Sunday, 20 October, 2019

General Motors Company (GM) Earnings Beat Estimates, Stock Jumps

Russell Knight | 06 February, 2018, 20:58

On that basis, analysts had expected earnings per share of US$1.38.

"Today's General Motors profit sharing, established under the 2015 contract negotiations, recognizes that UAW GM members' hard work is an essential part of General Motors sales and profits", UAW vice president Cindy Estrada said in a statement. UBS Group restated a buy rating and issued a $50.00 price objective (up previously from $39.00) on shares of General Motors in a research report on Wednesday, October 11th.

Excluding one time items, the company reported income of $3.1 billion for the quarter. 10,157,898 shares of the company were exchanged, compared to its average volume of 12,941,072. General Motors has a twelve month low of $31.92 and a twelve month high of $46.76. TLP Group LLC now owns 19,700 shares of the auto manufacturer's stock worth $688,000 after purchasing an additional 7,200 shares in the last quarter. Rafferty Asset Management LLC now owns 14,614 shares of the auto manufacturer's stock worth $510,000 after purchasing an additional 2,280 shares in the last quarter. Two analysts have issued estimates for General Motors' earnings, with the highest EPS estimate coming in at $1.52 and the lowest estimate coming in at $1.11. Fayez Sarofim & Co. acquired a new position in General Motors in the third quarter valued at approximately $202,000.

On 12/4/2017 Barry L Engle II, Insider, sold 50,443 with an average share price of $43.08 per share and the total transaction amounting to $2,173,084.44.

However, adjusted earnings for the quarter were $1.65 per share, compared to $1.36 per share past year. The company has a market capitalization of $58,010.00, a P/E ratio of 8.86, a price-to-earnings-growth ratio of 0.73 and a beta of 1.59. The return on assets stands at 1.4%, Return on Equity now is 7% and the Return on Investment value is 6%. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Without charges, the company made $2.4 billion, or $1.65 per share, soundly beating analyst estimates of $1.39. Stockholders of record on Friday, March 9th will be issued a dividend of $0.38 per share. Under Barra, the stock has become a regular income play, a dividend now yielding 3.7%, and usually sustained by earnings several times over.

General Motors Company is engaged in the designing, manufacturing and retailing of vehicles globally including passenger cars, crossover vehicles, and light trucks, sport utility vehicles, vans and other vehicles. Insiders sold a total of 168,847 shares of company stock worth $7,363,108 in the last ninety days.

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General Motors Company is headquartered in Detroit, Michigan, the United States of America.

GM said results had improved across all segments, with its South American division finally returning to profitability during the second half of the year. The CEO is emphasizing developing self-driving vehicles.

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