Equities Analysts Issue Forecasts for General Motors’ FY2024 Earnings (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Analysts at Wedbush increased their FY2024 earnings estimates for shares of General Motors in a research note issued to investors on Wednesday, April 24th. Wedbush analyst D. Ives now forecasts that the auto manufacturer will post earnings of $9.53 per share for the year, up from their prior estimate of $9.00. Wedbush currently has a “Outperform” rating and a $55.00 price target on the stock. The consensus estimate for General Motors’ current full-year earnings is $9.26 per share. Wedbush also issued estimates for General Motors’ Q2 2025 earnings at $2.69 EPS, Q3 2025 earnings at $2.67 EPS and Q4 2025 earnings at $2.71 EPS.

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 for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same quarter last year, the business posted $2.21 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley lifted their price objective on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Barclays lifted their price objective on shares of General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. The Goldman Sachs Group boosted their price target on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Redburn Atlantic started coverage on shares of General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target for the company. Finally, Mizuho boosted their price target on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.38.

General Motors Trading Down 0.1 %

Shares of GM opened at $45.07 on Thursday. General Motors has a 1-year low of $26.30 and a 1-year high of $46.04. The company has a 50-day moving average of $42.00 and a 200 day moving average of $36.12. The firm has a market capitalization of $52.03 billion, a price-to-earnings ratio of 5.51, a PEG ratio of 0.53 and a beta of 1.51. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90.

Institutional Trading of General Motors

Several large investors have recently made changes to their positions in the business. Long Run Wealth Advisors LLC boosted its holdings in shares of General Motors by 3.8% in the 1st quarter. Long Run Wealth Advisors LLC now owns 83,165 shares of the auto manufacturer’s stock valued at $3,772,000 after acquiring an additional 3,078 shares during the last quarter. Family Legacy Inc. boosted its holdings in shares of General Motors by 4.9% in the 1st quarter. Family Legacy Inc. now owns 13,060 shares of the auto manufacturer’s stock valued at $592,000 after acquiring an additional 605 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of General Motors by 91.5% in the 1st quarter. V Square Quantitative Management LLC now owns 11,373 shares of the auto manufacturer’s stock valued at $516,000 after acquiring an additional 5,435 shares during the last quarter. Premier Path Wealth Partners LLC boosted its holdings in shares of General Motors by 5.1% in the 1st quarter. Premier Path Wealth Partners LLC now owns 6,536 shares of the auto manufacturer’s stock valued at $296,000 after acquiring an additional 317 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in shares of General Motors in the 1st quarter valued at $1,103,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the business’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 sale, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the company’s 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 sale, 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 quarter, insiders have sold 86,248 shares of company stock valued at $3,614,078. Insiders own 0.54% of the company’s stock.

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 given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio is presently 5.87%.

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.