General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) released its earnings results on Tuesday. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47, Briefing.com reports. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.28 earnings per share. 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 Stock Performance
NYSE GM traded down $0.22 during trading hours on Thursday, reaching $52.70. The stock had a trading volume of 11,784,067 shares, compared to its average volume of 15,168,846. The stock has a fifty day moving average of $47.52 and a 200 day moving average of $46.09. The stock has a market cap of $60.13 billion, a P/E ratio of 6.44, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. General Motors has a 52-week low of $26.30 and a 52-week high of $54.29. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.
General Motors Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. General Motors’s dividend payout ratio is currently 5.87%.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on General Motors
Insider Activity at General Motors
In other news, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average price 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 represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other General Motors news, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 531,228 shares of company stock worth $28,267,714 over the last quarter. 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.
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