General Motors (NYSE:GM) Rating Increased to Moderate Buy at CLSA

CLSA upgraded shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U to a moderate buy rating in a research report sent to investors on Monday,Zacks.com reports.

Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a report on Monday, May 5th. Royal Bank Of Canada boosted their target price on shares of General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Piper Sandler reissued a "neutral" rating and set a $48.00 target price (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Finally, Mizuho upped their price target on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has a consensus rating of "Hold" and a consensus target price of $53.35.

General Motors Price Performance

Shares of GM stock traded up $0.38 on Monday, reaching $52.20. 7,522,228 shares of the company were exchanged, compared to its average volume of 12,740,223. The company has a market cap of $50.19 billion, a price-to-earnings ratio of 7.52, a P/E/G ratio of 1.42 and a beta of 1.32. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The business has a 50-day moving average price of $48.75 and a 200 day moving average price of $48.71. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.04 and a current ratio of 1.21.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The firm had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. During the same period in the prior year, the firm earned $2.62 EPS. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were issued a dividend of $0.15 per share. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.15%. General Motors's dividend payout ratio is 8.65%.

Institutional Trading of General Motors

Several institutional investors and hedge funds have recently modified their holdings of the business. Nemes Rush Group LLC grew its stake in shares of General Motors by 18.7% during the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock valued at $73,000 after buying an additional 217 shares during the period. ICONIQ Capital LLC boosted its position in General Motors by 4.2% in the 1st quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer's stock valued at $256,000 after buying an additional 220 shares during the last quarter. Operose Advisors LLC raised its stake in shares of General Motors by 18.7% in the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock valued at $75,000 after purchasing an additional 223 shares in the last quarter. Bessemer Group Inc. raised its stake in General Motors by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after acquiring an additional 226 shares during the period. Finally, Hohimer Wealth Management LLC raised its stake in General Motors by 0.3% during the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock worth $3,310,000 after acquiring an additional 230 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.