General Motors (NYSE:GM - Free Report) TSE: GMM.U - Equities researchers at Zacks Research decreased their Q1 2024 earnings per share estimates for shares of General Motors in a research note issued to investors on Monday, April 22nd. Zacks Research analyst R. Singhi now anticipates that the auto manufacturer will post earnings per share of $1.99 for the quarter, down from their previous estimate of $2.01. The consensus estimate for General Motors' current full-year earnings is $9.12 per share. Zacks Research also issued estimates for General Motors' Q2 2024 earnings at $2.06 EPS, Q3 2024 earnings at $2.38 EPS, Q4 2024 earnings at $2.49 EPS, FY2024 earnings at $8.93 EPS, Q1 2025 earnings at $2.19 EPS, Q2 2025 earnings at $2.41 EPS, Q3 2025 earnings at $2.52 EPS, Q4 2025 earnings at $2.67 EPS, FY2025 earnings at $9.79 EPS, Q1 2026 earnings at $2.29 EPS and FY2026 earnings at $10.32 EPS.
General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $2.21 EPS.
Other research analysts have also issued reports about the company. The Goldman Sachs Group increased their target price on General Motors from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, January 31st. Barclays increased their price target on General Motors from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday, April 11th. Wedbush increased their price target on General Motors from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, January 31st. Royal Bank of Canada increased their price target on General Motors from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Redburn Atlantic began coverage on General Motors in a report on Wednesday, January 24th. They issued a "neutral" rating and a $40.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.52.
Check Out Our Latest Stock Analysis on General Motors
General Motors Trading Up 4.4 %
Shares of GM traded up $1.89 during trading hours on Tuesday, hitting $45.10. The stock had a trading volume of 28,608,554 shares, compared to its average volume of 17,589,910. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market cap of $52.06 billion, a P/E ratio of 6.21, a P/E/G ratio of 0.50 and a beta of 1.51. The company's fifty day simple moving average is $41.73 and its 200 day simple moving average is $35.96. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04.
General Motors Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. General Motors's payout ratio is currently 6.57%.
Insider Transactions at General Motors
In other news, 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 completion of the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other General Motors news, EVP Gerald Johnson sold 15,190 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the completion of the sale, the executive vice president now directly owns 98,628 shares in the company, valued at $3,948,078.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of the company'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 value of $620,710.20. Following the completion of 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 three months, insiders sold 86,248 shares of company stock worth $3,614,078. Company insiders own 0.54% of the company's stock.
Institutional Investors Weigh In On General Motors
Institutional investors have recently added to or reduced their stakes in the company. SouthState Corp lifted its position in General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer's stock worth $25,000 after purchasing an additional 485 shares during the period. Highlander Capital Management LLC bought a new position in shares of General Motors in the fourth quarter valued at $27,000. Cape Investment Advisory Inc. increased its holdings in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer's stock valued at $30,000 after buying an additional 359 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of General Motors in the third quarter valued at $33,000. Finally, Sachetta LLC bought a new position in shares of General Motors in the fourth quarter valued at $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.
About General Motors
(
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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.
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