General Motors (GM) Set to Announce Quarterly Earnings on Tuesday

General Motors (NYSE:GM) (TSE:GMM.U) will announce its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $2.02 per share for the quarter. General Motors has set its FY 2024 guidance at 8.500-9.500 EPS and its FY24 guidance at $8.50-$9.50 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business had revenue of $42.98 billion for the quarter, compared to analyst estimates of $38.81 billion. During the same quarter last year, the business earned $2.12 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts expect General Motors to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

General Motors Price Performance

NYSE GM opened at $42.69 on Tuesday. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market capitalization of $49.28 billion, a PE ratio of 5.84, a P/E/G ratio of 0.53 and a beta of 1.51. The company’s 50 day simple moving average is $41.33 and its 200 day simple moving average is $35.57.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio (DPR) is currently 6.57%.

Insider Activity at General Motors

In related news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the sale, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the transaction, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,248 shares of company stock valued at $3,614,078. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vident Advisory LLC increased its holdings in shares of General Motors by 3.1% during the 4th quarter. Vident Advisory LLC now owns 8,725 shares of the auto manufacturer’s stock worth $313,000 after purchasing an additional 259 shares during the period. Weik Capital Management boosted its position in shares of General Motors by 3.1% during the 1st quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer’s stock valued at $397,000 after acquiring an additional 275 shares in the last quarter. RFG Advisory LLC boosted its position in shares of General Motors by 5.4% during the 4th quarter. RFG Advisory LLC now owns 5,520 shares of the auto manufacturer’s stock valued at $227,000 after acquiring an additional 281 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of General Motors by 85.8% during the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 283 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of General Motors by 2.4% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,755 shares of the auto manufacturer’s stock valued at $557,000 after acquiring an additional 294 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GM. Wedbush lifted their price target on shares of General Motors from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Morgan Stanley lifted their price target on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Royal Bank of Canada lifted their price target on shares of General Motors from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Barclays lifted their price target on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors has a consensus rating of “Moderate Buy” and a consensus price target of $51.57.

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.