General Motors (NYSE:GM) Expected to Announce Quarterly Sales of $35.81 Billion

Brokerages forecast that General Motors (NYSE:GM) (TSE:GMM.U) will post $35.81 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for General Motors’ earnings, with the lowest sales estimate coming in at $35.30 billion and the highest estimate coming in at $36.31 billion. General Motors reported sales of $36.76 billion during the same quarter last year, which indicates a negative year over year growth rate of 2.6%. The firm is scheduled to report its next earnings results on Wednesday, July 24th.

On average, analysts expect that General Motors will report full-year sales of $145.86 billion for the current year, with estimates ranging from $144.50 billion to $147.44 billion. For the next financial year, analysts expect that the firm will post sales of $144.63 billion, with estimates ranging from $140.45 billion to $146.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow General Motors.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 30th. The auto manufacturer reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.32. General Motors had a net margin of 6.26% and a return on equity of 22.67%. The firm had revenue of $34.88 billion during the quarter, compared to the consensus estimate of $35.56 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year.

A number of brokerages have recently weighed in on GM. ValuEngine downgraded shares of General Motors from a “hold” rating to a “sell” rating in a report on Saturday, June 1st. Nomura set a $42.00 price target on shares of General Motors and gave the stock a “hold” rating in a report on Thursday, May 2nd. Zacks Investment Research downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and set a $36.00 price target on shares of General Motors in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $47.43.

In related news, CFO Dhivya Suryadevara sold 34,756 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.40, for a total transaction of $1,299,874.40. Following the completion of the transaction, the chief financial officer now directly owns 10,741 shares in the company, valued at approximately $401,713.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wesley G. Bush acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $38.58 per share, with a total value of $385,800.00. The disclosure for this purchase can be found here. 0.51% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Liberty Wealth Management LLC acquired a new position in General Motors in the 4th quarter valued at approximately $30,000. Massey Quick Simon & CO. LLC acquired a new position in General Motors in the 1st quarter valued at approximately $35,000. Truvestments Capital LLC acquired a new position in General Motors in the 1st quarter valued at approximately $37,000. Bremer Bank National Association acquired a new position in General Motors in the 1st quarter valued at approximately $37,000. Finally, Advisory Alpha LLC acquired a new position in General Motors in the 1st quarter valued at approximately $42,000. Institutional investors and hedge funds own 76.98% of the company’s stock.

Shares of General Motors stock traded down $0.36 on Friday, reaching $35.66. 4,948,346 shares of the stock were exchanged, compared to its average volume of 9,183,877. General Motors has a one year low of $30.56 and a one year high of $45.00. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. The company has a market cap of $50.58 billion, a PE ratio of 5.45, a price-to-earnings-growth ratio of 0.60 and a beta of 1.34.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Thursday, June 6th. General Motors’s dividend payout ratio is 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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