General Motors Corp (GM)

[chmcnfunds]

General Motors Company Coverage Initiated by Analysts at Credit Suisse (GM)

Posted by Nolan Pearson on Aug 13th, 2014 // 0 Comments

Equities research analysts at Credit Suisse initiated coverage on shares of General Motors Company (NYSE:GM) in a research note issued to investors on Wednesday. The firm set an “underperform” rating on the stock.
General Motors Company (NYSE:GM) traded up 0.74% during mid-day trading on Wednesday, hitting $33.95. The stock had a trading volume of 7,120,400 shares. General Motors Company has a one year low of $31.70 and a one year high of $41.85. The stock has a 50-day moving average of $36.03 and a 200-day moving average of $35.38. The company has a market cap of $54.479 billion and a P/E ratio of 28.27. General Motors Company also was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 36,892,668 shares, a drop of 15.4% from the July 15th total of 43,613,304 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average trading volume of 15,755,205 shares, the days-to-cover ratio is presently 2.3 days.
General Motors Company (NYSE:GM) last released its earnings data on Thursday, July 24th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.95 by $0.37. The company had revenue of $39.60 billion for the quarter, compared to the consensus estimate of $40.63 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts expect that General Motors Company will post $2.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Monday, September 8th.
A number of other analysts have also recently weighed in on GM. Analysts at Zacks reiterated a “neutral” rating on shares of General Motors Company in a research note on Friday, July 25th. They now have a $38.00 price target on the stock. Separately, analysts at Credit Agricole downgraded shares of General Motors Company from a “buy” rating to an “outperform” rating in a research note on Friday, July 25th. They now have a $40.00 price target on the stock, down previously from $45.00. Finally, analysts at Deutsche Bank downgraded shares of General Motors Company from a “buy” rating to a “hold” rating in a research note on Friday, July 25th. They now have a $41.00 price target on the stock, up previously from $34.93. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $41.35.
General Motors Corporation (NYSE:GM) designs, build and sell cars, trucks and automobiles parts globally.
__________________________________
http://www.wkrb13.com/markets/355277/general-motors-company-coverage-initiated-by-analysts-at-credit-suisse-gm/

The rating by Credit Suisse provided a go opportunity to buy in today.

GM