General Motors (NYSE:GM) Receives $68.23 Consensus PT from Analysts

General Motors (NYSE:GM) (TSE:GMM.U) has received an average recommendation of “Buy” from the twenty-three brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $67.95.

A number of brokerages have recently commented on GM. Wedbush started coverage on General Motors in a research note on Thursday, July 8th. They issued an “outperform” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. upped their price target on General Motors from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, June 4th. Wells Fargo & Company reduced their price target on General Motors from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, September 10th. Barclays reduced their price target on General Motors from $71.00 to $68.00 and set an “overweight” rating for the company in a report on Monday. Finally, Jefferies Financial Group reduced their price target on General Motors from $68.00 to $53.00 and set a “hold” rating for the company in a report on Monday, August 9th.

A number of institutional investors have recently modified their holdings of GM. OLD Mission Capital LLC purchased a new position in General Motors in the third quarter worth approximately $205,000. Kovack Advisors Inc. purchased a new position in General Motors in the first quarter worth approximately $411,000. Commonwealth Equity Services LLC grew its position in General Motors by 25.7% in the first quarter. Commonwealth Equity Services LLC now owns 309,010 shares of the auto manufacturer’s stock worth $17,755,000 after acquiring an additional 63,086 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of General Motors by 6.0% during the first quarter. Envestnet Asset Management Inc. now owns 621,958 shares of the auto manufacturer’s stock worth $35,738,000 after buying an additional 35,360 shares during the period. Finally, Roosevelt Investment Group LLC boosted its position in shares of General Motors by 13.7% during the first quarter. Roosevelt Investment Group LLC now owns 7,346 shares of the auto manufacturer’s stock worth $422,000 after buying an additional 885 shares during the period. Institutional investors own 79.91% of the company’s stock.

Shares of GM opened at $50.74 on Friday. General Motors has a 52 week low of $28.24 and a 52 week high of $64.30. The company has a quick ratio of 0.93, a current ratio of 1.10 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $73.66 billion, a price-to-earnings ratio of 5.87, a PEG ratio of 0.81 and a beta of 1.28. The stock’s 50-day moving average price is $53.10 and its 200-day moving average price is $56.38.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Wednesday, August 4th. The auto manufacturer reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.08. General Motors had a return on equity of 25.11% and a net margin of 9.13%. The firm had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $29.66 billion. During the same quarter in the prior year, the business earned ($0.50) earnings per share. The company’s revenue was up 103.8% compared to the same quarter last year. As a group, equities analysts anticipate that General Motors will post 6.2 EPS for the current fiscal year.

About General Motors

General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

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Analyst Recommendations for General Motors (NYSE:GM)

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