Buckingham Research Trims General Motors (NYSE:GM) Target Price to $32.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective reduced by Buckingham Research from $35.00 to $32.00 in a research note released on Tuesday, BenzingaRatingsTable reports. They currently have a neutral rating on the auto manufacturer’s stock.

Other research analysts also recently issued research reports about the company. Credit Suisse Group assumed coverage on General Motors in a report on Wednesday, June 26th. They set an outperform rating and a $48.00 price target on the stock. ValuEngine downgraded General Motors from a sell rating to a strong sell rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upped 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. Citigroup upped 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. Finally, Nomura set a $38.00 price target on General Motors and gave the stock a hold rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $47.00.

Shares of GM stock traded up $0.06 on Tuesday, reaching $36.25. 163,258 shares of the company’s stock traded hands, compared to its average volume of 9,190,770. General Motors has a 12-month low of $30.56 and a 12-month high of $41.90. 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 company has a market capitalization of $51.77 billion, a P/E ratio of 5.55, a price-to-earnings-growth ratio of 0.51 and a beta of 1.40. The business’s 50 day moving average price is $36.96 and its two-hundred day moving average price is $37.71.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.21. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The business had revenue of $36.06 billion for the quarter, compared to the consensus estimate of $36.03 billion. During the same quarter in the previous year, the company posted $1.81 earnings per share. General Motors’s revenue for the quarter was down 1.9% compared to the same quarter last year. Research analysts predict that General Motors will post 6.58 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.52 annualized dividend and a yield of 4.19%. General Motors’s dividend payout ratio (DPR) is 23.24%.

In other news, President Mark L. Reuss sold 275,944 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $40.03, for a total value of $11,046,038.32. Following the sale, the president now directly owns 479,413 shares in the company, valued at approximately $19,190,902.39. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Matthew Tsien sold 16,933 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $39.50, for a total value of $668,853.50. Following the completion of the sale, the executive vice president now owns 18,533 shares in the company, valued at $732,053.50. 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. Insiders own 0.51% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in GM. Next Capital Management LLC acquired a new stake in shares of General Motors in the second quarter valued at approximately $25,000. Trust Co. of Vermont raised its position in General Motors by 101.2% during the second quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock valued at $26,000 after purchasing an additional 335 shares in the last quarter. Advisors Preferred LLC acquired a new position in General Motors during the second quarter valued at approximately $26,000. Massey Quick Simon & CO. LLC acquired a new position in General Motors during the third quarter valued at approximately $26,000. Finally, Webster Bank N. A. raised its position in General Motors by 253.5% during the second quarter. Webster Bank N. A. now owns 700 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 502 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

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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Analyst Recommendations for General Motors (NYSE:GM)

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