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

General Motors (NYSE:GM) (TSE:GMM.U) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 10.000-10.500 for the period, compared to the consensus EPS estimate of 10.000. The company issued revenue guidance of -. General Motors also updated its FY24 guidance to $10.00-10.50 EPS.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GM. Sanford C. Bernstein downgraded shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a research report on Monday, September 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $54.00 price objective on shares of General Motors in a research note on Wednesday, October 9th. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a report on Monday, August 5th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, UBS Group raised their price objective on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus target price of $55.63.

General Motors Price Performance

Shares of GM opened at $53.44 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The business’s fifty day moving average is $47.33 and its 200 day moving average is $46.04. The stock has a market cap of $60.97 billion, a P/E ratio of 6.53, a P/E/G ratio of 0.56 and a beta of 1.42. General Motors has a 12-month low of $26.30 and a 12-month high of $54.17.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same period last year, the firm posted $2.28 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. Sell-side analysts anticipate that General Motors will post 9.95 earnings per share for the current fiscal 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. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.90%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred on Monday, August 26th. The stock was 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was 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 directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale 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.