$36.69 Billion in Sales Expected for General Motors (NYSE:GM) This Quarter
Equities research analysts expect that General Motors (NYSE:GM) (TSE:GMM.U) will report sales of $36.69 billion for the current quarter, Zacks reports. Two analysts have provided estimates for General Motors’ earnings, with estimates ranging from $36.46 billion to $36.92 billion. General Motors reported sales of $35.79 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.5%. The business is expected to announce its next earnings results on Wednesday, October 30th.
On average, analysts expect that General Motors will report full year sales of $145.86 billion for the current year, with estimates ranging from $144.75 billion to $147.44 billion. For the next financial year, analysts forecast that the firm will report sales of $144.01 billion, with estimates ranging from $138.14 billion to $146.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover General Motors.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.21. The company had revenue of $36.06 billion for the quarter, compared to analysts’ expectations of $36.03 billion. General Motors had a net margin of 6.31% and a return on equity of 21.08%. General Motors’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.81 EPS.
In other news, EVP Matthew Tsien sold 16,933 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $39.50, for a total transaction of $668,853.50. Following the sale, the executive vice president now owns 18,533 shares in the company, valued at approximately $732,053.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Mark L. Reuss sold 275,944 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were 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 in the company, valued at approximately $19,190,902.39. The disclosure for this sale can be found here. Insiders sold a total of 375,944 shares of company stock worth $14,996,038 over the last quarter. Corporate insiders own 0.51% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. AGF Investments LLC raised its position in shares of General Motors by 28.0% during the 2nd quarter. AGF Investments LLC now owns 1,183 shares of the auto manufacturer’s stock valued at $46,000 after buying an additional 259 shares in the last quarter. Econ Financial Services Corp grew its holdings in shares of General Motors by 3.3% during the 1st quarter. Econ Financial Services Corp now owns 8,164 shares of the auto manufacturer’s stock valued at $303,000 after purchasing an additional 264 shares during the last quarter. Cedar Brook Financial Partners LLC grew its holdings in shares of General Motors by 4.2% during the 1st quarter. Cedar Brook Financial Partners LLC now owns 6,827 shares of the auto manufacturer’s stock valued at $253,000 after purchasing an additional 276 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in shares of General Motors by 11.1% during the 1st quarter. Zions Bancorporation N.A. now owns 2,906 shares of the auto manufacturer’s stock valued at $108,000 after purchasing an additional 290 shares during the last quarter. Finally, Milestone Group Inc. grew its holdings in shares of General Motors by 4.1% during the 2nd quarter. Milestone Group Inc. now owns 7,350 shares of the auto manufacturer’s stock valued at $283,000 after purchasing an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 77.36% of the company’s stock.
Shares of GM stock traded down $0.21 during trading on Friday, reaching $38.86. 8,666,864 shares of the company’s stock traded hands, compared to its average volume of 5,881,859. The company has a market capitalization of $55.78 billion, a P/E ratio of 5.94, a PEG ratio of 0.65 and a beta of 1.42. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56. The firm’s 50-day moving average is $38.45 and its 200 day moving average is $38.02. General Motors has a 1 year low of $30.56 and a 1 year high of $41.90.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, September 5th. General Motors’s dividend payout ratio is presently 23.24%.
About General Motors
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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