Zacks Research Weighs in on General Motors’ Q1 2024 Earnings (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) – Stock analysts at Zacks Research dropped their Q1 2024 EPS estimates for General Motors in a research report issued on Monday, April 22nd. Zacks Research analyst R. Singhi now forecasts that the auto manufacturer will post earnings per share of $1.99 for the quarter, down from their previous estimate of $2.01. The consensus estimate for General Motors’ current full-year earnings is $9.12 per share. Zacks Research also issued estimates for General Motors’ Q2 2024 earnings at $2.06 EPS, Q3 2024 earnings at $2.38 EPS, Q4 2024 earnings at $2.49 EPS, FY2024 earnings at $8.93 EPS, Q1 2025 earnings at $2.19 EPS, Q2 2025 earnings at $2.41 EPS, Q3 2025 earnings at $2.52 EPS, Q4 2025 earnings at $2.67 EPS, FY2025 earnings at $9.79 EPS, Q1 2026 earnings at $2.29 EPS and FY2026 earnings at $10.32 EPS.

Several other research analysts also recently commented on the company. Tigress Financial lifted their target price on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 15th. Mizuho lifted their price objective on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group increased their price objective on shares of General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday. Wolfe Research raised shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Thursday, January 4th. Finally, Barclays increased their price target 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 analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and an average target price of $54.35.

General Motors Trading Down 0.1 %

General Motors stock opened at $45.07 on Tuesday. The stock has a 50-day simple moving average of $42.00 and a 200 day simple moving average of $36.12. The stock has a market capitalization of $52.03 billion, a P/E ratio of 6.17, a PEG ratio of 0.51 and a beta of 1.51. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 EPS.

General Motors Dividend Announcement

The company 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 of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.07%. General Motors’s payout ratio is 6.57%.

Insider Buying and Selling at General Motors

In related news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction dated 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 transaction, 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 ninety days. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Motors

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

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.