General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) saw its short-selling rate fall sharply in August. As of August 31, there were a total of 22,660,000 shares shorted, down 16.4% from the August 15 total of 27.1 million shares. Based on his average daily trading volume of 14,870,000 shares, the current short-term interest rate is 1.5 days.
Analyst upgrades and downgrades
GM has been the topic of many research reports. Goldman Sachs Group Inc. lowered its price target on General Motors shares from $59.00 to $46.00 and gave it a Buy rating in its research notes on Wednesday, June 1. Daiwa Capital Markets lowered its price target on General Motors stock to $35.00 and gave it an “outperform” rating in its research report on Wednesday, July 27. Deutsche Bank downgraded General Motors stock from a ‘buy’ rating to a ‘hold’ rating in his July 18 research report. Bank of America lowered its price target on General Motors stock to $90.00 from $95.00 and gave the stock a Buy rating in its research report on Friday, Sept. 9. Finally, Wells Fargo & Company lowered its price target on General Motors stock from $33.00 to $29.00 in its Monday, July 11 research report, giving the stock an “underweight” rating. One research analyst gave a sell rating, six gave a hold rating, and 14 gave a buy rating. According to MarketBeat data, General Motors currently has an average “moderate buy” rating and an average price target of $55.78.
Institutional investors focus on General Motors
A number of large investors have recently bought and sold GM stock. Tyler Stone Wealth Management bought $34,000 worth of new General Motors stock in the fourth quarter. Benjamin F. Edwards & Company Inc. bought $26,000 worth of his new General Motors stock in the first quarter. SJS Investment Consulting Inc. increased his holding in General Motors stock by 220.2% in the first quarter. He now owns 602 shares of the automaker worth $27,000 after SJS Investment Consulting Inc. bought an additional 414 shares of him last quarter. Pensera Capital Management LLC increased his stake in General Motors stock by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of automaker stock worth $26,000 after purchasing an additional 283 shares last quarter. Finally, IronBridge Private Wealth LLC purchased $38,000 worth of new General Motors stock in the fourth quarter. Currently 79.59% of the shares are owned by institutional investors and hedge funds.
General Motors fell 1.7%
GM shares fell $0.69 during Friday’s trading hours to reach $39.97. 20,899,628 shares of the company’s stock were hand traded, compared to an average turnover of 14,783,598. His 12-month low at General Motors is $30.33 and his 12-month high is $67.21. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt to equity ratio of 1.14. The stock has a 50-day simple moving average of $37.30 and a 200-day simple moving average of $38.09. The stock has a market cap of $58.28 billion, a PE ratio of 7.58, a P/E ratio of 0.60, and a beta of 1.23.
General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last reported quarterly earnings data on Tuesday, July 26. The automaker reported earnings of $1.14 per share for the quarter, missing consensus expectations of $1.56 ($0.42). General Motors’ return on equity was 13.82% and net profit margin was 6.66%. The company’s revenue for the quarter was $35.76 billion, compared with analyst estimates of $34.35 billion. During the same quarter last year, the company made his $1.97 earnings per share. The company’s quarterly revenue increased by 4.6% compared to the same quarter last year. On average, sell-side analysts expect General Motors to put his EPS at 6.79 this year.
General Motors Cuts Dividend
The business recently announced a quarterly dividend, which was paid on Thursday, September 15th. A dividend of $0.09 was issued to shareholders of record on Wednesday, August 31st. This represents his $0.36 dividend and his 0.90% yield on an annual basis. The ex-dividend date was Tuesday, August 30. General Motors’ dividend payout ratio is 6.83%.
General Motors Company Profile
(get rating)
General Motors Company designs, manufactures and markets trucks, crossovers, passenger cars, automotive parts and accessories in North America, Asia Pacific, Middle East, Africa, South America, United States and China. The company operates through its GM North America, GM International, Cruise, and GM Financial segments.
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