Markets

GM 4Q profit hurt by China sales drop

GM 4Q profit hurt by China sales drop

Vanguard Group Inc now owns 96,849,509 shares of the auto manufacturer's stock worth $3,260,923,000 after buying an additional 2,699,178 shares in the last quarter.

Employees from two other plants will "have transfer opportunities closer to their end of production dates", GM said in a document appended to earnings. Advisors Preferred LLC acquired a new position in shares of General Motors during the fourth quarter worth $31,000. Cambridge Investment Research Advisors Inc. now owns 129,361 shares of the auto manufacturer's stock valued at $4,356,000 after purchasing an additional 11,139 shares during the last quarter. Capital World Investors lifted its holdings in shares of General Motors by 15.4% during the third quarter. Finally, Supplemental Annuity Collective Trust of NJ grew its holdings in General Motors by 27.3% during the 4th quarter. Finally, Gradient Investments LLC lifted its holdings in shares of General Motors by 89.7% during the fourth quarter. Following these latest developments, around 0.70% of Square, Inc. stocks are owned by institutional investors and hedge funds.

Shares of GM stock traded up $0.29 on Wednesday, hitting $39.59.

Shares of General Motors Company have risen 19.31% so far in 2019 compared with an 8.97% gain for the benchmark index, S&P 500 (SPX). General Motors has a 1 year low of $30.56 and a 1 year high of $45.00.

The Detroit-based company is trying to manage what CEO Barra described as an "increasingly challenging" market in China. The firm has a market cap of $55.47 billion, a PE ratio of 6.03, a PEG ratio of 0.74 and a beta of 1.26.




Based on the 2018 full-year results for the company's North America business, General Motors has announced that more than 46,500 eligible USA hourly employees will receive a profit sharing payment of up to $10,750. Excluding restructuring charges, the company's per-share earnings were $1.43, breezing past Wall Street expectations of $1.24. General Motors had a net margin of 0.56% and a return on equity of 25.81%. The company had revenue of $38.40 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter past year, the firm posted $1.65 EPS. The firm's revenue for the quarter was up 1.8% on a year-over-year basis.

CFO 's Dhivya Suryadevara said higher commodity costs in 2018, which partly stemmed from the effect of tariffs on steel and aluminum, hurt the company's bottom line a year ago by more than $1 billion.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. To be more specific, the job cuts will affect staff in General Motors' information technology center located in Arizona, Texas, Michigan and Georgia. Morgan Stanley advised investors in its research note published on August 17th, 2018, to Overweight the GM stock while also putting a $46 price target.

General Motors Company (NYSE:GM) has an ABR of 1.64 which is the combined stock view of 11 analysts poll results. ValuEngine raised shares of General Motors from a "sell" rating to a "hold" rating in a report on Thursday, November 1st. Deutsche Bank assumed coverage on shares of General Motors in a report on Thursday, December 13th. They issued a "buy" rating for the company. The consensus now stands at a Hold while its average price target is $45.45. On average, equities analysts predict that General Motors will post 6.3 EPS for the current year.


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