General Motors (GM) Issues Quarterly Earnings Results

General Motors (NYSE:GM) (TSE:GMM.U) issued its earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.31, Bloomberg Earnings reports. General Motors had a negative net margin of 2.58% and a positive return on equity of 22.86%. The business had revenue of $34.48 billion for the quarter, compared to analyst estimates of $34.28 billion. During the same period in the prior year, the firm earned $1.28 earnings per share. General Motors’s revenue was down 7.7% on a year-over-year basis.

General Motors (NYSE GM) traded down $0.26 during trading hours on Thursday, hitting $41.55. 4,387,308 shares of the stock were exchanged, compared to its average volume of 13,903,364. The stock has a market cap of $59,120.00, a P/E ratio of 8.05, a PEG ratio of 0.79 and a beta of 1.59. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.86.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Thursday, March 8th. General Motors’s dividend payout ratio is presently 29.51%.

A number of research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 25th. BMO Capital Markets raised shares of General Motors to a “market perform” rating and raised their price target for the company from $41.00 to $48.00 in a research report on Wednesday, October 25th. Craig Hallum set a $45.00 price objective on shares of General Motors and gave the stock a “hold” rating in a report on Wednesday, October 25th. Morgan Stanley downgraded shares of General Motors from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $46.48 to $43.00 in a report on Wednesday, October 25th. Finally, Deutsche Bank lifted their target price on shares of General Motors from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. General Motors has a consensus rating of “Hold” and a consensus price target of $44.44.

In other General Motors news, CFO Charles K. Stevens III sold 35,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $40.88, for a total transaction of $1,430,800.00. Following the completion of the sale, the chief financial officer now directly owns 26,052 shares of the company’s stock, valued at approximately $1,065,005.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the sale, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,459,480.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 203,847 shares of company stock worth $8,793,908. 0.04% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Gotham Asset Management LLC boosted its position in shares of General Motors by 21.3% during the 4th quarter. Gotham Asset Management LLC now owns 1,434,684 shares of the auto manufacturer’s stock valued at $58,808,000 after acquiring an additional 251,828 shares during the last quarter. HBK Sorce Advisory LLC bought a new position in shares of General Motors during the 4th quarter valued at approximately $292,000. Bramshill Investments LLC bought a new stake in General Motors in the fourth quarter worth $353,000. Millennium Management LLC lifted its position in General Motors by 78.1% in the fourth quarter. Millennium Management LLC now owns 6,810,691 shares of the auto manufacturer’s stock worth $279,170,000 after buying an additional 2,986,293 shares during the last quarter. Finally, DSC Advisors L.P. bought a new stake in General Motors in the fourth quarter worth $2,209,000. 73.38% of the stock is owned by institutional investors and hedge funds.

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General Motors Company Profile

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

Earnings History for General Motors (NYSE:GM)

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