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General Motors (GM) Gains As Market Dips: What You Should Know
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The most recent trading session ended with General Motors (GM - Free Report) standing at $45.98, reflecting a +0.66% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 0.96%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 1.18%.
The the stock of an automotive manufacturer has fallen by 3.1% in the past month, lagging the Auto-Tires-Trucks sector's gain of 7.24% and the S&P 500's gain of 4.3%.
Investors will be eagerly watching for the performance of General Motors in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 22, 2024. The company's earnings per share (EPS) are projected to be $2.54, reflecting a 11.4% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $44.93 billion, up 1.81% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.95 per share and revenue of $177.15 billion, indicating changes of +29.56% and +3.09%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for General Motors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.07% rise in the Zacks Consensus EPS estimate. General Motors currently has a Zacks Rank of #3 (Hold).
Investors should also note General Motors's current valuation metrics, including its Forward P/E ratio of 4.59. This represents a discount compared to its industry's average Forward P/E of 12.2.
Meanwhile, GM's PEG ratio is currently 0.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Automotive - Domestic industry had an average PEG ratio of 1.44.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.
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General Motors (GM) Gains As Market Dips: What You Should Know
The most recent trading session ended with General Motors (GM - Free Report) standing at $45.98, reflecting a +0.66% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 0.96%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 1.18%.
The the stock of an automotive manufacturer has fallen by 3.1% in the past month, lagging the Auto-Tires-Trucks sector's gain of 7.24% and the S&P 500's gain of 4.3%.
Investors will be eagerly watching for the performance of General Motors in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 22, 2024. The company's earnings per share (EPS) are projected to be $2.54, reflecting a 11.4% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $44.93 billion, up 1.81% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.95 per share and revenue of $177.15 billion, indicating changes of +29.56% and +3.09%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for General Motors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.07% rise in the Zacks Consensus EPS estimate. General Motors currently has a Zacks Rank of #3 (Hold).
Investors should also note General Motors's current valuation metrics, including its Forward P/E ratio of 4.59. This represents a discount compared to its industry's average Forward P/E of 12.2.
Meanwhile, GM's PEG ratio is currently 0.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Automotive - Domestic industry had an average PEG ratio of 1.44.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.