General Motors (NYSE:GM - Get Rating) (TSE:GMM.U) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 22,660,000 shares, a decline of 16.4% from the August 15th total of 27,100,000 shares. Based on an average daily volume of 14,870,000 shares, the short-interest ratio is presently 1.5 days.
Analyst Upgrades and Downgrades
GM has been the topic of a number of research reports. The Goldman Sachs Group decreased their price target on shares of General Motors from $59.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, June 1st. Daiwa Capital Markets decreased their target price on shares of General Motors to $35.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating in a research report on Monday, July 18th. Bank of America decreased their target price on shares of General Motors from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, September 9th. Finally, Wells Fargo & Company decreased their target price on shares of General Motors from $33.00 to $29.00 and set an "underweight" rating on the stock in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, General Motors presently has an average rating of "Moderate Buy" and an average price target of $55.78.
Institutional Investors Weigh In On General Motors
A number of large investors have recently bought and sold shares of GM. Tyler Stone Wealth Management bought a new position in shares of General Motors in the fourth quarter valued at $34,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of General Motors in the first quarter valued at $26,000. SJS Investment Consulting Inc. lifted its stake in shares of General Motors by 220.2% in the first quarter. SJS Investment Consulting Inc. now owns 602 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 414 shares in the last quarter. Penserra Capital Management LLC lifted its stake in shares of General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer's stock valued at $26,000 after buying an additional 283 shares in the last quarter. Finally, IronBridge Private Wealth LLC bought a new position in shares of General Motors in the fourth quarter valued at $38,000. 79.59% of the stock is currently owned by institutional investors and hedge funds.
General Motors Trading Down 1.7 %
Shares of GM stock traded down $0.69 during trading hours on Friday, hitting $39.97. 20,899,628 shares of the company's stock traded hands, compared to its average volume of 14,783,598. General Motors has a 12 month low of $30.33 and a 12 month high of $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's 50 day simple moving average is $37.30 and its 200 day simple moving average is $38.09. The stock has a market cap of $58.28 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 0.60 and a beta of 1.23.
General Motors (NYSE:GM - Get Rating) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 26th. The auto manufacturer reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.42). General Motors had a return on equity of 13.82% and a net margin of 6.66%. The firm had revenue of $35.76 billion for the quarter, compared to analyst estimates of $34.35 billion. During the same quarter last year, the company earned $1.97 earnings per share. The company's quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that General Motors will post 6.79 EPS for the current year.
General Motors Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Tuesday, August 30th. General Motors's payout ratio is 6.83%.
General Motors Company Profile
(Get Rating)General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.
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