General Motors (GM) Set to Announce Quarterly Earnings on Tuesday

General Motors (NYSE:GM) (TSE:GMM.U) is set to issue its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $2.02 per share for the quarter. General Motors has set its FY 2024 guidance at 8.500-9.500 EPS and its FY24 guidance at $8.50-$9.50 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.08. The business had revenue of $42.98 billion during the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm posted $2.12 EPS. On average, analysts expect General Motors to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

General Motors Stock Performance

NYSE:GM opened at $42.37 on Monday. The stock has a market cap of $48.91 billion, a P/E ratio of 5.80, a PEG ratio of 0.50 and a beta of 1.51. The stock has a 50 day simple moving average of $41.65 and a 200 day simple moving average of $35.87. 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 1-year low of $26.30 and a 1-year high of $46.04.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Friday, March 1st were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from General Motors’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a yield of 1.13%. General Motors’s payout ratio is currently 6.57%.

Insider Buying and Selling

In other news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Gerald Johnson sold 15,190 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the completion of the transaction, the executive vice president now directly owns 98,628 shares of the company’s stock, valued at $3,948,078.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Motors

Several institutional investors have recently modified their holdings of the business. FIL Ltd bought a new position in shares of General Motors in the fourth quarter valued at approximately $9,373,000. Burford Brothers Inc. bought a new position in General Motors during the fourth quarter valued at $369,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in General Motors by 53.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,502,214 shares of the auto manufacturer’s stock valued at $89,874,000 after purchasing an additional 867,734 shares during the period. Hobbs Group Advisors LLC bought a new position in General Motors during the fourth quarter valued at $29,000. Finally, O Dell Group LLC bought a new position in General Motors during the fourth quarter valued at $29,000. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GM shares. Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, January 4th. Tigress Financial boosted their price objective on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. Morgan Stanley boosted their price objective on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group boosted their price objective on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. One 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.57.

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.