General Motors (NYSE:GM) Issues FY 2024 Earnings Guidance

General Motors (NYSE:GM) (TSE:GMM.U) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 10.000-10.500 for the period, compared to the consensus EPS estimate of 10.000. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group boosted their target price on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research assumed coverage on General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of General Motors in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their price target on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Motors has an average rating of “Hold” and an average price target of $55.35.

General Motors Trading Down 0.5 %

NYSE GM opened at $48.92 on Tuesday. The stock has a market capitalization of $55.81 billion, a P/E ratio of 5.98, a P/E/G ratio of 0.56 and a beta of 1.42. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50. The firm has a 50-day moving average price of $47.13 and a 200 day moving average price of $45.97. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.39. The firm had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.91 earnings per share. Equities research analysts expect that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.98%. General Motors’s payout ratio is currently 5.87%.

Insiders Place Their Bets

In related news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by company insiders.

General Motors Company Profile

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.