FY2024 EPS Estimates for General Motors Increased by Analyst

General Motors (NYSE:GM) (TSE:GMM.U) – Research analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for General Motors in a note issued to investors on Tuesday, October 22nd. Wedbush analyst D. Ives now expects that the auto manufacturer will earn $10.39 per share for the year, up from their prior estimate of $10.02. Wedbush currently has a “Outperform” rating and a $60.00 price target 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.

A number of other research analysts have also recently issued reports on GM. The Goldman Sachs Group lifted their price objective on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Wolfe Research assumed coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, General Motors presently has an average rating of “Hold” and a consensus price target of $56.97.

General Motors Price Performance

Shares of GM stock opened at $52.70 on Friday. The stock’s fifty day simple moving average is $47.52 and its 200 day simple moving average is $46.09. General Motors has a one year low of $26.30 and a one year high of $54.29. The firm has a market cap of $60.13 billion, a price-to-earnings ratio of 6.44, a P/E/G ratio of 0.56 and a beta of 1.42. 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) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping 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 firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the company earned $2.28 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.87%.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Rory Harvey sold 2,302 shares of the firm’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 sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 531,228 shares of company stock valued at $28,267,714. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Large investors have recently modified their holdings of the stock. Concord Wealth Partners increased its stake in shares of General Motors by 18.9% during the third quarter. Concord Wealth Partners now owns 4,707 shares of the auto manufacturer’s stock worth $211,000 after purchasing an additional 748 shares during the period. Asahi Life Asset Management CO. LTD. increased its position in General Motors by 8.5% during the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 9,540 shares of the auto manufacturer’s stock worth $428,000 after buying an additional 750 shares during the period. FCG Investment Co acquired a new stake in shares of General Motors during the third quarter worth $982,000. State of Alaska Department of Revenue boosted its position in shares of General Motors by 41.9% in the third quarter. State of Alaska Department of Revenue now owns 191,393 shares of the auto manufacturer’s stock valued at $8,581,000 after acquiring an additional 56,485 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of General Motors by 0.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 478,958 shares of the auto manufacturer’s stock valued at $21,536,000 after acquiring an additional 1,425 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

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.