General Motors Expected to Earn FY2024 Earnings of $9.53 Per Share (NYSE:GM)

General Motors (NYSE:GM - Free Report) TSE: GMM.U - Equities research analysts at Wedbush boosted their FY2024 earnings per share (EPS) estimates for shares of General Motors in a note issued to investors on Wednesday, April 24th. Wedbush analyst D. Ives now expects that the auto manufacturer will earn $9.53 per share for the year, up from their previous forecast of $9.00. Wedbush has a "Outperform" rating and a $55.00 price objective 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.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion during the quarter, compared to analysts' expectations of $41.09 billion. During the same period in the prior year, the firm posted $2.21 EPS. General Motors's quarterly revenue was up 7.6% compared to the same quarter last year.

GM has been the subject of a number of other reports. Barclays increased their target price on General Motors from $50.00 to $55.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. The Goldman Sachs Group raised their price target on General Motors from $45.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. Tigress Financial raised 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. TheStreet raised General Motors from a "c+" rating to a "b-" rating in a report on Tuesday, March 19th. Finally, Piper Sandler raised their price target on General Motors from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.38.

General Motors Price Performance

Shares of GM traded up $0.54 during mid-day trading on Thursday, reaching $45.62. The company had a trading volume of 14,513,333 shares, compared to its average volume of 17,521,344. General Motors has a twelve month low of $26.30 and a twelve month high of $46.04. 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 company's 50-day moving average is $42.00 and its 200-day moving average is $36.12. The company has a market capitalization of $52.67 billion, a P/E ratio of 5.52, a P/E/G ratio of 0.53 and a beta of 1.51.

Institutional Trading of General Motors

Hedge funds and other institutional investors have recently modified their holdings of the company. Highlander Capital Management LLC acquired a new stake in shares of General Motors in the 4th quarter valued at about $27,000. SouthState Corp raised its stake in shares of General Motors by 173.8% in the 3rd 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. Riverview Trust Co acquired a new stake in shares of General Motors in the 1st quarter valued at about $38,000. Cape Investment Advisory Inc. raised its stake in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer's stock valued at $30,000 after purchasing an additional 359 shares during the period. Finally, Sachetta LLC acquired a new stake in shares of General Motors in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 3,500 shares of the firm's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares in the company, valued at approximately $540,315. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Motors news, EVP Gerald Johnson sold 15,190 shares of General Motors stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.03, for a total transaction of $608,055.70. Following the transaction, 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 filing with the SEC, which is accessible through this hyperlink. Also, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares in the company, valued at $540,315. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 in the last three months. Insiders own 0.54% of the company's stock.

General Motors Dividend Announcement

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

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.