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

General Motors (NYSE:GM) (TSE:GMM.U) will be announcing its earnings results 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 that are interested in participating in 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 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same period last year, the company posted $1.91 earnings per share. The firm’s 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 Down 0.4 %

NYSE:GM opened at $49.18 on Monday. The business’s 50-day moving average is $47.01 and its two-hundred day moving average is $45.94. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The firm has a market capitalization of $56.11 billion, a PE ratio of 6.01, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $54.00 target price on shares of General Motors in a research note on Wednesday, October 9th. Wedbush restated an “outperform” rating and set a $55.00 target price on shares of General Motors in a research note on Wednesday, October 9th. 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 research note on Monday, September 23rd. Wolfe Research assumed coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.35.

Insider Transactions at General Motors

In other news, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was purchased 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 directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was purchased 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 directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. 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.