Zacks: Brokerages Anticipate General Motors (NYSE:GM) Will Post Earnings of $1.93 Per Share

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Brokerages predict that General Motors (NYSE:GM) (TSE:GMM.U) will post earnings of $1.93 per share for the current quarter, according to Zacks. Two analysts have made estimates for General Motors’ earnings, with estimates ranging from $1.89 to $2.00. General Motors reported earnings of $1.87 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The firm is expected to report its next quarterly earnings report on Wednesday, October 30th.

On average, analysts expect that General Motors will report full-year earnings of $6.80 per share for the current year, with EPS estimates ranging from $6.67 to $6.90. For the next fiscal year, analysts expect that the firm will report earnings of $6.36 per share, with EPS estimates ranging from $4.95 to $7.40. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover General Motors.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.21. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The firm had revenue of $36.06 billion for the quarter, compared to analysts’ expectations of $36.03 billion. During the same period in the previous year, the firm earned $1.81 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis.

A number of research analysts have recently weighed in on GM shares. Morgan Stanley set a $46.00 price objective on General Motors and gave the company a “buy” rating in a research report on Monday, August 12th. Citigroup lifted their price objective on General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. ValuEngine cut General Motors from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Credit Suisse Group started coverage on General Motors in a research report on Wednesday, June 26th. They set an “outperform” rating and a $48.00 price objective on the stock. Finally, Nomura set a $38.00 target price on General Motors and gave the company a “hold” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. General Motors currently has an average rating of “Buy” and an average target price of $46.58.

In related news, President Mark L. Reuss sold 275,944 shares of General Motors stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the sale, the president now owns 479,413 shares of the company’s stock, valued at approximately $19,190,902.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew Tsien sold 83,067 shares of General Motors stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $39.50, for a total value of $3,281,146.50. Following the sale, the executive vice president now directly owns 84,667 shares in the company, valued at approximately $3,344,346.50. The disclosure for this sale can be found here. Insiders have sold a total of 375,944 shares of company stock worth $14,996,038 in the last three months. 0.51% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in General Motors by 83.3% in the 1st quarter. FMR LLC now owns 8,016,745 shares of the auto manufacturer’s stock worth $297,421,000 after acquiring an additional 3,643,659 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in General Motors in the 1st quarter worth approximately $657,000. WealthPLAN Partners LLC increased its stake in General Motors by 9.6% in the 1st quarter. WealthPLAN Partners LLC now owns 12,598 shares of the auto manufacturer’s stock worth $471,000 after acquiring an additional 1,104 shares during the last quarter. Cutter & CO Brokerage Inc. bought a new stake in General Motors in the 2nd quarter worth approximately $429,000. Finally, Rathbone Brothers plc bought a new stake in General Motors in the 1st quarter worth approximately $215,000. 77.36% of the stock is currently owned by institutional investors.

Shares of GM stock traded down $0.21 during trading hours on Friday, reaching $38.86. 10,133,500 shares of the company traded hands, compared to its average volume of 8,648,374. General Motors has a 12-month low of $30.56 and a 12-month high of $41.90. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.96 and a quick ratio of 0.83. The company has a market cap of $55.88 billion, a P/E ratio of 5.94, a P/E/G ratio of 0.65 and a beta of 1.42. The firm has a 50-day moving average price of $38.45 and a 200 day moving average price of $38.02.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.91%. The ex-dividend date is Thursday, September 5th. General Motors’s dividend payout ratio (DPR) is presently 23.24%.

General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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