General Motors (NYSE:GM) Receives $56.38 Consensus Target Price from Brokerages

General Motors (NYSE:GM) (TSE:GMM.U) has been given an average rating of “Moderate Buy” by the twenty-one research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $55.27.

GM has been the topic of a number of analyst reports. Bank of America reiterated a “buy” rating and issued a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. Mizuho upped their price target on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group increased their target price on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Morgan Stanley cut General Motors from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $46.00 to $47.00 in a report on Wednesday, July 24th. Finally, Royal Bank of Canada increased their target price on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd.

General Motors Stock Up 5.1 %

Shares of General Motors stock opened at $42.73 on Friday. The stock has a 50-day simple moving average of $46.21 and a 200-day simple moving average of $43.39. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50. The firm has a market cap of $48.75 billion, a price-to-earnings ratio of 5.22, a P/E/G ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.91 EPS. On average, equities research analysts expect that General Motors will post 9.94 earnings per share for the current fiscal year.

General Motors declared that its board has initiated a stock buyback plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 1.12%. General Motors’s payout ratio is 5.87%.

Insider Activity

In other news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the completion of the transaction, the chief executive officer now directly owns 898,648 shares in the company, valued at $43,431,657.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other General Motors news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the sale, the chief executive officer now owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,152,621 shares of company stock worth $51,818,111. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

A number of hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. lifted its stake in General Motors by 12.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,428,348 shares of the auto manufacturer’s stock worth $66,361,000 after purchasing an additional 156,543 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new stake in General Motors in the 2nd quarter worth $1,077,000. Parallel Advisors LLC lifted its stake in General Motors by 25.7% in the 2nd quarter. Parallel Advisors LLC now owns 14,369 shares of the auto manufacturer’s stock worth $668,000 after purchasing an additional 2,934 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in General Motors in the 2nd quarter worth $383,000. Finally, SYM FINANCIAL Corp purchased a new stake in shares of General Motors during the 2nd quarter valued at about $243,000. Institutional investors own 92.67% of the company’s stock.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.