FY2024 Earnings Forecast for General Motors Issued By Wedbush (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Analysts at Wedbush raised their FY2024 earnings estimates for shares of General Motors in a research report issued to clients and investors on Wednesday, April 24th. Wedbush analyst D. Ives now forecasts that the auto manufacturer will post earnings of $9.53 per share for the year, up from their previous estimate of $9.00. Wedbush currently has a “Outperform” rating and a $55.00 target price on the stock. The consensus estimate for General Motors’ current full-year earnings is $9.26 per share. Wedbush also issued estimates for General Motors’ Q2 2025 earnings at $2.69 EPS, Q3 2025 earnings at $2.67 EPS and Q4 2025 earnings at $2.71 EPS.

A number of other research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on General Motors from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Wednesday. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Sanford C. Bernstein initiated coverage on General Motors in a report on Thursday. They issued an “outperform” rating and a $55.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.38.

General Motors Stock Up 1.2 %

Shares of NYSE:GM opened at $45.62 on Thursday. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. The company’s fifty day moving average is $42.13 and its 200-day moving average is $36.19. The company has a market capitalization of $52.67 billion, a PE ratio of 5.58, a P/E/G ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. 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 company earned $2.21 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. General Motors’s dividend payout ratio is 5.87%.

Insider Buying and Selling

In related news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly 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 is available through the SEC website. In other news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. In the last three months, insiders sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Several hedge funds have recently made changes to their positions in the business. Checchi Capital Advisers LLC grew its stake in shares of General Motors by 11.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 7,516 shares of the auto manufacturer’s stock worth $341,000 after acquiring an additional 774 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of General Motors by 5.2% in the 1st quarter. Lindbrook Capital LLC now owns 6,853 shares of the auto manufacturer’s stock valued at $311,000 after buying an additional 341 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of General Motors by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,815,844 shares of the auto manufacturer’s stock valued at $581,199,000 after buying an additional 438,065 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of General Motors by 1.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 250,515 shares of the auto manufacturer’s stock valued at $11,361,000 after buying an additional 3,186 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of General Motors by 6.1% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 241,789 shares of the auto manufacturer’s stock valued at $10,965,000 after buying an additional 14,000 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

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.