Q2 2024 EPS Estimates for General Motors Raised by Wedbush (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Stock analysts at Wedbush raised their Q2 2024 EPS estimates for shares of General Motors in a research report issued to clients and investors on Wednesday, April 24th. Wedbush analyst D. Ives now expects that the auto manufacturer will post earnings per share of $2.74 for the quarter, up from their previous forecast of $2.13. Wedbush has a “Outperform” rating and a $55.00 price objective on the stock. The consensus estimate for General Motors’ current full-year earnings is $9.44 per share. Wedbush also issued estimates for General Motors’ Q3 2024 earnings at $2.62 EPS, Q4 2024 earnings at $1.58 EPS, Q1 2025 earnings at $3.20 EPS and FY2025 earnings at $11.50 EPS.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday. Citigroup upped their target price on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho lifted their price target on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research report on Thursday, January 4th. Finally, Tigress Financial boosted their target price on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.65.

General Motors Stock Up 0.4 %

Shares of NYSE GM opened at $45.82 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average of $42.27 and a 200-day moving average of $36.29. The firm has a market capitalization of $52.28 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.52 and a beta of 1.51. General Motors has a 12 month low of $26.30 and a 12 month high of $46.17.

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, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.21 earnings per share.

Institutional Trading of General Motors

Several institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in General Motors in the 4th quarter valued at approximately $602,280,000. Acadian Asset Management LLC lifted its holdings in shares of General Motors by 454.3% during the third quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock valued at $171,961,000 after purchasing an additional 4,275,293 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after buying an additional 3,247,050 shares during the last quarter. Putnam Investments LLC increased its holdings in General Motors by 16.8% in the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after buying an additional 2,905,689 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in General Motors by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after buying an additional 2,049,412 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the company’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 transaction, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction dated Thursday, March 28th. The shares were 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 90 days, insiders have sold 86,248 shares of company stock valued at $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 $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. General Motors’s dividend payout ratio is 5.87%.

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.