General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) released its quarterly earnings results on Tuesday. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60, RTT News reports. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the firm posted $2.21 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. General Motors updated its FY24 guidance to 9.00-10.00 EPS and its FY 2024 guidance to 9.000-10.000 EPS.
General Motors Price Performance
General Motors stock opened at $44.70 on Thursday. The company has a market cap of $51.60 billion, a price-to-earnings ratio of 5.51, a PEG ratio of 0.53 and a beta of 1.51. The business’s 50 day simple moving average is $42.00 and its 200 day simple moving average is $36.12. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22.
General Motors Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors 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 annualized dividend and a yield of 1.07%. General Motors’s payout ratio is 5.87%.
Insiders Place Their Bets
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Sanford C. Bernstein began coverage on General Motors in a research note on Thursday. They issued an “outperform” rating and a $55.00 price target on the stock. Tigress Financial lifted 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. Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Thursday, January 4th. Morgan Stanley lifted their target price on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Finally, UBS Group lifted their target price on General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.38.
Check Out Our Latest Stock Report on General Motors
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.
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