Citigroup Inc. Reiterates “Buy” Rating for General Motors Company (GM)

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General Motors Company (NYSE:GM)‘s stock had its “buy” rating reiterated by equities research analysts at Citigroup Inc. in a research note issued to investors on Wednesday. They currently have a $47.00 price target on the stock, down from their previous price target of $48.00. Citigroup Inc.’s target price would indicate a potential upside of 42.12% from the stock’s previous close.

General Motors Company (NYSE:GM) traded up 1.30% during mid-day trading on Wednesday, hitting $33.50. The stock had a trading volume of 4,428,217 shares. General Motors Company has a 52-week low of $31.13 and a 52-week high of $41.85. The stock has a 50-day moving average of $34.21 and a 200-day moving average of $36.77. The company has a market cap of $53.725 billion and a price-to-earnings ratio of 17.67.

General Motors Company (NYSE:GM) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.23. The company had revenue of $37.40 billion for the quarter, compared to the consensus estimate of $38.43 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts expect that General Motors Company will post $3.17 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Friday, June 6th.

A number of other analysts have also recently weighed in on GM. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of General Motors Company in a research note on Wednesday. They now have a $33.00 price target on the stock. Separately, analysts at Craig Hallum downgraded shares of General Motors Company from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. They now have a $37.00 price target on the stock, down previously from $41.00. Finally, analysts at Bank of America reiterated a “buy” rating on shares of General Motors Company in a research note on Wednesday, April 23rd. They now have a $43.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $41.23.

General Motors Corporation (NYSE:GM) designs, build and sell cars, trucks and automobiles parts globally.

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