General Motors (NYSE:GM) Updates 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.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GM. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Motors from $44.00 to $50.00 and gave the company a hold rating in a report on Tuesday. UBS Group raised their target price on shares of General Motors from $56.00 to $58.00 and gave the company a buy rating in a research note on Wednesday. Barclays raised their target price on shares of General Motors from $50.00 to $55.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Redburn Atlantic assumed 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 for the company. Finally, Wedbush raised their price objective on shares of General Motors from $45.00 to $55.00 and gave the stock an outperform rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $54.29.

General Motors Price Performance

Shares of NYSE:GM traded down $0.27 during trading on Wednesday, reaching $44.83. The company had a trading volume of 7,964,069 shares, compared to its average volume of 17,465,176. The company has a fifty day moving average of $41.86 and a two-hundred day moving average of $36.06. The stock has a market capitalization of $51.75 billion, a P/E ratio of 6.13, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21.

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, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 EPS. Equities research analysts forecast that General Motors will post 9.12 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. General Motors’s dividend payout ratio is 6.57%.

Insider Transactions at General Motors

In other news, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction dated 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 of the company’s stock, valued at approximately $3,236,361.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors 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 transaction, 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. Company insiders own 0.54% of the company’s stock.

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.