General Motors (NYSE:GM) Releases FY 2024 Earnings Guidance

General Motors (NYSE:GM) (TSE:GMM.U) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 10.000-10.500 for the period, compared to the consensus EPS estimate of 10.000. The company issued revenue guidance of -. General Motors also updated its FY24 guidance to $10.00-10.50 EPS.

General Motors Trading Down 0.5 %

NYSE:GM opened at $53.44 on Wednesday. The company’s 50-day simple moving average is $47.33 and its 200 day simple moving average is $46.04. General Motors has a one year low of $26.30 and a one year high of $54.17. The firm has a market capitalization of $60.97 billion, a P/E ratio of 6.53, a PEG ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the company earned $2.28 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Analyst Ratings Changes

GM has been the topic of several recent analyst reports. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Sanford C. Bernstein cut General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price objective on the stock. in a research report on Monday, September 23rd. The Goldman Sachs Group boosted their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. UBS Group lifted their price target on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Barclays lifted their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have given 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 has an average rating of “Hold” and an average price target of $55.63.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.