General Motors (NYSE:GM) Issues 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.

General Motors Trading Up 1.0 %

NYSE GM traded up $0.46 during trading hours on Friday, hitting $46.08. 2,325,542 shares of the company’s stock were exchanged, compared to its average volume of 17,332,016. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17. The business’s 50 day moving average is $42.13 and its 200-day moving average is $36.19. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. The firm has a market capitalization of $52.58 billion, a P/E ratio of 5.64, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The firm had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 earnings per share. As a group, analysts anticipate that General Motors will post 9.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s payout ratio is 5.87%.

Analyst Ratings Changes

GM has been the topic of several recent analyst reports. Redburn Atlantic started coverage on shares of General Motors in a research report on Wednesday, January 24th. They set a neutral rating and a $40.00 price objective on the stock. Morgan Stanley increased their target price on shares of General Motors from $43.00 to $46.00 and gave the company an overweight rating in a research report on Wednesday, April 10th. StockNews.com raised General Motors from a hold rating to a buy rating in a research report on Thursday. Barclays raised their price target on General Motors from $55.00 to $60.00 and gave the company an overweight rating in a report on Friday. Finally, Mizuho boosted their target price on shares of General Motors from $48.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, General Motors currently has a consensus rating of Moderate Buy and a consensus price target of $54.65.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the firm’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $860,710.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is 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.