Q2 2020 EPS Estimates for General Motors Decreased by Seaport Global Securities (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Stock analysts at Seaport Global Securities reduced their Q2 2020 earnings estimates for General Motors in a research note issued on Friday, August 2nd. Seaport Global Securities analyst M. Ward now expects that the auto manufacturer will post earnings per share of $1.85 for the quarter, down from their previous estimate of $1.87. Seaport Global Securities also issued estimates for General Motors’ Q3 2020 earnings at $1.64 EPS and Q4 2020 earnings at $1.67 EPS.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Thursday, August 1st. The auto manufacturer reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.21. The business had revenue of $36.06 billion for the quarter, compared to the consensus estimate of $36.03 billion. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 earnings per share.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Citigroup increased their price target on shares of General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their price target on shares of General Motors to $52.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. ValuEngine upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Credit Suisse Group initiated coverage on shares of General Motors in a research report on Wednesday, June 26th. They set an “outperform” rating and a $48.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. General Motors currently has an average rating of “Buy” and a consensus price target of $47.58.

Shares of General Motors stock opened at $39.08 on Monday. General Motors has a 12-month low of $30.56 and a 12-month high of $41.90. The stock has a market capitalization of $56.42 billion, a P/E ratio of 6.26, a price-to-earnings-growth ratio of 0.67 and a beta of 1.39. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.83 and a current ratio of 0.96. The stock has a 50-day moving average price of $38.92.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Thursday, September 5th. General Motors’s payout ratio is 23.24%.

In related news, President Mark L. Reuss sold 275,944 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $40.03, for a total value of $11,046,038.32. Following the completion of the sale, the president now owns 479,413 shares of the company’s stock, valued at $19,190,902.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.51% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GM. BlackRock Inc. lifted its position in General Motors by 6.7% during the first quarter. BlackRock Inc. now owns 83,427,385 shares of the auto manufacturer’s stock valued at $3,095,158,000 after buying an additional 5,215,771 shares during the period. Greenhaven Associates Inc. purchased a new position in General Motors during the first quarter valued at $754,274,000. Geode Capital Management LLC lifted its position in General Motors by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 16,309,521 shares of the auto manufacturer’s stock valued at $544,715,000 after buying an additional 1,217,986 shares during the period. Northern Trust Corp lifted its position in General Motors by 0.6% during the first quarter. Northern Trust Corp now owns 14,222,304 shares of the auto manufacturer’s stock valued at $527,647,000 after buying an additional 88,947 shares during the period. Finally, Janus Henderson Group PLC lifted its position in General Motors by 2.6% during the first quarter. Janus Henderson Group PLC now owns 9,790,204 shares of the auto manufacturer’s stock valued at $363,227,000 after buying an additional 251,311 shares during the period. 76.62% of the stock is owned by institutional investors.

General Motors Company Profile

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

Further Reading: Price to Earnings Ratio (PE)

Earnings History and Estimates for General Motors (NYSE:GM)

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