Brokers Set Expectations for General Motors’ Q2 2018 Earnings (GM)
General Motors (NYSE:GM) (TSE:GMM.U) – Equities researchers at Piper Jaffray raised their Q2 2018 earnings per share estimates for General Motors in a note issued to investors on Thursday, April 26th. Piper Jaffray analyst A. Potter now expects that the auto manufacturer will earn $1.76 per share for the quarter, up from their previous forecast of $1.68. Piper Jaffray also issued estimates for General Motors’ Q4 2018 earnings at $1.62 EPS, FY2018 earnings at $6.38 EPS, Q2 2019 earnings at $1.75 EPS, Q3 2019 earnings at $1.87 EPS, Q4 2019 earnings at $1.64 EPS and FY2022 earnings at $8.15 EPS.
GM has been the subject of a number of other research reports. Citigroup reaffirmed a “hold” rating and set a $70.00 target price on shares of General Motors in a research note on Friday. Zacks Investment Research downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 11th. Berenberg Bank set a $34.00 target price on shares of General Motors and gave the company a “sell” rating in a research note on Wednesday, February 7th. Vetr downgraded shares of General Motors from a “strong-buy” rating to a “buy” rating and set a $41.50 target price for the company. in a research note on Thursday, April 5th. Finally, Royal Bank of Canada set a $52.00 target price on shares of General Motors and gave the company a “buy” rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $45.39.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Thursday, April 26th. The auto manufacturer reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.19. General Motors had a negative net margin of 2.58% and a positive return on equity of 22.86%. The company had revenue of $36.10 billion during the quarter, compared to the consensus estimate of $34.67 billion. During the same period in the prior year, the firm earned $1.70 earnings per share. General Motors’s revenue was down 12.4% on a year-over-year basis.
Hedge funds have recently modified their holdings of the stock. Advent Capital Management DE boosted its holdings in General Motors by 30.6% in the fourth quarter. Advent Capital Management DE now owns 198,541 shares of the auto manufacturer’s stock worth $8,138,000 after purchasing an additional 46,541 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in General Motors by 154.4% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,923,200 shares of the auto manufacturer’s stock worth $242,792,000 after purchasing an additional 3,594,700 shares during the last quarter. Norinchukin Bank The boosted its holdings in General Motors by 9.7% in the fourth quarter. Norinchukin Bank The now owns 181,299 shares of the auto manufacturer’s stock worth $7,431,000 after purchasing an additional 16,007 shares during the last quarter. Bell & Brown Wealth Advisors LLC purchased a new stake in General Motors in the fourth quarter worth approximately $1,934,000. Finally, BTC Capital Management Inc. boosted its holdings in General Motors by 17.7% in the fourth quarter. BTC Capital Management Inc. now owns 101,818 shares of the auto manufacturer’s stock worth $4,173,000 after purchasing an additional 15,293 shares during the last quarter. Institutional investors own 73.66% of the company’s stock.
In related news, insider Charles K. Stevens III sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $36.10, for a total value of $1,263,500.00. Following the sale, the insider now owns 67,741 shares in the company, valued at $2,445,450.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Thomas S. Timko sold 8,461 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $42.06, for a total transaction of $355,869.66. Following the completion of the sale, the chief accounting officer now owns 33,519 shares in the company, valued at approximately $1,409,809.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,244,405 shares of company stock worth $1,598,394,926. Corporate insiders own 0.04% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 8th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, June 7th. General Motors’s payout ratio is 22.96%.
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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