General Motors (NYSE:GM) Expected to Post Quarterly Sales of $38.56 Billion

Analysts expect General Motors (NYSE:GMGet Rating) (TSE:GMM.U) to report $38.56 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for General Motors’ earnings, with the lowest sales estimate coming in at $37.45 billion and the highest estimate coming in at $40.65 billion. General Motors posted sales of $34.17 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.8%. The firm is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that General Motors will report full year sales of $155.31 billion for the current fiscal year, with estimates ranging from $149.75 billion to $162.81 billion. For the next year, analysts expect that the business will post sales of $165.28 billion, with estimates ranging from $161.65 billion to $172.85 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover General Motors.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 26th. The auto manufacturer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.52. General Motors had a return on equity of 16.37% and a net margin of 7.61%. During the same period in the previous year, the company earned $2.25 EPS.

GM has been the topic of a number of analyst reports. Nomura cut their price target on General Motors from $66.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 9th. Citigroup raised their price target on General Motors from $95.00 to $98.00 in a research note on Wednesday, April 27th. Wedbush cut their price target on General Motors from $85.00 to $50.00 in a research note on Wednesday, April 27th. Morgan Stanley cut their price target on General Motors from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 22nd. Finally, Benchmark cut their price target on General Motors from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, March 11th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, General Motors currently has an average rating of “Buy” and a consensus price target of $65.62.

In other General Motors news, EVP Stephen K. Carlisle sold 25,645 shares of General Motors stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $39.04, for a total value of $1,001,180.80. Following the sale, the executive vice president now owns 64,170 shares of the company’s stock, valued at approximately $2,505,196.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul A. Jacobson acquired 35,000 shares of the stock in a transaction on Thursday, April 28th. The stock was acquired at an average cost of $38.79 per share, for a total transaction of $1,357,650.00. Following the acquisition, the chief financial officer now directly owns 110,000 shares in the company, valued at approximately $4,266,900. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of GM. Capital International Investors lifted its position in shares of General Motors by 218,225.9% during the 4th quarter. Capital International Investors now owns 13,682,486 shares of the auto manufacturer’s stock valued at $802,201,000 after acquiring an additional 13,676,219 shares during the period. Norges Bank purchased a new stake in General Motors in the 4th quarter worth approximately $711,435,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in General Motors by 295.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,074,338 shares of the auto manufacturer’s stock worth $469,360,000 after acquiring an additional 6,034,872 shares during the period. BlackRock Inc. grew its stake in General Motors by 4.4% in the 3rd quarter. BlackRock Inc. now owns 117,168,238 shares of the auto manufacturer’s stock worth $6,175,936,000 after acquiring an additional 4,900,052 shares during the period. Finally, Geode Capital Management LLC grew its stake in General Motors by 14.4% in the 3rd quarter. Geode Capital Management LLC now owns 23,039,545 shares of the auto manufacturer’s stock worth $1,210,941,000 after acquiring an additional 2,891,781 shares during the period. Institutional investors own 82.66% of the company’s stock.

Shares of NYSE GM opened at $39.95 on Friday. General Motors has a 12-month low of $37.25 and a 12-month high of $67.21. The company has a current ratio of 1.11, a quick ratio of 0.93 and a debt-to-equity ratio of 1.15. The stock has a market cap of $58.26 billion, a P/E ratio of 6.63, a PEG ratio of 0.55 and a beta of 1.20. The business’s fifty day simple moving average is $41.87 and its 200-day simple moving average is $51.62.

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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