General Motors Expected to Earn FY2024 Earnings of $9.53 Per Share (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Equities research analysts at Wedbush upped their FY2024 earnings estimates for shares of General Motors in a research note issued to investors on Wednesday, April 24th. Wedbush analyst D. Ives now forecasts that the auto manufacturer will earn $9.53 per share for the year, up from their previous forecast of $9.00. Wedbush has a “Outperform” rating and a $55.00 price objective on the stock. The consensus estimate for General Motors’ current full-year earnings is $9.44 per share. Wedbush also issued estimates for General Motors’ Q2 2025 earnings at $2.69 EPS, Q3 2025 earnings at $2.67 EPS and Q4 2025 earnings at $2.71 EPS.

A number of other equities research analysts also recently weighed in on the company. Mizuho raised their price target on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday. Redburn Atlantic started coverage on General Motors in a research note on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 target price for the company. Wolfe Research raised shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Thursday, January 4th. Wells Fargo & Company upped their price objective on shares of General Motors from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Morgan Stanley lifted their target price on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.65.

General Motors Stock Performance

NYSE GM opened at $45.82 on Thursday. General Motors has a 52-week low of $26.30 and a 52-week high of $46.17. The company has a fifty day moving average of $42.27 and a 200-day moving average of $36.29. The company has a market capitalization of $52.28 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.52 and a beta of 1.51. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same period last year, the firm posted $2.21 earnings per share. General Motors’s quarterly revenue was up 7.6% on a year-over-year basis.

Institutional Trading of General Motors

A number of hedge funds have recently modified their holdings of GM. SouthState Corp lifted its position in General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the period. LifeSteps Financial Inc. bought a new stake in shares of General Motors in the 1st quarter worth approximately $25,000. Highlander Capital Management LLC purchased a new stake in shares of General Motors in the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. increased its position in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 359 shares in the last quarter. Finally, YHB Investment Advisors Inc. purchased a new position in General Motors during the first quarter valued at $32,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity

In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction that occurred on 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 directly owns 21,507 shares in the company, valued at $860,710.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of 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. Over the last three months, insiders have sold 86,248 shares of company stock valued at $3,614,078. Company insiders own 0.54% of the company’s stock.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. General Motors’s dividend payout ratio is currently 5.87%.

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.