General Motors (NYSE:GM) Updates FY 2024 Earnings Guidance

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 9.000-10.000 for the period, compared to the consensus estimate of 9.080. The company issued revenue guidance of -. General Motors also updated its FY24 guidance to 9.00-10.00 EPS.

Analyst Ratings Changes

GM has been the subject of several recent research reports. Wedbush boosted their price objective on General Motors from $40.00 to $45.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Wolfe Research upgraded General Motors from a peer perform rating to an outperform rating and set a $42.00 price objective for the company in a report on Thursday, January 4th. Mizuho boosted their price objective on General Motors from $44.00 to $48.00 and gave the company a buy rating in a report on Monday, March 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on General Motors from $44.00 to $50.00 and gave the company a hold rating in a report on Tuesday. Finally, Tigress Financial lifted their target price on General Motors from $86.00 to $88.00 and gave the company a strong-buy rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $52.52.

General Motors Stock Performance

Shares of NYSE:GM traded up $1.89 during midday trading on Tuesday, reaching $45.10. 28,608,554 shares of the company traded hands, compared to its average volume of 17,589,910. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04. The firm has a market capitalization of $52.06 billion, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 0.50 and a beta of 1.51. The firm's fifty day moving average price is $41.86 and its two-hundred day moving average price is $36.06.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.60. The company 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 firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 EPS. On average, equities analysts expect that General Motors will post 9.12 earnings per share for the current year.

General Motors Dividend Announcement

The firm 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 is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. General Motors's dividend payout ratio is currently 6.57%.

Insider Activity

In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following 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. In the last three months, insiders have sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by insiders.

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.