General Motors (GM) Scheduled to Post Quarterly Earnings on Tuesday

General Motors (NYSE:GM) (TSE:GMM.U) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, October 22nd. Analysts expect the company to announce earnings of $2.54 per share for the quarter. General Motors has set its FY 2024 guidance at 9.500-10.500 EPS and its FY24 guidance at $9.50-10.50 EPS.Investors interested in registering for the company’s conference call can do so using this link.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. During the same period in the prior year, the company earned $1.91 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts expect General Motors to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

General Motors Trading Up 1.6 %

NYSE GM opened at $48.65 on Tuesday. The company has a market cap of $55.51 billion, a price-to-earnings ratio of 5.95, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The business’s fifty day moving average is $46.45 and its 200 day moving average is $45.83.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s dividend payout ratio (DPR) is 5.87%.

Wall Street Analyst Weigh In

GM has been the subject of a number of research analyst reports. Sanford C. Bernstein downgraded General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a report on Monday, September 23rd. Wells Fargo & Company cut their price target on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. UBS Group lifted their price objective on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, General Motors has an average rating of “Hold” and an average price target of $55.16.

Insider Activity

In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.