Equities Analysts Issue Forecasts for General Motors’ FY2024 Earnings (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Wedbush increased their FY2024 earnings estimates for shares of General Motors in a note issued to investors on Wednesday, April 24th. Wedbush analyst D. Ives now forecasts that the auto manufacturer will earn $9.53 per share for the year, up from their prior forecast of $9.00. Wedbush currently has a “Outperform” rating and a $55.00 target price on the stock. The consensus estimate for General Motors’ current full-year earnings is $9.26 per share. Wedbush also issued estimates for General Motors’ Q2 2025 earnings at $2.69 EPS, Q3 2025 earnings at $2.67 EPS and Q4 2025 earnings at $2.71 EPS.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate 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 6.13% and a return on equity of 14.40%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $2.21 EPS.

Several other research firms have also commented on GM. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group raised their price target on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Royal Bank of Canada raised their price target on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup raised their price target on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Tigress Financial raised their price target on shares of General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and an average target price of $54.38.

General Motors Trading Down 0.1 %

NYSE:GM opened at $45.07 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. The firm has a market cap of $52.03 billion, a price-to-earnings ratio of 5.51, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04. The firm has a 50-day moving average price of $42.00 and a two-hundred day moving average price of $36.12.

Institutional Trading of General Motors

Several institutional investors have recently added to or reduced their stakes in GM. Unison Advisors LLC raised its stake in shares of General Motors by 0.4% during the first quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock valued at $3,047,000 after acquiring an additional 246 shares during the last quarter. Janiczek Wealth Management LLC raised its stake in shares of General Motors by 5.2% during the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock valued at $230,000 after acquiring an additional 248 shares during the last quarter. FinTrust Capital Advisors LLC raised its stake in shares of General Motors by 2.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 11,113 shares of the auto manufacturer’s stock valued at $399,000 after acquiring an additional 268 shares during the last quarter. Summit Financial LLC raised its stake in shares of General Motors by 4.3% during the fourth quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock valued at $239,000 after acquiring an additional 273 shares during the last quarter. Finally, Sutton Place Investors LLC raised its stake in shares of General Motors by 1.7% during the first quarter. Sutton Place Investors LLC now owns 17,236 shares of the auto manufacturer’s stock valued at $782,000 after acquiring an additional 280 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Motors news, EVP Gerald Johnson sold 15,190 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the sale, the executive vice president now directly owns 98,628 shares in the company, valued at $3,948,078.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Julian G. Blissett sold 13,826 shares of the company’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 sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,248 shares of company stock worth $3,614,078. Corporate insiders own 0.54% of the company’s stock.

General Motors Dividend Announcement

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. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.07%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

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.