General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) posted its quarterly earnings results on Tuesday. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60, RTT News reports. The firm had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. General Motors’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 EPS. General Motors updated its FY24 guidance to 9.00-10.00 EPS.
General Motors Trading Up 2.1 %
Shares of NYSE:GM opened at $43.25 on Tuesday. The stock has a 50 day moving average of $41.73 and a 200 day moving average of $35.96. The company has a market cap of $49.93 billion, a PE ratio of 5.92, a price-to-earnings-growth ratio of 0.50 and a beta of 1.51. 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 has a 12-month low of $26.30 and a 12-month high of $46.04.
General Motors Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.11%. General Motors’s dividend payout ratio (DPR) is presently 6.57%.
Insider Activity at General Motors
Wall Street Analysts Forecast Growth
GM has been the subject of several research analyst reports. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Redburn Atlantic initiated coverage on General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price objective for the company. Tigress Financial lifted their price objective on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 15th. Royal Bank of Canada lifted their price objective on General Motors from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, Piper Sandler initiated coverage on General Motors in a report on Friday, March 15th. They issued a “neutral” rating and a $44.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.57.
View Our Latest Analysis on GM
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.
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