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

General Motors

Atalanta Sosnoff Lc holds 0.04% of its portfolio in General Motors Company (NYSE:GM) for 35,662 shares. Douglas Lane & Associates LLC boosted its stake in shares of Ford Motor by 4.1% in the 3rd quarter. Indiana-based First In has invested 0.03% in General Motors Company (NYSE:GM). Sterneck Capital Management Llc acquired 39,113 shares as General Mtrs Co (GM)'s stock declined 12.09%. Eagle Management Ltd Limited Liability Company has invested 2.43% of its portfolio in General Motors Company (NYSE:GM). GM says this transaction has led to a $5.4 billion charge against its third quarter results, leading to the overall negative net income. Cap Advsr Limited Limited Liability Company has invested 0% of its portfolio in General Motors Company (NYSE:GM).

The company's P/E ratio is 7.85 and market capitalization is 65.79B.

It is trading at $45.15 barely above $41.53, the stock's 50 day moving average and which is quite a bit higher than the 200 day moving average of $36.38.

Additionally General Motors Company recently announced a dividend for shareholders which was paid on Friday September 22nd, 2017. 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. General Motors Company had a return on equity of 23.22% and a net margin of 8.58%. The business had revenue of $30.48 billion during the quarter, compared to analyst estimates of $29.93 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The business's quarterly revenue was down 16.6% compared to the same quarter past year.


North American largest carmaker, General Motors, Tuesday performed above Wall Street analysts' expectations, with earnings of $33.6 billion, a pre-tax profit of 2.77 billion in the Q3, as against forecast earnings of $32.72 billion. Investors of record on Monday, October 23rd will be issued a $0.15 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.37%. Moreover, Prentiss Smith & has 0.04% invested in General Motors Company (NYSE:GM). F&M Bank had 50 analyst reports since August 7, 2015 according to SRatingsIntel. General Motors comprises approximately 2.2% of Gilman Hill Asset Management LLC's holdings, making the stock its 5th biggest position.

Still, Edward Jones rates GM a "hold" rather than buy or sell. Finally, Morgan Stanley reissued an "overweight" rating and set a $43.00 target price (up from $40.00) on shares of General Motors in a research note on Thursday, September 21st. S&P Research maintained it with "Strong Buy" rating and $119 target in Friday, September 25 report. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock.

In related news, President Daniel Ammann sold 10,000 shares of the stock in a transaction dated Friday, December 9th. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

General Motors will continue to reduce production of passenger cars in order to retool its product mix in favor of the trucks, SUV's and crossovers customers are buying, Chief Financial Officer Chuck Stevens told investors Tuesday. Natixis stated it has 0.21% in General Motors Company (NYSE:GM). The company made just over $2 billion pretax in North America, as well as just under $500 million from its joint venture in China.

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