We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's Why General Motors (GM) Gained But Lagged the Market Today
Read MoreHide Full Article
General Motors (GM - Free Report) closed the most recent trading day at $46.55, moving +0.06% from the previous trading session. This move lagged the S&P 500's daily gain of 0.1%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, added 0.28%.
Coming into today, shares of the an automotive manufacturer had gained 1.75% in the past month. In that same time, the Auto-Tires-Trucks sector gained 16.17%, while the S&P 500 gained 4.08%.
Analysts and investors alike will be keeping a close eye on the performance of General Motors in its upcoming earnings disclosure. The company's earnings report is set to go public on July 23, 2024. On that day, General Motors is projected to report earnings of $2.67 per share, which would represent year-over-year growth of 39.79%. Our most recent consensus estimate is calling for quarterly revenue of $44.94 billion, up 0.43% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.43 per share and revenue of $176.44 billion, which would represent changes of +22.79% and +2.67%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for General Motors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.09% fall in the Zacks Consensus EPS estimate. General Motors is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, General Motors is holding a Forward P/E ratio of 4.93. This valuation marks a discount compared to its industry's average Forward P/E of 12.02.
Investors should also note that GM has a PEG ratio of 0.49 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Automotive - Domestic industry had an average PEG ratio of 1.12 as trading concluded yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 72, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's Why General Motors (GM) Gained But Lagged the Market Today
General Motors (GM - Free Report) closed the most recent trading day at $46.55, moving +0.06% from the previous trading session. This move lagged the S&P 500's daily gain of 0.1%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, added 0.28%.
Coming into today, shares of the an automotive manufacturer had gained 1.75% in the past month. In that same time, the Auto-Tires-Trucks sector gained 16.17%, while the S&P 500 gained 4.08%.
Analysts and investors alike will be keeping a close eye on the performance of General Motors in its upcoming earnings disclosure. The company's earnings report is set to go public on July 23, 2024. On that day, General Motors is projected to report earnings of $2.67 per share, which would represent year-over-year growth of 39.79%. Our most recent consensus estimate is calling for quarterly revenue of $44.94 billion, up 0.43% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.43 per share and revenue of $176.44 billion, which would represent changes of +22.79% and +2.67%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for General Motors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.09% fall in the Zacks Consensus EPS estimate. General Motors is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, General Motors is holding a Forward P/E ratio of 4.93. This valuation marks a discount compared to its industry's average Forward P/E of 12.02.
Investors should also note that GM has a PEG ratio of 0.49 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Automotive - Domestic industry had an average PEG ratio of 1.12 as trading concluded yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 72, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.