General Motors to Post Q1 2024 Earnings of $1.99 Per Share, Zacks Research Forecasts (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Equities research analysts at Zacks Research reduced their Q1 2024 EPS estimates for shares of General Motors in a research note issued to investors on Monday, April 22nd. Zacks Research analyst R. Singhi now expects that the auto manufacturer will post earnings of $1.99 per share for the quarter, down from their previous estimate of $2.01. The consensus estimate for General Motors’ current full-year earnings is $9.12 per share. Zacks Research also issued estimates for General Motors’ Q2 2024 earnings at $2.06 EPS, Q3 2024 earnings at $2.38 EPS, Q4 2024 earnings at $2.49 EPS, FY2024 earnings at $8.93 EPS, Q1 2025 earnings at $2.19 EPS, Q2 2025 earnings at $2.41 EPS, Q3 2025 earnings at $2.52 EPS, Q4 2025 earnings at $2.67 EPS, FY2025 earnings at $9.79 EPS, Q1 2026 earnings at $2.29 EPS and FY2026 earnings at $10.32 EPS.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The company had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The business’s revenue was up 7.6% compared to the same quarter last year.

Several other analysts have also weighed in on the stock. Wells Fargo & Company lifted their target price on shares of General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a research report on Wednesday, January 31st. Wedbush lifted their target price on shares of General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Mizuho lifted their target price on shares of General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Finally, Royal Bank of Canada lifted their target price on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.52.

General Motors Stock Performance

NYSE:GM opened at $45.10 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. The firm’s 50-day moving average is $41.86 and its 200-day moving average is $36.06. General Motors has a 52-week low of $26.30 and a 52-week high of $46.04. The company has a market cap of $52.06 billion, a price-to-earnings ratio of 6.17, a PEG ratio of 0.50 and a beta of 1.51.

Institutional Investors Weigh In On General Motors

Institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC raised its stake in shares of General Motors by 361.1% during the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after buying an additional 93,754 shares during the last quarter. Foundry Partners LLC raised its stake in shares of General Motors by 15.0% during the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after buying an additional 51,336 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of General Motors by 10.5% during the third quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after buying an additional 14,002 shares during the last quarter. AM Squared Ltd raised its stake in shares of General Motors by 195.0% during the fourth quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock worth $1,483,000 after buying an additional 27,300 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of General Motors by 7.7% during the fourth quarter. Strs Ohio now owns 1,532,997 shares of the auto manufacturer’s stock worth $55,065,000 after buying an additional 109,760 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Transactions at General Motors

In other news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following 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 is available through the SEC website. In other news, EVP Rory Harvey sold 5,100 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the transaction, the executive vice president now directly owns 12,658 shares in the company, valued at $544,800.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now directly 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 three months, insiders have 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. Stockholders of record on Friday, June 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. General Motors’s payout ratio is 6.57%.

General Motors Company Profile

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.