Q3 EPS Estimates for General Motors Cut by Zacks Research

General Motors (NYSE:GM) (TSE:GMM.U) – Equities research analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for shares of General Motors in a research note issued on Monday, October 21st. Zacks Research analyst R. Singhi now anticipates that the auto manufacturer will earn $2.54 per share for the quarter, down from their previous forecast of $2.59. The consensus estimate for General Motors’ current full-year earnings is $9.95 per share. Zacks Research also issued estimates for General Motors’ FY2024 earnings at $9.93 EPS, Q3 2025 earnings at $2.43 EPS, FY2025 earnings at $10.33 EPS, Q3 2026 earnings at $2.50 EPS and FY2026 earnings at $10.48 EPS.

A number of other analysts have also weighed in on the company. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research note on Monday, August 5th. The Goldman Sachs Group lifted their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. raised their price objective on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Wolfe Research began coverage on shares of General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Four equities research 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.35.

General Motors Stock Performance

GM opened at $48.92 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The stock has a market capitalization of $55.81 billion, a price-to-earnings ratio of 5.98, a PEG ratio of 0.56 and a beta of 1.42. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50. The company has a fifty day moving average of $47.13 and a 200 day moving average of $45.97.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The company had revenue of $47.97 billion for 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%. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.91 EPS.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.98%. General Motors’s payout ratio is currently 5.87%.

Insider Buying and Selling at General Motors

In other news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value 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 $11,551,173.92. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were purchased 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 of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

Large investors have recently bought and sold shares of the business. Park Avenue Securities LLC grew its stake in shares of General Motors by 16.7% during the 1st quarter. Park Avenue Securities LLC now owns 29,293 shares of the auto manufacturer’s stock valued at $1,328,000 after acquiring an additional 4,185 shares during the period. &PARTNERS purchased a new stake in General Motors during the 1st quarter valued at $238,000. Ballentine Partners LLC raised its holdings in General Motors by 52.6% during the 1st quarter. Ballentine Partners LLC now owns 15,247 shares of the auto manufacturer’s stock valued at $691,000 after buying an additional 5,256 shares during the period. AdvisorNet Financial Inc grew its position in General Motors by 16.5% in the 1st quarter. AdvisorNet Financial Inc now owns 7,916 shares of the auto manufacturer’s stock valued at $359,000 after acquiring an additional 1,122 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new position in General Motors in the 1st quarter valued at $2,644,000. 92.67% of the stock is currently owned by institutional investors.

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.