Nomura Drops Coverage on General Motors (GM)

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Nomura dropped coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research note released on Tuesday.

Other analysts have also issued reports about the company. Morgan Stanley cut their price target on General Motors from $50.00 to $46.00 and set an overweight rating on the stock in a research note on Friday, August 17th. Goldman Sachs Group set a $36.00 price target on General Motors and gave the company a neutral rating in a research note on Tuesday, September 11th. Citigroup cut their price target on General Motors from $60.00 to $57.00 and set a buy rating on the stock in a research note on Thursday, October 4th. ValuEngine downgraded General Motors from a hold rating to a sell rating in a research report on Tuesday, September 4th. Finally, Royal Bank of Canada raised their price objective on General Motors from $52.00 to $53.00 and gave the stock an outperform rating in a research report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. General Motors presently has an average rating of Buy and a consensus target price of $46.38.

NYSE:GM traded down $0.87 during trading hours on Tuesday, reaching $35.70. 9,036,634 shares of the stock were exchanged, compared to its average volume of 15,505,976. General Motors has a twelve month low of $30.56 and a twelve month high of $45.52. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.75. The company has a market cap of $52.05 billion, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 0.70 and a beta of 1.25.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.62. General Motors had a return on equity of 25.81% and a net margin of 0.56%. The business had revenue of $35.79 billion for the quarter, compared to analysts’ expectations of $34.85 billion. During the same quarter in the prior year, the business earned $1.32 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, analysts anticipate that General Motors will post 6.17 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, December 7th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 4.26%. General Motors’s payout ratio is currently 22.96%.

Hedge funds have recently modified their holdings of the business. Vicus Capital increased its holdings in General Motors by 15.8% in the second quarter. Vicus Capital now owns 25,558 shares of the auto manufacturer’s stock worth $1,007,000 after purchasing an additional 3,483 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of General Motors by 21.6% during the third quarter. Nikko Asset Management Americas Inc. now owns 346,829 shares of the auto manufacturer’s stock valued at $11,868,000 after acquiring an additional 61,723 shares in the last quarter. Trilogy Capital Inc. increased its holdings in shares of General Motors by 32.3% during the second quarter. Trilogy Capital Inc. now owns 21,586 shares of the auto manufacturer’s stock valued at $850,000 after acquiring an additional 5,265 shares in the last quarter. Covenant Multifamily Offices LLC increased its holdings in shares of General Motors by 82.6% during the second quarter. Covenant Multifamily Offices LLC now owns 144,404 shares of the auto manufacturer’s stock valued at $5,690,000 after acquiring an additional 65,343 shares in the last quarter. Finally, Pegasus Partners Ltd. increased its holdings in shares of General Motors by 13.3% during the second quarter. Pegasus Partners Ltd. now owns 41,923 shares of the auto manufacturer’s stock valued at $1,652,000 after acquiring an additional 4,934 shares in the last quarter. Institutional investors and hedge funds own 73.90% of the company’s stock.

General Motors Company Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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