Q2 2024 EPS Estimates for General Motors Increased by Wedbush (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Research analysts at Wedbush lifted their Q2 2024 earnings per share (EPS) estimates for General Motors in a report released on Wednesday, April 24th. Wedbush analyst D. Ives now expects that the auto manufacturer will post earnings of $2.74 per share for the quarter, up from their prior estimate of $2.13. 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’ Q3 2024 earnings at $2.62 EPS, Q4 2024 earnings at $1.58 EPS, Q1 2025 earnings at $3.20 EPS and FY2025 earnings at $11.50 EPS.

Several other analysts also recently issued reports on the company. Citigroup upped their price objective on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday. Tigress Financial increased their target price on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. The Goldman Sachs Group increased their target price on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Finally, StockNews.com upgraded General Motors from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.38.

General Motors Stock Up 1.2 %

Shares of NYSE:GM opened at $45.62 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. General Motors has a 52-week low of $26.30 and a 52-week high of $46.04. The stock’s fifty day simple moving average is $42.13 and its 200-day simple moving average is $36.19. The company has a market capitalization of $52.05 billion, a P/E ratio of 5.58, a P/E/G ratio of 0.52 and a beta of 1.51.

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, beating the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same period in the prior year, the business earned $2.21 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis.

Institutional Trading of General Motors

Hedge funds have recently made changes to their positions in the stock. SouthState Corp increased its position in General Motors by 173.8% in 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. Highlander Capital Management LLC acquired a new position in shares of General Motors in the 4th quarter worth $27,000. Cape Investment Advisory Inc. grew its holdings in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in shares of General Motors in the third quarter worth $33,000. Finally, Sachetta LLC acquired a new stake in shares of General Motors in the fourth quarter worth $33,000. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gerald Johnson sold 15,190 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the transaction, the executive vice president now directly owns 98,628 shares in the company, valued at approximately $3,948,078.84. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 in the last 90 days. 0.54% of the stock is owned by corporate insiders.

General Motors Dividend Announcement

The firm also recently disclosed 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 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 (DPR) is presently 5.87%.

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.