Q2 2022 Earnings Estimate for General Motors Issued By Wedbush (NYSE:GM)

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) – Equities research analysts at Wedbush cut their Q2 2022 earnings per share estimates for shares of General Motors in a research note issued on Wednesday, April 27th. Wedbush analyst D. Ives now forecasts that the auto manufacturer will post earnings per share of $1.56 for the quarter, down from their prior forecast of $1.72. Wedbush also issued estimates for General Motors’ Q3 2022 earnings at $1.63 EPS, Q1 2023 earnings at $1.84 EPS, Q2 2023 earnings at $1.85 EPS, Q3 2023 earnings at $1.76 EPS, Q4 2023 earnings at $1.86 EPS, FY2023 earnings at $6.81 EPS and FY2025 earnings at $8.22 EPS.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last posted its earnings results on Tuesday, April 26th. The auto manufacturer reported $2.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.52. General Motors had a net margin of 7.89% and a return on equity of 17.66%. During the same period last year, the firm earned $2.25 EPS.

Several other equities analysts have also issued reports on the company. Wolfe Research boosted their price objective on General Motors from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, March 21st. Morgan Stanley dropped their price objective on shares of General Motors from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 22nd. Nomura Instinet reaffirmed a “neutral” rating and issued a $56.00 target price (down from $66.00) on shares of General Motors in a research note on Wednesday, February 9th. JPMorgan Chase & Co. dropped their price target on General Motors from $75.00 to $71.00 in a research note on Monday. Finally, BNP Paribas began coverage on General Motors in a report on Monday, April 11th. They set an “outperform” rating for the company. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, General Motors presently has a consensus rating of “Buy” and a consensus price target of $65.62.

GM stock opened at $38.75 on Friday. General Motors has a 1-year low of $37.31 and a 1-year high of $67.21. The business’s 50-day moving average price is $42.64 and its two-hundred day moving average price is $52.26. The firm has a market cap of $56.30 billion, a PE ratio of 5.77, a P/E/G ratio of 0.62 and a beta of 1.18. The company has a current ratio of 1.10, a quick ratio of 0.93 and a debt-to-equity ratio of 1.15.

In other news, EVP Julian G. Blissett sold 21,742 shares of General Motors stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia F. Russo purchased 6,000 shares of General Motors stock in a transaction that occurred on Thursday, February 10th. The shares were bought at an average cost of $50.61 per share, for a total transaction of $303,660.00. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Fieldpoint Private Securities LLC raised its position in General Motors by 21.6% during the third quarter. Fieldpoint Private Securities LLC now owns 936 shares of the auto manufacturer’s stock valued at $49,000 after purchasing an additional 166 shares in the last quarter. Veriti Management LLC raised its stake in General Motors by 0.8% during the fourth quarter. Veriti Management LLC now owns 20,650 shares of the auto manufacturer’s stock worth $1,211,000 after acquiring an additional 172 shares in the last quarter. Liberty Wealth Management LLC lifted its holdings in shares of General Motors by 50.1% in the third quarter. Liberty Wealth Management LLC now owns 518 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 173 shares during the last quarter. Lindbrook Capital LLC increased its position in General Motors by 6.3% during the 4th quarter. Lindbrook Capital LLC now owns 2,927 shares of the auto manufacturer’s stock worth $172,000 after purchasing an additional 174 shares in the last quarter. Finally, D Orazio & Associates Inc. lifted its stake in General Motors by 9.0% in the 3rd quarter. D Orazio & Associates Inc. now owns 2,113 shares of the auto manufacturer’s stock valued at $111,000 after purchasing an additional 175 shares during the last quarter. 80.50% of the stock is currently owned by hedge funds and other 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.

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

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