General Motors to Post Q2 2024 Earnings of $2.19 Per Share, Zacks Research Forecasts (NYSE:GM)

General Motors (NYSE:GM - Free Report) TSE: GMM.U - Investment analysts at Zacks Research raised their Q2 2024 earnings per share estimates for shares of General Motors in a research note issued to investors on Tuesday, May 7th. Zacks Research analyst R. Singhi now anticipates that the auto manufacturer will post earnings of $2.19 per share for the quarter, up from their previous 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.

Several other brokerages have also recently issued reports on GM. Royal Bank of Canada increased their price objective on General Motors from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, April 23rd. Wedbush increased their price target on shares of General Motors from $45.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 24th. UBS Group lifted their target price on General Motors from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. Citigroup increased their price target on shares of General Motors from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Finally, Mizuho boosted their target price on General Motors from $48.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $54.65.

General Motors Trading Up 0.7 %

General Motors stock traded up $0.31 during midday trading on Thursday, reaching $45.36. 9,346,970 shares of the stock traded hands, compared to its average volume of 16,824,982. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The firm has a market cap of $51.75 billion, a PE ratio of 5.55, a price-to-earnings-growth ratio of 0.53 and a beta of 1.49. The company has a 50-day simple moving average of $43.14 and a two-hundred day simple moving average of $37.16. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results 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 net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter last year, the firm earned $2.21 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.06%. General Motors's dividend payout ratio (DPR) is presently 5.87%.

Insiders Place Their Bets

In other news, EVP Julian G. Blissett sold 13,826 shares of the company's stock in a transaction dated 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 approximately $3,348,562.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction 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 transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the firm's stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the transaction, the executive vice president now owns 71,506 shares in the company, valued at $3,236,361.56. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 in the last quarter. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Motors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of General Motors during the fourth quarter valued at approximately $602,280,000. Acadian Asset Management LLC increased its position in General Motors by 454.3% in the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer's stock valued at $171,961,000 after acquiring an additional 4,275,293 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of General Motors by 21.9% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer's stock worth $650,062,000 after acquiring an additional 3,247,050 shares during the last quarter. Putnam Investments LLC lifted its position in shares of General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer's stock worth $726,942,000 after purchasing an additional 2,905,689 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of General Motors by 32.6% in the third quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer's stock valued at $274,531,000 after purchasing an additional 2,049,412 shares in the last quarter. Hedge funds and other institutional investors 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.