Analysts expect General Motors (NYSE:GM) (TSE:GMM.U) to post sales of $36.69 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for General Motors’ earnings, with estimates ranging from $36.46 billion to $36.92 billion. General Motors posted sales of $35.79 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The firm is expected to announce its next quarterly earnings report on Wednesday, October 30th.
On average, analysts expect that General Motors will report full year sales of $145.86 billion for the current financial year, with estimates ranging from $144.75 billion to $147.44 billion. For the next year, analysts anticipate that the company will post sales of $144.01 billion, with estimates ranging from $138.14 billion to $146.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover General Motors.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.21. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The company had revenue of $36.06 billion for the quarter, compared to analyst estimates of $36.03 billion. During the same period in the previous year, the company posted $1.81 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis.
Several research analysts have recently weighed in on GM shares. Citigroup boosted their price target on General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Evercore ISI set a $50.00 price target on General Motors and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada boosted their price target on General Motors to $52.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. Credit Suisse Group started coverage on General Motors in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 price target for the company. Finally, Morgan Stanley set a $46.00 price target on General Motors and gave the stock a “buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. General Motors presently has an average rating of “Buy” and a consensus price target of $46.58.
Shares of GM stock traded down $0.21 during mid-day trading on Friday, hitting $38.86. The company’s stock had a trading volume of 10,133,500 shares, compared to its average volume of 8,648,374. General Motors has a 52-week low of $30.56 and a 52-week high of $41.90. The business has a 50-day moving average price of $38.45 and a 200 day moving average price of $38.02. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.83 and a current ratio of 0.96. The stock has a market cap of $55.88 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 0.65 and a beta of 1.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Thursday, September 5th. General Motors’s dividend payout ratio (DPR) is 23.24%.
In related news, EVP Matthew Tsien sold 83,067 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $39.50, for a total transaction of $3,281,146.50. Following the completion of the transaction, the executive vice president now directly owns 84,667 shares of the company’s stock, valued at $3,344,346.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Mark L. Reuss sold 275,944 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $40.03, for a total value of $11,046,038.32. Following the transaction, the president now directly owns 479,413 shares of the company’s stock, valued at $19,190,902.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 375,944 shares of company stock valued at $14,996,038. Corporate insiders own 0.51% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GM. BlackRock Inc. lifted its stake in shares of General Motors by 6.7% in the 1st quarter. BlackRock Inc. now owns 83,427,385 shares of the auto manufacturer’s stock valued at $3,095,158,000 after purchasing an additional 5,215,771 shares during the last quarter. FMR LLC lifted its stake in shares of General Motors by 83.3% in the 1st quarter. FMR LLC now owns 8,016,745 shares of the auto manufacturer’s stock valued at $297,421,000 after purchasing an additional 3,643,659 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of General Motors by 382.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,301,795 shares of the auto manufacturer’s stock valued at $165,748,000 after purchasing an additional 3,410,146 shares during the last quarter. Korea Investment CORP lifted its stake in shares of General Motors by 321.1% in the 2nd quarter. Korea Investment CORP now owns 4,302,991 shares of the auto manufacturer’s stock valued at $165,794,000 after purchasing an additional 3,281,200 shares during the last quarter. Finally, Holocene Advisors LP lifted its stake in shares of General Motors by 319.2% in the 2nd quarter. Holocene Advisors LP now owns 3,461,357 shares of the auto manufacturer’s stock valued at $133,366,000 after purchasing an additional 2,635,687 shares during the last quarter. 77.36% of the stock is owned by institutional investors.
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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