General Motors (NYSE:GM) Updates FY 2024 Earnings Guidance

General Motors (NYSE:GM) (TSE:GMM.U) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 9.000-10.000 for the period, compared to the consensus earnings per share estimate of 9.080. The company issued revenue guidance of -. General Motors also updated its FY24 guidance to 9.00-10.00 EPS.

General Motors Stock Up 5.7 %

GM opened at $45.68 on Tuesday. The company has a fifty day moving average price of $41.73 and a 200-day moving average price of $35.96. The firm has a market capitalization of $52.73 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 0.50 and a beta of 1.51. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90. General Motors has a one year low of $26.30 and a one year high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The firm had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. Equities research analysts expect that General Motors will post 9.12 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.05%. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays upped their target price on shares of General Motors from $50.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Mizuho upped their target price on shares of General Motors from $44.00 to $48.00 and gave the stock a buy rating in a research report on Monday, March 25th. Wells Fargo & Company upped their target price on shares of General Motors from $27.00 to $28.00 and gave the stock an underweight rating in a research report on Wednesday, January 31st. Wolfe Research upgraded shares of General Motors from a peer perform rating to an outperform rating and set a $42.00 target price for the company in a research report on Thursday, January 4th. Finally, Morgan Stanley boosted their price target on shares of General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, General Motors has an average rating of Moderate Buy and an average price target of $51.57.

Insider Activity at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, 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 over the last 90 days. 0.54% of the stock is owned by company insiders.

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.