Jefferies Financial Group Weighs in on General Motors’ FY2020 Earnings (NYSE:GM)

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General Motors (NYSE:GM) (TSE:GMM.U) – Analysts at Jefferies Financial Group increased their FY2020 earnings estimates for General Motors in a report issued on Monday, November 11th. Jefferies Financial Group analyst P. Houchois now expects that the auto manufacturer will post earnings of $6.44 per share for the year, up from their previous forecast of $6.19.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.54. General Motors had a return on equity of 19.78% and a net margin of 6.19%. The firm had revenue of $35.50 billion for the quarter, compared to analyst estimates of $35.21 billion. During the same period in the previous year, the company posted $1.87 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year.

Several other equities analysts have also issued reports on the company. ValuEngine upgraded General Motors from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. UBS Group upped their price objective on General Motors from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Barclays lowered their price objective on General Motors from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Citigroup upped their price objective on General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Buckingham Research lowered their price objective on General Motors from $35.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $47.00.

GM traded down $1.40 on Wednesday, hitting $37.19. 12,556,188 shares of the stock traded hands, compared to its average volume of 8,747,725. General Motors has a 52 week low of $31.46 and a 52 week high of $41.90. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $55.25 billion, a PE ratio of 5.69, a P/E/G ratio of 0.74 and a beta of 1.40. The business has a fifty day moving average price of $36.65 and a two-hundred day moving average price of $37.48.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Next Capital Management LLC bought a new stake in General Motors during the 2nd quarter worth approximately $25,000. Advisors Preferred LLC acquired a new position in General Motors during the 2nd quarter worth $26,000. Trust Co. of Vermont lifted its holdings in General Motors by 101.2% during the 2nd quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock worth $26,000 after buying an additional 335 shares in the last quarter. Quest Capital Management Inc. ADV acquired a new position in General Motors during the 3rd quarter worth $26,000. Finally, Webster Bank N. A. lifted its holdings in General Motors by 253.5% during the 2nd quarter. Webster Bank N. A. now owns 700 shares of the auto manufacturer’s stock worth $27,000 after buying an additional 502 shares in the last quarter. Institutional investors and hedge funds own 76.94% of the company’s stock.

In other news, EVP Matthew Tsien sold 83,067 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $39.50, for a total value of $3,281,146.50. Following the sale, the executive vice president now directly owns 84,667 shares in the company, valued at approximately $3,344,346.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.51% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.38 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.09%. General Motors’s dividend payout ratio is currently 23.24%.

General Motors Company Profile

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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Earnings History and Estimates for General Motors (NYSE:GM)

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