General Motors (NYSE:GM) Updates FY 2022 Earnings Guidance

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) updated its FY 2022 earnings guidance on Friday. The company provided earnings per share guidance of $6.50-$7.50 for the period, compared to the consensus earnings per share estimate of $7.00. The company issued revenue guidance of -. General Motors also updated its FY22 guidance to $6.50-7.50 EPS.

A number of analysts recently issued reports on the company. TheStreet cut General Motors from a b- rating to a c+ rating in a research note on Friday, May 20th. Morgan Stanley cut their price objective on shares of General Motors from $50.00 to $44.00 in a research report on Friday, May 13th. BNP Paribas started coverage on General Motors in a report on Monday, April 11th. They set an outperform rating for the company. StockNews.com assumed coverage on General Motors in a report on Thursday, March 31st. They issued a hold rating on the stock. Finally, Wedbush decreased their price objective on General Motors from $85.00 to $50.00 in a report on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, General Motors presently has an average rating of Moderate Buy and an average price target of $60.17.

GM traded up $0.04 on Friday, reaching $31.80. The company had a trading volume of 624,224 shares, compared to its average volume of 18,905,559. The stock has a market cap of $46.37 billion, a P/E ratio of 5.27, a P/E/G ratio of 0.51 and a beta of 1.20. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.93 and a current ratio of 1.11. General Motors has a fifty-two week low of $30.65 and a fifty-two week high of $67.21. The company’s fifty day moving average is $36.51 and its 200 day moving average is $45.03.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last posted its earnings results on Tuesday, April 26th. The auto manufacturer reported $2.09 EPS for the quarter, beating the consensus estimate of $1.56 by $0.53. The company had revenue of $35.98 billion for the quarter, compared to the consensus estimate of $36.25 billion. General Motors had a return on equity of 16.37% and a net margin of 7.61%. During the same quarter in the prior year, the business earned $2.25 earnings per share. On average, sell-side analysts expect that General Motors will post 6.89 EPS for the current year.

In other General Motors news, EVP Stephen K. Carlisle sold 25,645 shares of General Motors stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $39.04, for a total value of $1,001,180.80. Following the transaction, the executive vice president now owns 64,170 shares in the company, valued at $2,505,196.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Paul A. Jacobson acquired 35,000 shares of the stock in a transaction that occurred on Thursday, April 28th. The shares were bought at an average price of $38.79 per share, with a total value of $1,357,650.00. Following the completion of the transaction, the chief financial officer now owns 110,000 shares in the company, valued at $4,266,900. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC boosted its position in General Motors by 85.8% during the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after buying an additional 283 shares during the period. Covestor Ltd boosted its stake in shares of General Motors by 63.7% in the 1st quarter. Covestor Ltd now owns 2,622 shares of the auto manufacturer’s stock valued at $115,000 after purchasing an additional 1,020 shares during the last quarter. Zions Bancorporation N.A. increased its position in shares of General Motors by 71.3% during the first quarter. Zions Bancorporation N.A. now owns 3,613 shares of the auto manufacturer’s stock worth $158,000 after buying an additional 1,504 shares during the period. Brighton Jones LLC raised its stake in General Motors by 13.9% during the first quarter. Brighton Jones LLC now owns 4,768 shares of the auto manufacturer’s stock worth $208,000 after buying an additional 581 shares during the last quarter. Finally, Merit Financial Group LLC lifted its holdings in General Motors by 27.8% in the first quarter. Merit Financial Group LLC now owns 4,845 shares of the auto manufacturer’s stock valued at $212,000 after buying an additional 1,055 shares during the period. Hedge funds and other institutional investors own 82.66% of the company’s stock.

General Motors Company Profile (Get Rating)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

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Earnings History and Estimates for General Motors (NYSE:GM)

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