General Motors (NYSE:GM) Updates 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 guidance of 10.000-10.500 for the period, compared to the consensus earnings per share estimate of 10.000. The company issued revenue guidance of -. General Motors also updated its FY24 guidance to $10.00-10.50 EPS.

Analysts Set New Price Targets

GM has been the topic of several research analyst reports. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research note on Monday, August 5th. Barclays increased their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.97.

General Motors Trading Up 0.6 %

NYSE:GM traded up $0.30 during mid-day trading on Thursday, hitting $53.22. The company had a trading volume of 1,902,497 shares, compared to its average volume of 15,120,923. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The firm has a market cap of $60.72 billion, a P/E ratio of 6.47, a P/E/G ratio of 0.56 and a beta of 1.42. The business’s fifty day moving average is $47.52 and its two-hundred day moving average is $46.09. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.28 earnings per share. As a group, research analysts expect that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.90%. General Motors’s payout ratio is 5.87%.

Insider Transactions at General Motors

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