Q2 2024 Earnings Forecast for General Motors (NYSE:GM) Issued By Zacks Research

General Motors (NYSE:GM) (TSE:GMM.U) – Stock analysts at Zacks Research upped their Q2 2024 earnings per share estimates for General Motors in a research note issued on Tuesday, May 7th. Zacks Research analyst R. Singhi now expects that the auto manufacturer will post earnings of $2.19 per share for the quarter, up from their prior estimate of $2.06. The consensus estimate for General Motors’ current full-year earnings is $9.44 per share. Zacks Research also issued estimates for General Motors’ FY2024 earnings at $9.05 EPS.

A number of other research analysts also recently issued reports on GM. Citigroup raised their price target on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Barclays lifted their price objective on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Tigress Financial lifted their price target on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a report on Thursday, February 15th. Finally, Piper Sandler lifted their target price on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.65.

General Motors Stock Performance

GM stock opened at $45.06 on Thursday. The firm has a market cap of $51.41 billion, a P/E ratio of 5.51, a P/E/G ratio of 0.53 and a beta of 1.49. The stock’s 50 day simple moving average is $43.05 and its 200 day simple moving average is $37.11. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17.

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

General Motors Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, June 7th. General Motors’s payout ratio is presently 5.87%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the transaction, the executive vice president now owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock valued at $3,614,078 in the last quarter. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

A number of institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB grew its position in General Motors by 18.5% during the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after acquiring an additional 74,194 shares during the last quarter. Cerity Partners LLC increased its stake in shares of General Motors by 361.1% in the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after buying an additional 93,754 shares in the last quarter. Foundry Partners LLC raised its holdings in shares of General Motors by 15.0% in the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock valued at $12,992,000 after buying an additional 51,336 shares during the last quarter. Public Sector Pension Investment Board lifted its position in General Motors by 10.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after buying an additional 14,002 shares in the last quarter. Finally, AM Squared Ltd grew its holdings in General Motors by 195.0% during the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock worth $1,483,000 after acquiring an additional 27,300 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.