FY2024 Earnings Forecast for General Motors Issued By Wedbush (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Analysts at Wedbush lifted their FY2024 EPS estimates for shares of General Motors in a report released on Wednesday, April 24th. Wedbush analyst D. Ives now expects that the auto manufacturer will post earnings per share of $9.53 for the year, up from their prior estimate of $9.00. Wedbush currently has a “Outperform” rating and a $55.00 target price on the stock. The consensus estimate for General Motors’ current full-year earnings is $9.26 per share. Wedbush also issued estimates for General Motors’ Q2 2025 earnings at $2.69 EPS, Q3 2025 earnings at $2.67 EPS and Q4 2025 earnings at $2.71 EPS.

A number of other research analysts have also commented on GM. Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Thursday, January 4th. Redburn Atlantic started coverage on shares of General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 target price on the stock. TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their target price on shares of General Motors from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.38.

General Motors Price Performance

Shares of NYSE:GM opened at $45.62 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The firm has a market capitalization of $52.67 billion, a P/E ratio of 5.58, a P/E/G ratio of 0.53 and a beta of 1.51. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04. The company’s fifty day moving average price is $42.13 and its 200 day moving average price is $36.19.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same period last year, the business earned $2.21 EPS. General Motors’s revenue for the quarter was up 7.6% compared to the same quarter last year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is 5.87%.

Insider Buying and Selling

In related news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,248 shares of company stock valued at $3,614,078. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GM. SouthState Corp boosted its stake in shares of General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares during the period. Highlander Capital Management LLC bought a new position in General Motors during the 4th quarter valued at $27,000. Cape Investment Advisory Inc. boosted its stake in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares during the last quarter. BluePath Capital Management LLC bought a new position in General Motors during the 3rd quarter valued at $33,000. Finally, Sachetta LLC bought a new position in General Motors during the 4th quarter valued at $33,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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.