Royal Bank of Canada Reiterates Buy Rating for General Motors (NYSE:GM)

Royal Bank of Canada reaffirmed their buy rating on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research note released on Sunday, AnalystRatings.com reports. Royal Bank of Canada currently has a $49.00 target price on the auto manufacturer’s stock.

A number of other brokerages have also recently weighed in on GM. ValuEngine upgraded shares of General Motors from a sell rating to a hold rating in a research note on Thursday, October 31st. Barclays dropped their price objective on shares of General Motors from $51.00 to $48.00 and set an overweight rating on the stock in a research note on Wednesday, October 2nd. UBS Group upped their target price on shares of General Motors from $46.00 to $47.00 and gave the company a buy rating in a report on Wednesday, October 2nd. Bank of America set a $55.00 target price on shares of General Motors and gave the stock a buy rating in a research note on Tuesday, October 15th. Finally, Benchmark began coverage on General Motors in a report on Thursday, January 9th. They set a buy rating and a $49.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. General Motors presently has an average rating of Buy and a consensus target price of $46.75.

Shares of NYSE GM opened at $34.91 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43. General Motors has a twelve month low of $33.08 and a twelve month high of $41.90. The stock has a 50 day moving average of $35.90 and a two-hundred day moving average of $37.16. The stock has a market cap of $50.86 billion, a P/E ratio of 5.69, a P/E/G ratio of 0.53 and a beta of 1.37.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.54. The business had revenue of $35.50 billion for the quarter, compared to analyst estimates of $35.21 billion. General Motors had a net margin of 6.19% and a return on equity of 19.78%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm posted $1.87 earnings per share. As a group, research analysts predict that General Motors will post 4.79 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in GM. Man Group plc boosted its holdings in General Motors by 15.0% in the 2nd quarter. Man Group plc now owns 48,299 shares of the auto manufacturer’s stock valued at $1,861,000 after purchasing an additional 6,305 shares in the last quarter. Alberta Investment Management Corp lifted its holdings in shares of General Motors by 25.1% in the 2nd quarter. Alberta Investment Management Corp now owns 147,800 shares of the auto manufacturer’s stock valued at $5,695,000 after buying an additional 29,700 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of General Motors by 285.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 211,115 shares of the auto manufacturer’s stock valued at $8,134,000 after buying an additional 156,329 shares during the period. CSat Investment Advisory L.P. boosted its stake in shares of General Motors by 8.8% in the second quarter. CSat Investment Advisory L.P. now owns 10,868 shares of the auto manufacturer’s stock valued at $419,000 after buying an additional 881 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of General Motors by 5.6% in the second quarter. Victory Capital Management Inc. now owns 315,635 shares of the auto manufacturer’s stock valued at $12,161,000 after buying an additional 16,622 shares in the last quarter. Institutional investors own 75.43% 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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