Brokers

Brokers Set Expectations for General Motors’ Q2 2022 Earnings (NYSE:GM)


General Motors (NYSE:GMGet Rating) (TSE:GMM.U) – Stock analysts at Jefferies Financial Group issued their Q2 2022 earnings per share (EPS) estimates for General Motors in a research report issued to clients and investors on Monday, July 11th. Jefferies Financial Group analyst P. Houchois expects that the auto manufacturer will post earnings per share of $1.68 for the quarter. The consensus estimate for General Motors’ current full-year earnings is $6.86 per share.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 26th. The auto manufacturer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.53. General Motors had a return on equity of 16.37% and a net margin of 7.61%. The firm had revenue of $35.98 billion during the quarter, compared to analysts’ expectations of $36.25 billion. During the same period last year, the business posted $2.25 earnings per share.

Several other brokerages have also recently weighed in on GM. The Goldman Sachs Group reduced their price target on General Motors from $59.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st. Morgan Stanley dropped their price objective on General Motors from $50.00 to $44.00 in a report on Friday, May 13th. Royal Bank of Canada dropped their price objective on General Motors from $70.00 to $58.00 in a report on Wednesday, April 27th. Wedbush dropped their price objective on General Motors from $85.00 to $50.00 in a report on Wednesday, April 27th. Finally, Berenberg Bank assumed coverage on General Motors in a report on Tuesday, May 10th. They issued a “buy” rating and a $55.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Shares of NYSE:GM opened at $31.72 on Wednesday. General Motors has a 52-week low of $30.33 and a 52-week high of $67.21. The stock has a market cap of $46.26 billion, a price-to-earnings ratio of 5.26, a PEG ratio of 0.48 and a beta of 1.25. The company has a quick ratio of 0.93, a current ratio of 1.11 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $35.20 and a 200-day moving average price of $43.49.

In other General Motors news, CFO Paul A. Jacobson bought 35,000 shares of General Motors stock in a transaction on Thursday, April 28th. The shares were bought at an average price of $38.79 per share, for a total transaction of $1,357,650.00. Following the completion of the transaction, the chief financial officer now directly owns 110,000 shares of the company’s stock, valued at $4,266,900. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Stephen K. Carlisle sold 25,645 shares of the business’s stock in a transaction on Friday, April 29th. The shares were sold at an average price of $39.04, for a total value of $1,001,180.80. Following the completion of the sale, the executive vice president now owns 64,170 shares in the company, valued at approximately $2,505,196.80. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of GM. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of General Motors in the 1st quarter valued at $26,000. Penserra Capital Management LLC raised its holdings in shares of General Motors by 85.8% in the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 283 shares during the period. SJS Investment Consulting Inc. raised its holdings in shares of General Motors by 220.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 602 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 414 shares during the period. FSB Premier Wealth Management Inc. acquired a new position in General Motors during the 4th quarter worth $28,000. Finally, Sandy Cove Advisors LLC acquired a new position in General Motors during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 82.66% of the company’s stock.

General Motors Company Profile (Get Rating)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

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