Zacks Research Comments on General Motors’ Q1 2024 Earnings (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Investment analysts at Zacks Research dropped their Q1 2024 earnings per share (EPS) estimates for shares of General Motors in a report issued on Monday, April 22nd. Zacks Research analyst R. Singhi now expects that the auto manufacturer will earn $1.99 per share for the quarter, down from their previous forecast of $2.01. The consensus estimate for General Motors’ current full-year earnings is $9.12 per share. Zacks Research also issued estimates for General Motors’ Q2 2024 earnings at $2.06 EPS, Q3 2024 earnings at $2.38 EPS, Q4 2024 earnings at $2.49 EPS, FY2024 earnings at $8.93 EPS, Q1 2025 earnings at $2.19 EPS, Q2 2025 earnings at $2.41 EPS, Q3 2025 earnings at $2.52 EPS, Q4 2025 earnings at $2.67 EPS, FY2025 earnings at $9.79 EPS, Q1 2026 earnings at $2.29 EPS and FY2026 earnings at $10.32 EPS.

Several other research firms have also recently weighed in on GM. Morgan Stanley increased their price target on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Tigress Financial raised their target price on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 15th. Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Thursday, January 4th. Finally, Barclays raised their target price on General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.57.

General Motors Price Performance

NYSE GM opened at $43.25 on Tuesday. The business’s fifty day moving average price is $41.73 and its 200-day moving average price is $35.96. The stock has a market capitalization of $49.93 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.50 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. General Motors has a 1-year low of $26.30 and a 1-year high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.08. The firm had revenue of $42.98 billion for the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The company’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 EPS.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.11%. General Motors’s payout ratio is presently 6.57%.

Insider Activity

In other news, CAO Christopher Hatto sold 15,510 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Christopher Hatto sold 15,510 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Highlander Capital Management LLC purchased a new position in General Motors in the fourth quarter worth about $27,000. SouthState Corp grew its position in General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares in the last quarter. Riverview Trust Co purchased a new position in General Motors in the first quarter worth about $38,000. Cape Investment Advisory Inc. grew its position in General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares in the last quarter. Finally, Sachetta LLC bought a new stake in General Motors in the fourth quarter worth about $33,000. Hedge funds and other institutional investors 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.