General Motors Posts 32% Drop in Earnings for Third Quarter

Posted October 25, 2017

Based on current stock levels, General Motors Company shares are trading 0.41% off of the 50-day high and 33.78% away from the 50-day low. The firm's revenue was down 16.6% on a year-over-year basis.

In other General Motors news, insider Alicia S. Boler-Davis sold 10,000 shares of the business's stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $41.64, for a total transaction of $8,034,604.56. Following the sale, the vice president now directly owns 10 shares in the company, valued at approximately $110. The disclosure for this sale can be found here.

On 9/13/2017 Alan S Batey, Insider, sold 234,274 with an average share price of $38.04 per share and the total transaction amounting to $8,911,782.96.

GM has been the topic of a number of research reports. The rating was maintained by UBS with "Buy" on Wednesday, October 11. Seaport Global initiated Ford Motor Company (NYSE:F) rating on Tuesday, August 9. RBC Capital Markets maintained General Motors Company (NYSE:GM) rating on Thursday, October 5.

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On September 25 the company was upgraded from "Hold" to "Buy" in a report issued by Deutsche Bank. However, the sales were stronger than the expected $32.72 billion by analysts. The high was posted this morning, and the 12-month price target for the shares was $43.26 before this morning's report.

More notable recent General Motors Company (NYSE:GM) news were published by: Bloomberg.com which released: "GM Jettisons Dinosaur Image as Investors Buy Into Its Mobility Bets" on October 23, 2017, also Cnbc.com with their article: "GM to settle state ignition claims for $120 million" published on October 19, 2017, Seekingalpha.com published: "Should You Sell GM?" on October 16, 2017. Dimensional Fund Advisors LP has invested 0.23% in General Motors Company (NYSE:GM).

Since the start of the calendar year, General Motors Company (NYSE:GM)'s stock has changed 29.59%.

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The company is trading down from yesterday's close of 45.61. BidaskClub lowered shares of General Motors from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, July 25th. The stock's 50 day moving average price is $35.09 and its 200-day moving average price is $32.04. The firm has a market capitalization of $66.97 billion, a P/E ratio of 7.99 and a beta of 1.44. General Motors comprises approximately 2.2% of Gilman Hill Asset Management LLC's holdings, making the stock its 5th biggest position. The auto manufacturer reported $1.32 EPS for the quarter, topping the Zacks' consensus estimate of $1.11 by $0.21. After $0.55 actual EPS reported by CA, Inc. for the previous quarter, Wall Street now forecasts 3.64% EPS growth. The business's quarterly revenue was down 16.6% compared to the same quarter a year ago.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. General Motors's dividend payout ratio is presently 26.48%. The stock of General Motors Company (NYSE:GM) earned "Underweight" rating by Morgan Stanley on Monday, August 24. The company also swung to an operating gain in South America from a loss in the year-ago period.

Baskin Financial Services Inc decreased General Motors Company (GM) stake by 3.35% reported in 2017Q2 SEC filing.

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