General Motors (NYSE:GM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Posted by on May 5th, 2023

Shares of General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) have been assigned a consensus rating of “Moderate Buy” from the nineteen research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $49.00.

GM has been the subject of several research reports. Berenberg Bank lowered General Motors from a “buy” rating to a “hold” rating and reduced their price objective for the company from $45.00 to $41.00 in a report on Monday, January 30th. Barclays reduced their price objective on General Motors from $45.00 to $42.00 in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Motors from $37.00 to $35.00 in a report on Wednesday, April 26th. Citigroup reduced their price objective on General Motors from $82.00 to $76.00 and set a “buy” rating for the company in a report on Monday, March 27th. Finally, Morgan Stanley upgraded General Motors from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $38.00 in a research report on Monday.

General Motors Stock Performance

Shares of GM opened at $31.69 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.93 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $44.05 billion, a price-to-earnings ratio of 4.90, a PEG ratio of 0.48 and a beta of 1.34. The stock has a 50 day moving average of $35.42 and a 200 day moving average of $37.12. General Motors has a 12 month low of $30.33 and a 12 month high of $43.63.

General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 25th. The auto manufacturer reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.68. General Motors had a return on equity of 15.74% and a net margin of 5.84%. The business had revenue of $39.99 billion during the quarter, compared to analyst estimates of $39.38 billion. During the same period in the prior year, the company earned $2.09 earnings per share. General Motors’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that General Motors will post 6.89 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Friday, June 2nd will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 1st. General Motors’s dividend payout ratio is currently 5.56%.

Insiders Place Their Bets

In other General Motors news, EVP Gerald Johnson sold 15,743 shares of the firm’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $42.65, for a total transaction of $671,438.95. Following the sale, the executive vice president now owns 71,209 shares in the company, valued at $3,037,063.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On General Motors

Large investors have recently modified their holdings of the company. Aspire Private Capital LLC purchased a new position in shares of General Motors during the 1st quarter valued at about $14,600,291,000. Penserra Capital Management LLC increased its stake in General Motors by 85.8% in the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 283 shares during the period. Venturi Wealth Management LLC purchased a new position in General Motors in the 1st quarter worth approximately $25,000. BerganKDV Wealth Management LLC increased its stake in General Motors by 379.2% in the 1st quarter. BerganKDV Wealth Management LLC now owns 714 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 565 shares during the period. Finally, Ahrens Investment Partners LLC purchased a new position in General Motors in the 1st quarter worth approximately $29,000. 78.92% of the stock is owned by hedge funds and other institutional investors.

General Motors Company Profile

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General Motors Co engages in the designing, manufacturing, and selling of trucks, crossovers, cars, and automobile parts and in providing software-enabled services and subscriptions. It operates through the following segments: GMNA, GMI, Cruise, and GM Financial. The company was founded by William C.

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Analyst Recommendations for General Motors (NYSE:GM)

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