General Motors (NYSE:GM) to Post FY2024 Earnings of $9.53 Per Share, Wedbush Forecasts

General Motors (NYSE:GM) (TSE:GMM.U) – Stock analysts at Wedbush raised their FY2024 earnings per share (EPS) estimates for General Motors in a research note issued on Wednesday, April 24th. Wedbush analyst D. Ives now anticipates that the auto manufacturer will earn $9.53 per share for the year, up from their previous forecast of $9.00. Wedbush has a “Outperform” rating and a $55.00 price target 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’ Q2 2025 earnings at $2.69 EPS, Q3 2025 earnings at $2.67 EPS and Q4 2025 earnings at $2.71 EPS.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada increased their price objective on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday. Sanford C. Bernstein began coverage on General Motors in a report on Thursday. They issued an “outperform” rating and a $55.00 price target on the stock. The Goldman Sachs Group upped their price objective on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Piper Sandler boosted their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors has an average rating of “Moderate Buy” and a consensus price target of $54.65.

General Motors Trading Up 0.4 %

NYSE GM opened at $45.82 on Thursday. General Motors has a one year low of $26.30 and a one year high of $46.17. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. The company has a market capitalization of $52.28 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company’s 50-day simple moving average is $42.27 and its two-hundred day simple moving average is $36.29.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company earned $2.21 EPS. The business’s revenue was up 7.6% compared to the same quarter last year.

Institutional Trading of General Motors

A number of institutional investors and hedge funds have recently made changes to their positions in GM. LifeSteps Financial Inc. acquired a new position in shares of General Motors during the 1st quarter worth about $25,000. YHB Investment Advisors Inc. purchased a new position in shares of General Motors in the first quarter valued at approximately $32,000. Highlander Capital Management LLC purchased a new position in shares of General Motors in the fourth quarter valued at approximately $27,000. SouthState Corp boosted its stake in shares of General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of General Motors during the first quarter worth approximately $38,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In other news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the transaction, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was 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 directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 over the last quarter. 0.54% of the stock is currently owned by insiders.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend 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.