price objective on shares of General Motors in a report on Wednesday, September 12th. Citigroup cut their price objective on General Motors from $60.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, October 4th. Zacks Investment Research upgraded General Motors from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, November 16th. Nomura dropped coverage on General Motors in a report on Tuesday, November 6th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $38.00 price objective on shares of General Motors in a report on Tuesday, November 13th.

Shares of GM traded up $0.38 during midday trading on Thursday, reaching $35.93. The stock had a trading volume of 4,231,366 shares, compared to its average volume of 12,975,054. General Motors has a 12-month low of $30.56 and a 12-month 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 stock has a market capitalization of $50.71 billion, a P/E ratio of 5.43, a PEG ratio of 0.68 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.62. General Motors had a return on equity of 25.81% and a net margin of 0.56%. The firm had revenue of $35.79 billion during the quarter, compared to analysts’ expectations of $34.85 billion. During the same period in the prior year, the business earned $1.32 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that General Motors will post 6.26 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Thursday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 22.96%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GM. Capital Research Global Investors bought a new position in General Motors during the 3rd quarter valued at approximately $480,782,000. Capital World Investors raised its position in General Motors by 15.4% during the 3rd quarter. Capital World Investors now owns 83,910,382 shares of the auto manufacturer’s stock valued at $2,825,263,000 after purchasing an additional 11,218,495 shares during the last quarter. Franklin Resources Inc. raised its position in General Motors by 38.9% during the 3rd quarter. Franklin Resources Inc. now owns 27,084,102 shares of the auto manufacturer’s stock valued at $911,922,000 after purchasing an additional 7,578,850 shares during the last quarter. Ruffer LLP bought a new position in General Motors during the 2nd quarter valued at approximately $120,141,000. Finally, Natixis raised its position in General Motors by 780.3% during the 2nd quarter. Natixis now owns 3,170,930 shares of the auto manufacturer’s stock valued at $124,935,000 after purchasing an additional 2,810,730 shares during the last quarter. 73.82% of the stock is owned by institutional investors.

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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