General Motors (NYSE:GM) Issues FY 2022 Earnings Guidance

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $6.500-$7.500 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.700. The company issued revenue guidance of -.

Several equities analysts have commented on GM shares. Nomura Instinet reaffirmed a neutral rating and issued a $56.00 price target (down previously from $66.00) on shares of General Motors in a report on Wednesday, February 9th. StockNews.com started coverage on General Motors in a report on Thursday, March 31st. They issued a hold rating for the company. BNP Paribas assumed coverage on General Motors in a report on Monday, April 11th. They issued an outperform rating for the company. Nomura dropped their target price on General Motors from $66.00 to $56.00 and set a neutral rating for the company in a report on Wednesday, February 9th. Finally, Zacks Investment Research raised General Motors from a hold rating to a buy rating and set a $60.00 target price for the company in a report on Wednesday, December 29th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $68.76.

NYSE GM traded down $1.71 during trading hours on Tuesday, reaching $38.11. 1,519,948 shares of the company’s stock were exchanged, compared to its average volume of 19,769,502. The stock has a market cap of $55.37 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18. General Motors has a one year low of $37.60 and a one year high of $67.21. The firm has a fifty day moving average of $43.28 and a 200-day moving average of $52.59. The company has a current ratio of 1.10, a quick ratio of 0.93 and a debt-to-equity ratio of 1.15.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, February 1st. The auto manufacturer reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.20. The firm had revenue of $33.58 billion for the quarter, compared to analyst estimates of $34.24 billion. General Motors had a return on equity of 17.66% and a net margin of 7.89%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company earned $1.93 EPS. As a group, research analysts forecast that General Motors will post 6.7 EPS for the current year.

In other news, Director Patricia F. Russo acquired 6,000 shares of the firm’s stock in a transaction on Thursday, February 10th. The shares were purchased at an average cost of $50.61 per share, for a total transaction of $303,660.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Julian G. Blissett sold 21,742 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $50.04, for a total value of $1,087,969.68. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. OLD Mission Capital LLC acquired a new position in shares of General Motors in the 3rd quarter valued at $205,000. Raleigh Capital Management Inc. acquired a new stake in General Motors during the 4th quarter worth $182,000. Zullo Investment Group Inc. acquired a new stake in General Motors during the 4th quarter worth $89,000. NewEdge Advisors LLC raised its stake in General Motors by 364.2% during the 4th quarter. NewEdge Advisors LLC now owns 62,636 shares of the auto manufacturer’s stock worth $3,673,000 after buying an additional 49,143 shares during the period. Finally, Peapack Gladstone Financial Corp raised its stake in General Motors by 24.9% during the 4th quarter. Peapack Gladstone Financial Corp now owns 29,738 shares of the auto manufacturer’s stock worth $1,744,000 after buying an additional 5,922 shares during the period. 80.50% of the stock is currently owned by institutional investors.

About General Motors (Get Rating)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

Read More

Earnings History and Estimates for General Motors (NYSE:GM)

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.