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

General Motors (NYSE:GM) (TSE:GMM.U) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 10.000-10.500 for the period, compared to the consensus estimate of 10.000. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wolfe Research initiated coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research report on Friday, October 11th. Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. The Goldman Sachs Group upped their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, Barclays upped their target price on General Motors from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.35.

General Motors Trading Down 0.5 %

GM stock opened at $48.92 on Tuesday. The company’s 50-day simple moving average is $47.13 and its 200-day simple moving average is $45.97. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50. The firm has a market cap of $55.81 billion, a P/E ratio of 5.98, a PEG ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared 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. This represents a $0.48 annualized dividend and a dividend yield of 0.98%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

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.