General Motors (GM) Reaches New 12-Month Low at $34.47

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General Motors (NYSE:GM) (TSE:GMM.U)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $34.47 and last traded at $34.66, with a volume of 539690 shares traded. The stock had previously closed at $35.05.

GM has been the subject of a number of recent research reports. Citigroup reduced their price target on shares of General Motors to $60.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. Piper Jaffray Companies set a $57.00 price objective on shares of General Motors and gave the stock an “overweight” rating in a research note on Tuesday, May 15th. Evercore ISI raised shares of General Motors from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $47.00 to $50.00 in a research note on Thursday, May 31st. Morgan Stanley set a $48.00 price objective on shares of General Motors and gave the stock a “buy” rating in a research note on Thursday, May 24th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $58.00 price objective on shares of General Motors in a research note on Friday, June 1st. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.02.

The company has a market capitalization of $50.86 billion, a P/E ratio of 5.30, a P/E/G ratio of 0.74 and a beta of 1.56. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.74 and a current ratio of 0.88.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.03. General Motors had a negative net margin of 3.26% and a positive return on equity of 23.39%. The firm had revenue of $36.80 billion for the quarter, compared to analysts’ expectations of $36.62 billion. During the same quarter last year, the company earned $1.89 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. research analysts predict that General Motors will post 5.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, September 7th will be paid a $0.38 dividend. The ex-dividend date is Thursday, September 6th. This represents a $1.52 dividend on an annualized basis and a yield of 4.42%. General Motors’s dividend payout ratio is currently 22.96%.

A number of institutional investors have recently added to or reduced their stakes in the stock. HRT Financial LLC acquired a new stake in General Motors in the 2nd quarter valued at $599,000. Mainstay Capital Management LLC ADV grew its stake in General Motors by 788.8% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 14,949 shares of the auto manufacturer’s stock valued at $589,000 after acquiring an additional 13,267 shares during the period. Bank of New York Mellon Corp grew its stake in General Motors by 20.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock valued at $565,624,000 after acquiring an additional 2,394,922 shares during the period. Schroder Investment Management Group grew its stake in General Motors by 8.7% in the 2nd quarter. Schroder Investment Management Group now owns 658,558 shares of the auto manufacturer’s stock valued at $26,685,000 after acquiring an additional 52,547 shares during the period. Finally, Wilsey Asset Management Inc. grew its stake in General Motors by 2.7% in the 2nd quarter. Wilsey Asset Management Inc. now owns 287,828 shares of the auto manufacturer’s stock valued at $11,303,000 after acquiring an additional 7,490 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

About General Motors (NYSE:GM)

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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