General Motors (GM) Scheduled to Post Quarterly Earnings on Tuesday

General Motors (NYSE:GM) (TSE:GMM.U) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, October 22nd. Analysts expect the company to announce earnings of $2.54 per share for the quarter. General Motors has set its FY 2024 guidance at 9.500-10.500 EPS and its FY24 guidance at $9.50-10.50 EPS.Parties interested in participating in the company’s conference call can do so using this link.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. During the same quarter in the previous year, the firm posted $1.91 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts expect General Motors to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

General Motors Stock Performance

NYSE GM opened at $49.18 on Monday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The business’s 50 day moving average is $47.01 and its two-hundred day moving average is $45.94. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The stock has a market capitalization of $56.11 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 0.56 and a beta of 1.42.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GM shares. UBS Group upped their price target on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wolfe Research started coverage on General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of General Motors in a report on Wednesday, October 9th. Barclays upped their price target on General Motors from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, The Goldman Sachs Group upped their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus price target of $55.35.

Insiders Place Their Bets

In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of General Motors stock in a transaction on Friday, July 26th. The shares were bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

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.