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 guidance of 9.000-10.000 for the period, compared to the consensus earnings per share estimate of 9.080. The company issued revenue guidance of -. General Motors also updated its FY24 guidance to 9.00-10.00 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on General Motors from $44.00 to $50.00 and gave the company a hold rating in a research note on Tuesday. Wedbush lifted their price target on General Motors from $45.00 to $55.00 and gave the company an outperform rating in a research note on Wednesday. Tigress Financial increased their price target on General Motors from $86.00 to $88.00 and gave the stock a strong-buy rating in a research report on Thursday, February 15th. Redburn Atlantic assumed coverage on General Motors in a research note on Wednesday, January 24th. They set a neutral rating and a $40.00 target price for the company. Finally, Citigroup upped their price objective on shares of General Motors from $95.00 to $96.00 and gave the stock a buy rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Motors has a consensus rating of Moderate Buy and an average target price of $54.38.

General Motors Trading Up 1.2 %

NYSE:GM traded up $0.54 during trading hours on Thursday, reaching $45.62. 14,513,333 shares of the stock 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 quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average of $42.13 and a two-hundred day moving average of $36.19. The company has a market capitalization of $52.67 billion, a price-to-earnings ratio of 5.58, a PEG ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating 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 business had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the firm earned $2.21 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts predict that General Motors will post 9.26 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Activity

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction 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 transaction, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,248 shares of company stock worth $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.