Q1 2024 EPS Estimates for General Motors (NYSE:GM) Reduced by Analyst

General Motors (NYSE:GM) (TSE:GMM.U) – Investment analysts at Zacks Research cut their Q1 2024 EPS estimates for General Motors in a report issued on Monday, April 22nd. Zacks Research analyst R. Singhi now anticipates that the auto manufacturer will earn $1.99 per share for the quarter, down from their previous estimate of $2.01. The consensus estimate for General Motors’ current full-year earnings is $9.12 per share. Zacks Research also issued estimates for General Motors’ Q2 2024 earnings at $2.06 EPS, Q3 2024 earnings at $2.38 EPS, Q4 2024 earnings at $2.49 EPS, FY2024 earnings at $8.93 EPS, Q1 2025 earnings at $2.19 EPS, Q2 2025 earnings at $2.41 EPS, Q3 2025 earnings at $2.52 EPS, Q4 2025 earnings at $2.67 EPS, FY2025 earnings at $9.79 EPS, Q1 2026 earnings at $2.29 EPS and FY2026 earnings at $10.32 EPS.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The firm had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same period last year, the company earned $2.21 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley lifted their target price on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Tigress Financial upped their target price on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 15th. Citigroup raised their target price on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on General Motors from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group increased their price objective on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.35.

General Motors Stock Performance

Shares of GM stock opened at $45.07 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. The stock has a fifty 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 6.17, a PEG ratio of 0.51 and a beta of 1.51. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

Insider Activity

In related news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares in the company, valued at $540,315. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now owns 12,007 shares in the company, valued at $540,315. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 in the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

Large investors have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its position in General Motors by 18.5% in the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after purchasing an additional 74,194 shares during the period. Cerity Partners LLC boosted its holdings in shares of General Motors by 361.1% in the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after purchasing an additional 93,754 shares during the period. Foundry Partners LLC grew its stake in General Motors by 15.0% in the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after purchasing an additional 51,336 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of General Motors by 10.5% during the third quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock valued at $4,859,000 after buying an additional 14,002 shares during the period. Finally, AM Squared Ltd increased its position in General Motors by 195.0% during the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock valued at $1,483,000 after purchasing an additional 27,300 shares during the period. Institutional investors own 92.67% 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.