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General Motors Company (GM) Advances While Market Declines: Some Information for Investors
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General Motors Company (GM - Free Report) ended the recent trading session at $35.39, demonstrating a +0.37% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow experienced a drop of 0.62%, and the technology-dominated Nasdaq saw a decrease of 0.19%.
Coming into today, shares of the company had lost 0.51% in the past month. In that same time, the Auto-Tires-Trucks sector lost 4.68%, while the S&P 500 gained 1.56%.
Market participants will be closely following the financial results of General Motors Company in its upcoming release. The company plans to announce its earnings on January 30, 2024. On that day, General Motors Company is projected to report earnings of $1.06 per share, which would represent a year-over-year decline of 50%. Our most recent consensus estimate is calling for quarterly revenue of $39.69 billion, down 7.94% from the year-ago period.
Investors should also note any recent changes to analyst estimates for General Motors Company. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. General Motors Company currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that General Motors Company has a Forward P/E ratio of 4.58 right now. Its industry sports an average Forward P/E of 11.29, so one might conclude that General Motors Company is trading at a discount comparatively.
We can additionally observe that GM currently boasts a PEG ratio of 0.58. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Automotive - Domestic was holding an average PEG ratio of 1.24 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 181, placing it within the bottom 29% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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General Motors Company (GM) Advances While Market Declines: Some Information for Investors
General Motors Company (GM - Free Report) ended the recent trading session at $35.39, demonstrating a +0.37% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow experienced a drop of 0.62%, and the technology-dominated Nasdaq saw a decrease of 0.19%.
Coming into today, shares of the company had lost 0.51% in the past month. In that same time, the Auto-Tires-Trucks sector lost 4.68%, while the S&P 500 gained 1.56%.
Market participants will be closely following the financial results of General Motors Company in its upcoming release. The company plans to announce its earnings on January 30, 2024. On that day, General Motors Company is projected to report earnings of $1.06 per share, which would represent a year-over-year decline of 50%. Our most recent consensus estimate is calling for quarterly revenue of $39.69 billion, down 7.94% from the year-ago period.
Investors should also note any recent changes to analyst estimates for General Motors Company. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. General Motors Company currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that General Motors Company has a Forward P/E ratio of 4.58 right now. Its industry sports an average Forward P/E of 11.29, so one might conclude that General Motors Company is trading at a discount comparatively.
We can additionally observe that GM currently boasts a PEG ratio of 0.58. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Automotive - Domestic was holding an average PEG ratio of 1.24 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 181, placing it within the bottom 29% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.