Q3 EPS Estimates for General Motors Lowered by Analyst

General Motors (NYSE:GM) (TSE:GMM.U) – Equities research analysts at Zacks Research lowered their Q3 2024 earnings estimates for shares of General Motors in a report issued on Monday, October 21st. Zacks Research analyst R. Singhi now anticipates that the auto manufacturer will earn $2.54 per share for the quarter, down from their previous estimate of $2.59. The consensus estimate for General Motors’ current full-year earnings is $9.95 per share. Zacks Research also issued estimates for General Motors’ FY2024 earnings at $9.93 EPS, Q3 2025 earnings at $2.43 EPS, FY2025 earnings at $10.33 EPS, Q3 2026 earnings at $2.50 EPS and FY2026 earnings at $10.48 EPS.

GM has been the topic of several other reports. Wolfe Research assumed coverage on shares of General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Sanford C. Bernstein lowered shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a research note on Monday, September 23rd. UBS Group raised their price target on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush boosted their price objective on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group raised their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.97.

General Motors Stock Performance

NYSE:GM opened at $52.91 on Tuesday. The firm has a market capitalization of $60.37 billion, a PE ratio of 6.47, a PEG ratio of 0.56 and a beta of 1.42. The stock’s fifty day moving average is $47.52 and its 200 day moving average is $46.09. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.19. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the previous year, the firm posted $2.28 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. General Motors’s payout ratio is 5.87%.

Insider Buying and Selling at General Motors

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GM. SJS Investment Consulting Inc. raised its holdings in shares of General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after purchasing an additional 203 shares during the last quarter. Allworth Financial LP raised its stake in shares of General Motors by 2.3% during the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after buying an additional 205 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of General Motors by 3.5% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after buying an additional 227 shares during the period. Finally, Institute for Wealth Management LLC. boosted its stake in shares of General Motors by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after buying an additional 230 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

About General Motors

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.