Mizuho Has Lowered Expectations for General Motors (NYSE:GM) Stock Price

General Motors (NYSE:GM) (TSE:GMM.U) had its price target trimmed by Mizuho from $63.00 to $55.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the auto manufacturer’s stock.

A number of other brokerages have also issued reports on GM. JPMorgan Chase & Co. reduced their target price on General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Cowen started coverage on General Motors in a report on Thursday, March 6th. They set a “buy” rating for the company. UBS Group reiterated a “neutral” rating and issued a $51.00 price target (down previously from $64.00) on shares of General Motors in a report on Thursday. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.33.

General Motors Price Performance

Shares of GM stock opened at $43.65 on Thursday. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a market capitalization of $43.43 billion, a price-to-earnings ratio of 7.10, a PEG ratio of 0.67 and a beta of 1.27. The stock’s 50-day simple moving average is $47.36 and its 200-day simple moving average is $50.35.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, equities analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s payout ratio is presently 7.80%.

General Motors announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GM. Golden State Wealth Management LLC purchased a new stake in shares of General Motors during the fourth quarter worth $25,000. Crews Bank & Trust acquired a new position in General Motors during the fourth quarter worth about $26,000. Compass Planning Associates Inc acquired a new position in General Motors during the fourth quarter worth about $27,000. Duncker Streett & Co. Inc. grew its stake in General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 498 shares in the last quarter. Finally, Whittier Trust Co. raised its holdings in General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 425 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.