General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) – Analysts at Jefferies Financial Group upped their FY2023 EPS estimates for General Motors in a research note issued on Wednesday, February 1st. Jefferies Financial Group analyst P. Houchois now anticipates that the auto manufacturer will post earnings per share of $6.04 for the year, up from their prior forecast of $5.01. The consensus estimate for General Motors' current full-year earnings is $6.11 per share. Jefferies Financial Group also issued estimates for General Motors' FY2024 earnings at $6.69 EPS and FY2025 earnings at $7.53 EPS.
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GM has been the topic of several other reports. Wolfe Research downgraded shares of General Motors from an "outperform" rating to a "peer perform" rating in a research report on Thursday, November 10th. Berenberg Bank downgraded General Motors from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $45.00 to $41.00 in a research report on Monday, January 30th. StockNews.com upgraded General Motors from a "hold" rating to a "buy" rating in a research report on Thursday, October 27th. Wells Fargo & Company boosted their price target on General Motors from $29.00 to $30.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 26th. Finally, Daiwa Capital Markets raised their price target on General Motors to $38.00 in a report on Thursday, October 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.72.
General Motors Stock Performance
Shares of GM opened at $41.13 on Monday. The firm has a fifty day moving average of $36.84 and a 200-day moving average of $37.23. The company has a market cap of $57.36 billion, a price-to-earnings ratio of 6.71, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.95 and a current ratio of 1.10. General Motors has a 1 year low of $30.33 and a 1 year high of $52.00.
General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 31st. The auto manufacturer reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.44. The business had revenue of $43.11 billion for the quarter, compared to the consensus estimate of $40.62 billion. General Motors had a return on equity of 16.08% and a net margin of 6.34%. The business's revenue was up 28.4% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS.
General Motors Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Friday, March 3rd will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, March 2nd. General Motors's dividend payout ratio (DPR) is presently 5.87%.
Hedge Funds Weigh In On General Motors
Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust boosted its holdings in shares of General Motors by 3.1% in the third quarter. Parkside Financial Bank & Trust now owns 8,871 shares of the auto manufacturer's stock worth $285,000 after buying an additional 265 shares during the period. Weik Capital Management boosted its stake in General Motors by 3.1% in the 1st quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer's stock worth $397,000 after purchasing an additional 275 shares during the period. Penserra Capital Management LLC grew its position in General Motors by 85.8% during the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer's stock worth $26,000 after purchasing an additional 283 shares in the last quarter. Herbst Group LLC raised its stake in General Motors by 0.5% during the 4th quarter. Herbst Group LLC now owns 64,490 shares of the auto manufacturer's stock valued at $2,169,000 after purchasing an additional 290 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of General Motors by 2.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,755 shares of the auto manufacturer's stock valued at $557,000 after purchasing an additional 294 shares in the last quarter. Institutional investors and hedge funds own 78.92% of the company's stock.
General Motors Company Profile
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General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.
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