General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) announced its earnings results on Tuesday. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47, Briefing.com reports. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the prior year, the company earned $2.28 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. General Motors updated its FY 2024 guidance to 10.000-10.500 EPS and its FY24 guidance to $10.00-10.50 EPS.
General Motors Trading Up 0.1 %
General Motors stock opened at $52.78 on Friday. General Motors has a 1 year low of $26.30 and a 1 year high of $54.29. The firm’s 50 day moving average price is $47.52 and its 200-day moving average price is $46.09. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The stock has a market cap of $60.22 billion, a P/E ratio of 6.44, a PEG ratio of 0.56 and a beta of 1.42.
General Motors Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.91%. General Motors’s payout ratio is 5.87%.
Insider Buying and Selling
Analysts Set New Price Targets
Several equities analysts have commented on GM shares. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Sanford C. Bernstein raised their target price on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday. Royal Bank of Canada lifted their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Wolfe Research initiated coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.06.
Read Our Latest Report on General Motors
General Motors Company Profile
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.
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