Q3 2024 EPS Estimates for General Motors Cut by Zacks Research (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Equities researchers at Zacks Research reduced their Q3 2024 earnings per share estimates for shares of General Motors in a note issued to investors on Tuesday, May 7th. Zacks Research analyst R. Singhi now anticipates that the auto manufacturer will earn $2.37 per share for the quarter, down from their prior forecast of $2.38. The consensus estimate for General Motors’ current full-year earnings is $9.44 per share. Zacks Research also issued estimates for General Motors’ Q4 2024 earnings at $1.88 EPS, Q1 2025 earnings at $2.28 EPS, Q2 2025 earnings at $2.35 EPS, Q3 2025 earnings at $2.31 EPS, Q4 2025 earnings at $2.27 EPS, FY2025 earnings at $9.21 EPS, Q1 2026 earnings at $2.32 EPS and FY2026 earnings at $9.45 EPS.

Several other analysts have also recently commented on the company. Wedbush lifted their price target on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Sanford C. Bernstein initiated coverage on shares of General Motors in a research note on Thursday, April 25th. They set an “outperform” rating and a $55.00 price target on the stock. Tigress Financial boosted their price objective on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 15th. Barclays raised their price target on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, The Goldman Sachs Group raised their target price on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.65.

General Motors Price Performance

General Motors stock opened at $45.36 on Friday. The firm’s 50-day moving average is $43.14 and its two-hundred day moving average is $37.16. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The stock has a market capitalization of $51.75 billion, a P/E ratio of 5.55, a P/E/G ratio of 0.53 and a beta of 1.49. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. The firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 EPS.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.06%. General Motors’s payout ratio is 5.87%.

Insider Activity

In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other General Motors news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now 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 sold 86,248 shares of company stock worth $3,614,078 over the last three months. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of General Motors by 1.4% in the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after purchasing an additional 1,580,681 shares in the last quarter. Putnam Investments LLC lifted its position in General Motors by 16.8% in the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after buying an additional 2,905,689 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after buying an additional 3,247,050 shares during the period. Norges Bank purchased a new position in shares of General Motors during the 4th quarter valued at $602,280,000. Finally, Morgan Stanley increased its stake in shares of General Motors by 1.3% in the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after acquiring an additional 201,080 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.