General Motors (NYSE:GM) Releases FY 2024 Earnings Guidance

General Motors (NYSE:GM) (TSE:GMM.U) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 9.000-10.000 for the period, compared to the consensus estimate of 9.080. The company issued revenue guidance of -. General Motors also updated its FY24 guidance to 9.00-10.00 EPS.

General Motors Trading Up 1.2 %

NYSE:GM traded up $0.54 during mid-day trading on Thursday, reaching $45.62. 14,513,333 shares of the company’s stock traded hands, compared to its average volume of 17,521,344. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The firm has a market capitalization of $52.67 billion, a price-to-earnings ratio of 5.58, a PEG ratio of 0.53 and a beta of 1.51. The company has a 50 day moving average price of $42.13 and a 200-day moving average price of $36.19. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 earnings per share. On average, sell-side analysts predict that General Motors will post 9.26 earnings per share for the current year.

General Motors Dividend Announcement

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 issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. General Motors’s dividend payout ratio is presently 5.87%.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Motors from $44.00 to $50.00 and gave the company a hold rating in a research note on Tuesday. Morgan Stanley raised their price target on shares of General Motors from $43.00 to $46.00 and gave the company an overweight rating in a report on Wednesday, April 10th. Wedbush boosted their price target on General Motors from $45.00 to $55.00 and gave the stock an outperform rating in a research note on Wednesday. Piper Sandler lifted their price objective on General Motors from $44.00 to $45.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Barclays lifted their price objective on shares of General Motors from $50.00 to $55.00 and gave the company an overweight rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $54.38.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the business’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 value of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Gerald Johnson sold 15,190 shares of General Motors stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the transaction, the executive vice president now directly owns 98,628 shares of the company’s stock, valued at approximately $3,948,078.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction 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 owns 87,567 shares in the company, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 in the last three months. 0.54% of the stock is currently owned by company insiders.

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.