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General Motors (GM) Dips More Than Broader Market: What You Should Know
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General Motors (GM - Free Report) ended the recent trading session at $47.85, demonstrating a -1.6% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.75%, and the tech-heavy Nasdaq lost 1.01%.
Shares of the an automotive manufacturer witnessed a gain of 3.76% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 4.32% and underperforming the S&P 500's gain of 4.31%.
The upcoming earnings release of General Motors will be of great interest to investors. The company's earnings report is expected on October 22, 2024. The company's earnings per share (EPS) are projected to be $2.51, reflecting a 10.09% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $44.94 billion, up 1.82% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.93 per share and revenue of $177.08 billion, which would represent changes of +29.3% and +3.05%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for General Motors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.17% downward. Right now, General Motors possesses a Zacks Rank of #3 (Hold).
Digging into valuation, General Motors currently has a Forward P/E ratio of 4.9. This represents a discount compared to its industry's average Forward P/E of 12.79.
One should further note that GM currently holds a PEG ratio of 0.57. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Automotive - Domestic industry was having an average PEG ratio of 1.52.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 212, positioning it in the bottom 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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General Motors (GM) Dips More Than Broader Market: What You Should Know
General Motors (GM - Free Report) ended the recent trading session at $47.85, demonstrating a -1.6% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.75%, and the tech-heavy Nasdaq lost 1.01%.
Shares of the an automotive manufacturer witnessed a gain of 3.76% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 4.32% and underperforming the S&P 500's gain of 4.31%.
The upcoming earnings release of General Motors will be of great interest to investors. The company's earnings report is expected on October 22, 2024. The company's earnings per share (EPS) are projected to be $2.51, reflecting a 10.09% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $44.94 billion, up 1.82% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.93 per share and revenue of $177.08 billion, which would represent changes of +29.3% and +3.05%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for General Motors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.17% downward. Right now, General Motors possesses a Zacks Rank of #3 (Hold).
Digging into valuation, General Motors currently has a Forward P/E ratio of 4.9. This represents a discount compared to its industry's average Forward P/E of 12.79.
One should further note that GM currently holds a PEG ratio of 0.57. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Automotive - Domestic industry was having an average PEG ratio of 1.52.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 212, positioning it in the bottom 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.