General Motors share price rises despite announcement of huge losses
- Author: Carlos Nash Oct 25, 2017,
Oct 25, 2017, 0:34
Douglas Lane & Associates LLC owned about 0.16% of General Motors worth $95,138,000 at the end of the most recent quarter. The dividend was $0.380 per share for the quarter or $1.52 annualized. Summit X LLC acquired a new position in General Motors in the 3rd quarter valued at about $209,000. More interesting news about General Motors Company (NYSE:GM) were released by: Nasdaq.com and their article: "General Motors (GM) Q3 Earnings & Revenues Beat Estimates" published on October 24, 2017 as well as Forbes.com's news article titled: "What To Expect From General Motors' Q3" with publication date: October 20, 2017. Short shares grew from 37,516,223 to 37,954,007 over that timeframe. Cranbrook Wealth Ltd Liability Com owns 0.06% invested in Ford Motor Company (NYSE:F) for 11,709 shares. Ffcm LLC now owns 3,373 shares of the auto manufacturer's stock valued at $120,000 after acquiring an additional 3,213 shares during the period. The stock rose 2.39% or $1.08 reaching $46.24. The firm has a 50 day moving average of $41.53 and a 200 day moving average 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. The stock of General Motors Company (NYSE:GM) earned "Hold" rating by Jefferies on Tuesday, August 9.
General Motors Company (NYSE:GM) early Tuesday posted better than expected third quarter earnings results, despite a sharp drop in revenue, and reiterated its full-year outlook. Wall Street analysts had forecast earnings of $1.32 per share. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $30.48 billion during the quarter, compared to analysts' expectations of $29.93 billion. Ford Motor's revenue was down.5% compared to the same quarter previous year.
Excluding one-time charges, the company earned $1.32 a share, above analysts' expectations of $1.14. First Citizens National Bank & Tru has 0.34% invested in General Motors Company (NYSE:GM) for 75,929 shares. Shareholders must be on record as of December 8, 2017 to receive the dividend. Ford Motor's payout ratio is 63.16%.More news: Arsene Wenger delivers injury update on Shkodran Mustafi and Laurent Koscielny
Reports Income of $0.1 Billion and EBIT-adjusted of $2.5 Billion from Continuing Operations. Morgan Stanley initiated coverage on shares of General Motors in a research note on Wednesday, June 28th. They set an "overweight" rating and a $40.00 price target for the company. The rating was maintained by Deutsche Bank with "Hold" on Wednesday, October 14. Vetr lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $37.42 price target for the company.in a research report on Monday, July 17th. The rapid shift by U.S. consumers to SUVs and pickup trucks in response to low, stable gasoline prices has left GM with too many North American factories tooled to produce low-profit sedans, analysts said. The stock of General Motors Company (NYSE:GM) has "Outperform" rating given on Monday, January 11 by Credit Suisse.
Over the next several months, the company is planning to introduce a wider range of trucks with a broader selection of features, including off-road capability, said GM CEO Mary Barra on the conference call. If you are reading this piece on another site, it was stolen and republished in violation of United States & global trademark & copyright legislation.
General Motors Company (NYSE:GM) opened at 35.07 on Friday. Kazazian Asset Management Llc bought 15,000 shares as the company's stock declined 12.09% while stock markets rallied. Discounts as a percentage of the average transaction price totaled 13.7 percent, slightly above the industry average, according to Reuters. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.