General Motors (GM) Set to Announce Quarterly Earnings on Tuesday

General Motors (NYSE:GM) (TSE:GMM.U) is set to issue its quarterly earnings data before the market opens on Tuesday, October 22nd. Analysts expect the company to announce earnings of $2.54 per share for the quarter. General Motors has set its FY 2024 guidance at 9.500-10.500 EPS and its FY24 guidance at $9.50-10.50 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. The firm had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.91 earnings per share. On average, analysts expect General Motors to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

General Motors Stock Down 0.4 %

Shares of NYSE:GM opened at $49.18 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The firm has a 50 day simple moving average of $47.01 and a 200-day simple moving average of $45.93. The company has a market capitalization of $56.11 billion, a PE ratio of 6.01, a P/E/G ratio of 0.56 and a beta of 1.42. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and set a $55.00 price objective on shares of General Motors in a research report on Wednesday, October 9th. Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 price objective on shares of General Motors in a research report on Wednesday, October 9th. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.35.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other General Motors news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate 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.