General Motors (NYSE:GM) Expected to Announce Quarterly Sales of $36.69 Billion
Equities research analysts expect that General Motors (NYSE:GM) (TSE:GMM.U) will announce $36.69 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for General Motors’ earnings, with the lowest sales estimate coming in at $36.46 billion and the highest estimate coming in at $36.92 billion. General Motors reported sales of $35.79 billion during the same quarter last year, which would suggest a positive year over year growth rate of 2.5%. The firm is expected to announce its next earnings results on Wednesday, October 30th.
According to Zacks, analysts expect that General Motors will report full-year sales of $145.86 billion for the current financial year, with estimates ranging from $144.75 billion to $147.44 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $144.01 billion, with estimates ranging from $138.14 billion to $146.70 billion. Zacks’ sales averages are an average based on a survey of research firms that cover General Motors.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.21. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The business had revenue of $36.06 billion during the quarter, compared to analyst estimates of $36.03 billion. During the same period in the previous year, the company posted $1.81 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year.
In other news, EVP Matthew Tsien sold 83,067 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $39.50, for a total value of $3,281,146.50. Following the completion of the sale, the executive vice president now owns 84,667 shares in the company, valued at approximately $3,344,346.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 275,944 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the completion of the sale, the president now owns 479,413 shares of the company’s stock, valued at approximately $19,190,902.39. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AGF Investments LLC grew its stake in shares of General Motors by 28.0% during the second quarter. AGF Investments LLC now owns 1,183 shares of the auto manufacturer’s stock worth $46,000 after purchasing an additional 259 shares in the last quarter. Econ Financial Services Corp boosted its holdings in shares of General Motors by 3.3% in the 1st quarter. Econ Financial Services Corp now owns 8,164 shares of the auto manufacturer’s stock valued at $303,000 after buying an additional 264 shares in the last quarter. Cedar Brook Financial Partners LLC boosted its holdings in shares of General Motors by 4.2% in the 1st quarter. Cedar Brook Financial Partners LLC now owns 6,827 shares of the auto manufacturer’s stock valued at $253,000 after buying an additional 276 shares in the last quarter. Zions Bancorporation N.A. boosted its holdings in shares of General Motors by 11.1% in the 1st quarter. Zions Bancorporation N.A. now owns 2,906 shares of the auto manufacturer’s stock valued at $108,000 after buying an additional 290 shares in the last quarter. Finally, Milestone Group Inc. grew its position in shares of General Motors by 4.1% in the 2nd quarter. Milestone Group Inc. now owns 7,350 shares of the auto manufacturer’s stock valued at $283,000 after buying an additional 291 shares during the last quarter. 77.36% of the stock is currently owned by institutional investors.
NYSE:GM traded down $0.12 on Friday, hitting $39.46. The stock had a trading volume of 6,859,364 shares, compared to its average volume of 8,649,338. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 1.56. General Motors has a 52 week low of $30.56 and a 52 week high of $41.90. The business’s fifty day moving average is $38.50 and its 200 day moving average is $38.03. The company has a market cap of $56.51 billion, a PE ratio of 6.03, a P/E/G ratio of 0.65 and a beta of 1.42.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, September 5th. General Motors’s dividend payout ratio (DPR) is presently 23.24%.
About General Motors
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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