FY2024 EPS Estimates for General Motors Lifted by Analyst

General Motors (NYSE:GM - Free Report) TSE: GMM.U - Equities researchers at Wedbush raised their FY2024 EPS estimates for shares of General Motors in a note issued to investors on Tuesday, October 22nd. Wedbush analyst D. Ives now forecasts that the auto manufacturer will earn $10.39 per share for the year, up from their prior forecast of $10.02. Wedbush currently has a "Outperform" rating and a $60.00 target price on the stock. The consensus estimate for General Motors' current full-year earnings is $9.95 per share. Wedbush also issued estimates for General Motors' Q4 2024 earnings at $1.66 EPS, Q2 2025 earnings at $2.70 EPS, Q4 2025 earnings at $2.19 EPS and FY2025 earnings at $10.41 EPS.

Other equities analysts also recently issued reports about the company. Nomura downgraded General Motors from a "neutral" rating to a "reduce" rating and set a $34.00 price target for the company. in a report on Monday, August 5th. Sanford C. Bernstein raised their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a "market perform" rating in a research note on Friday. DZ Bank downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $49.00 target price on the stock. in a research note on Friday, October 11th. Barclays increased their price target on shares of General Motors from $64.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, General Motors presently has a consensus rating of "Hold" and an average target price of $57.06.

General Motors Stock Down 1.2 %

GM stock traded down $0.65 on Friday, reaching $52.07. 8,484,350 shares of the company traded hands, compared to its average volume of 15,136,464. The firm has a fifty day simple moving average of $47.68 and a 200-day simple moving average of $46.13. The company has a market cap of $59.41 billion, a P/E ratio of 6.37, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. General Motors has a one year low of $26.30 and a one year high of $54.29. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter last year, the firm earned $2.28 earnings per share. The business's revenue for the quarter was up 10.5% on a year-over-year basis.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. General Motors's dividend payout ratio (DPR) is currently 5.87%.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This trade 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 related news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 531,228 shares of company stock valued at $28,267,714 in the last ninety days. Corporate insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On General Motors

Several institutional investors and hedge funds have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL bought a new position in General Motors during the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC grew its holdings in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer's stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. Montag A & Associates Inc. bought a new stake in General Motors in the first quarter worth $30,000. Finally, EdgeRock Capital LLC bought a new stake in General Motors in the second quarter worth $33,000. Institutional investors own 92.67% 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.