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 EPS guidance of 9.000-10.000 for the period, compared to the consensus EPS estimate of 9.080. The company issued revenue guidance of -. General Motors also updated its FY24 guidance to 9.00-10.00 EPS.

Wall Street Analyst Weigh In

Several research firms have recently commented on GM. The Goldman Sachs Group upped their price objective on shares of General Motors from $45.00 to $50.00 and gave the company a buy rating in a report on Wednesday, January 31st. Morgan Stanley upped their price objective on shares of General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research report on Wednesday, April 10th. Wolfe Research upgraded shares of General Motors from a peer perform rating to an outperform rating and set a $42.00 price objective for the company in a research report on Thursday, January 4th. Piper Sandler initiated coverage on shares of General Motors in a research report on Friday, March 15th. They set a neutral rating and a $44.00 price objective for the company. Finally, Barclays upped their price objective on shares of General Motors from $50.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $51.57.

General Motors Trading Up 5.7 %

Shares of GM opened at $45.68 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.90 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 50-day moving average price of $41.73 and a 200 day moving average price of $35.96. The firm has a market capitalization of $52.73 billion, a P/E ratio of 5.92, a P/E/G ratio of 0.50 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The firm had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. General Motors’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts forecast that General Motors will post 9.12 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. General Motors’s dividend payout ratio is currently 6.57%.

Insider Activity at General Motors

In related news, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 5,100 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the transaction, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by company 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.