General Motors (NYSE:GM) Issues FY24 Earnings Guidance

General Motors (NYSE:GM) (TSE:GMM.U) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of 9.00-10.00 for the period, compared to the consensus EPS estimate of $8.89. General Motors also updated its FY 2024 guidance to 9.000-10.000 EPS.

Analyst Ratings Changes

Several analysts recently commented on the company. Wolfe Research raised General Motors from a peer perform rating to an outperform rating and set a $42.00 target price on the stock in a report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft raised their target price on General Motors from $44.00 to $50.00 and gave the stock a hold rating in a report on Tuesday. Citigroup raised their price objective on General Motors from $95.00 to $96.00 and gave the company a buy rating in a report on Wednesday. Mizuho raised their price objective on General Motors from $48.00 to $52.00 and gave the company a buy rating in a report on Wednesday. Finally, Barclays raised their price objective on General Motors from $50.00 to $55.00 and gave the company an overweight rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve 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 $54.38.

General Motors Stock Up 1.2 %

GM traded up $0.54 on Thursday, hitting $45.62. 14,513,333 shares of the company were exchanged, compared to its average volume of 17,521,344. General Motors has a twelve month low of $26.30 and a twelve month high of $46.04. The company has a market cap of $52.67 billion, a price-to-earnings ratio of 5.58, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average price of $42.13 and a two-hundred day moving average price of $36.19.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the previous year, the firm posted $2.21 EPS. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts predict that General Motors will post 9.26 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Transactions at General Motors

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