Q3 EPS Estimates for General Motors Cut by Zacks Research

General Motors (NYSE:GM) (TSE:GMM.U) – Equities research analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for shares of General Motors in a note issued to investors on Monday, October 21st. Zacks Research analyst R. Singhi now anticipates that the auto manufacturer will post earnings per share of $2.54 for the quarter, down from their previous forecast of $2.59. The consensus estimate for General Motors’ current full-year earnings is $9.95 per share. Zacks Research also issued estimates for General Motors’ FY2024 earnings at $9.93 EPS, Q3 2025 earnings at $2.43 EPS, FY2025 earnings at $10.33 EPS, Q3 2026 earnings at $2.50 EPS and FY2026 earnings at $10.48 EPS.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the previous year, the business earned $1.91 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis.

A number of other equities research analysts have also recently issued reports on GM. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of General Motors in a report on Wednesday, October 9th. Barclays upped their price target on shares of General Motors from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. UBS Group upped their price objective on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, The Goldman Sachs Group increased their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $55.35.

General Motors Trading Up 9.8 %

NYSE:GM opened at $53.73 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $61.30 billion, a PE ratio of 6.57, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The firm’s 50 day moving average is $47.33 and its 200 day moving average is $46.04. General Motors has a 12 month low of $26.30 and a 12 month high of $54.17.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.89%. General Motors’s payout ratio is 5.87%.

Insider Activity at General Motors

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

Institutional Trading of General Motors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GM. Park Avenue Securities LLC grew its position in General Motors by 16.7% during the first quarter. Park Avenue Securities LLC now owns 29,293 shares of the auto manufacturer’s stock valued at $1,328,000 after buying an additional 4,185 shares during the period. &PARTNERS acquired a new stake in shares of General Motors in the first quarter valued at about $238,000. Ballentine Partners LLC grew its position in shares of General Motors by 52.6% in the first quarter. Ballentine Partners LLC now owns 15,247 shares of the auto manufacturer’s stock valued at $691,000 after purchasing an additional 5,256 shares during the period. AdvisorNet Financial Inc grew its position in shares of General Motors by 16.5% in the first quarter. AdvisorNet Financial Inc now owns 7,916 shares of the auto manufacturer’s stock valued at $359,000 after purchasing an additional 1,122 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in shares of General Motors in the first quarter valued at about $2,644,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.