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

General Motors (NYSE:GM) (TSE:GMM.U) will be releasing its earnings data before the market opens on Tuesday, April 23rd. Analysts expect General Motors to post earnings of $2.02 per share for the quarter. General Motors has set its FY 2024 guidance at 8.500-9.500 EPS and its FY24 guidance at $8.50-$9.50 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. The company had revenue of $42.98 billion during the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.12 EPS. On average, analysts expect General Motors to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

General Motors Stock Performance

Shares of NYSE:GM opened at $42.37 on Friday. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04. The stock has a market capitalization of $48.91 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90. The company’s 50 day simple moving average is $41.65 and its 200 day simple moving average is $35.83.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, March 1st were paid a $0.12 dividend. This is a positive change from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.13%. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GM. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Wells Fargo & Company lifted their price target on shares of General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, January 31st. Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Thursday, January 4th. Piper Sandler started coverage on shares of General Motors in a report on Friday, March 15th. They set a “neutral” rating and a $44.00 price target for the company. Finally, Mizuho raised their price objective on General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.57.

Insider Activity at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred 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 completion of 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 SEC, which can be accessed through the SEC website. In related news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’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 value of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 over the last ninety days. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC increased its holdings in shares of General Motors by 85.8% during the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 283 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in General Motors in the 4th quarter valued at $29,000. O Dell Group LLC bought a new stake in General Motors during the 4th quarter valued at $29,000. VitalStone Financial LLC raised its holdings in General Motors by 8,026.7% during the first quarter. VitalStone Financial LLC now owns 1,219 shares of the auto manufacturer’s stock worth $71,000 after buying an additional 1,204 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of General Motors by 64.8% in the first quarter. Quarry LP now owns 1,549 shares of the auto manufacturer’s stock valued at $57,000 after buying an additional 609 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

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.