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GM's earnings beat, forecast lift shares; supply glut shrinks

25 October 2017

Sol Management Co has 0.1% invested in General Motors Company (NYSE:GM). The institutional investor held 95,324 shares of the auto manufacturing company at the end of 2017Q2, valued at $1.07M, down from 371,565 at the end of the previous reported quarter. Franklin Parlapiano Turner & Welch LLC bought a new stake in General Motors during the first quarter valued at about $106,000. FNY Managed Accounts LLC acquired a new position in General Motors during the 1st quarter valued at about $107,000. Finally, Ffcm LLC boosted its holdings in General Motors by 2,008.1% during the second quarter. Morgan Stanley raised shares of General Motors Company from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $29.00 to $37.00 in a research note on Monday, September 19th.

Having outperformed expectations, GM has seen their share price tick up by 2.21%, at the time of writing, to $46.15. The firm has a 50-day moving average price of $41.53 and a 200-day moving average price of $36.38. The company has a market capitalization of $48.44 billion, a PE ratio of 12.837 and a beta of 1.12. General Motors Company has a one year low of $30.21 and a one year high of $46.76.

Looking at a net income basis, GM lost over $3 billion, but that also reflected accounting charges of $5.4 billion for its sale of the Vauxhall and Opel brands in Europe to PSA Group. The auto manufacturer reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.43 by $0.13. During the same period in the prior year, the business posted $1.50 earnings per share. That's in-line with analysts' view of $6.16 per share for the year. The business's quarterly revenue was down 16.6% compared to the same quarter past year. Despite the negative connotation to that figure, the results beat Wall Street analysts' expectations, with the majority of the negative figures surrounding the sale of the company's European assets. Investors of record on Wednesday, December 7th were given a dividend of $0.38 per share. This dividend amount was represent a yield of $3.35. Also, EVP Craig B. Glidden sold 192,954 shares of the business's stock in a transaction that occurred on Monday, October 2nd. The rating was downgraded by Standpoint Research to "Hold" on Thursday, September 14. They issued an "overweight" rating and a $40.00 price target on the stock. The rating was upgraded by Bank of America to "Buy" on Tuesday, October 3. Ftb Advsr holds 0.27% of its portfolio in General Motors Company (NYSE:GM) for 70,636 shares. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. If we consider a median price to earnings ratio on the stock, that corresponds with a stock price of 7.76. If you are reading this piece on another site, it was stolen and republished in violation of United States & global trademark & copyright legislation. RBC Capital Markets maintained General Motors Company (NYSE:GM) on Friday, July 22 with "Sector Perform" rating. Gofen Glossberg Ltd Company Il invested in 0.01% or 14,783 shares. Discounts as a percentage of the average transaction price totaled 13.7 per cent, slightly above the industry average. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Piper Jaffray initiated Ford Motor Company (NYSE:F) rating on Friday, June 10. The fund owned 2,341,628 shares of the auto manufacturer's stock after selling 25,625 shares during the period.

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GM's earnings beat, forecast lift shares; supply glut shrinks