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 earnings per share (EPS) guidance of 9.000-10.000 for the period, compared to the consensus 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 Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of General Motors from $27.00 to $28.00 and gave the company an underweight rating in a research note on Wednesday, January 31st. Mizuho upped their price target on shares of General Motors from $44.00 to $48.00 and gave the stock a buy rating in a report on Monday, March 25th. 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. TheStreet raised shares of General Motors from a c+ rating to a b- rating in a research note on Tuesday, March 19th. Finally, Tigress Financial upped their price objective on shares of General Motors from $86.00 to $88.00 and gave the company a strong-buy rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $52.52.

General Motors Trading Up 4.4 %

Shares of General Motors stock traded up $1.89 during trading on Tuesday, reaching $45.10. The company’s stock had a trading volume of 13,615,490 shares, compared to its average volume of 17,385,346. General Motors has a 52-week low of $26.30 and a 52-week high of $46.04. The company has a market cap of $52.06 billion, a price-to-earnings ratio of 6.21, a PEG ratio of 0.50 and a beta of 1.51. The firm’s 50-day moving average is $41.73 and its two-hundred day moving average is $35.96. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 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 company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same period in the prior year, the business posted $2.21 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that General Motors will post 9.12 earnings per share for the current year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.06%. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

Insiders Place Their Bets

In related news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by corporate insiders.

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.