General Motors Company (NYSE: GM) stock jumped 1.70% on Tuesday to $33.42 against a previous-day closing price of $32.86. With 17.71 million shares changed hands, the volume of the stock remained heavier than its average volume of 14.4 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $33.83 whereas the lowest price it dropped to was $32.94. The 52-week range on GM shows that it touched its highest point at $43.63 and its lowest point at $30.33 during that stretch. It currently has a 1-year price target of $47.49. With its current market cap of 46.80 billion, GM has annualized dividend of $0.36 while the current yield stands at 1.08%. Beta for the stock currently stands at 1.34.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GM was up-trending over the past week, with a rise of 5.96%, but this was down by -2.54% over a month. Three-month performance dropped to -18.27% while six-month performance fell -15.97%. The stock lost -5.59% in the past year, while it has lost -0.65% so far this year. A look at the trailing 12-month EPS for GM yields 6.47 with Next year EPS estimates of 6.52. For the next quarter, that number is 1.67. This implies an EPS growth rate of -8.50% for this year and -4.55% for next year. EPS is expected to grow by 15.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 3.30%.
Float and Shares Shorts:
At present, 1.40 billion GM shares are outstanding with a float of 1.35 billion shares on hand for trading. On Apr 27, 2023, short shares totaled 32.54 million, which was 2.34% higher than short shares on Mar 30, 2023. In addition to Ms. Mary T. Barra as the firm’s Chairman & CEO, Mr. Mark L. Reuss serves as its Pres.
Through their ownership of 84.06% of GM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.62% of GM, in contrast to 41.68% held by mutual funds. Shares owned by individuals account for 15.51%. As the largest shareholder in GM with 7.53% of the stake, The Vanguard Group, Inc. holds 104,668,748 shares worth 104,668,748. A second-largest stockholder of GM, Capital Research & Management Co, holds 78,403,820 shares, controlling over 5.64% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in GM, holding 65,317,863 shares or 4.70% stake. With a 2.94% stake in GM, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 40,907,476 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.34% of GM stock, is the second-largest Mutual Fund holder. It holds 32,560,358 shares valued at 1.08 billion. Washington Mutual Investors Fund holds 2.17% of the stake in GM, owning 30,124,667 shares worth 995.32 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, GM reported revenue of $35.76B and operating income of $2.12B. The EBITDA in the recently reported quarter was $5.22B and diluted EPS was $1.14.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GM analysts setting a high price target of $79.00 and a low target of $30.00, the average target price over the next 12 months is $46.21. Based on these targets, GM could surge 136.39% to reach the target high and fall by -10.23% to reach the target low. Reaching the average price target will result in a growth of 38.27% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GM stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 1,262,164 while 560,345 shares were sold.