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General Motors Company (GM) closed the latest trading day at $36.70, indicating a +1.97% change from the previous session’s end. The stock outperformed the S&P 500, which registered a daily gain of 1.41%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 2.2%.
The company’s shares are up 6. 64% over the past month, outpacing the gain in the car and truck tire sector by 0. 15% and the S
Analysts and investors will be keeping a close eye on General Motors’ functionality when it releases the next report. The company’s earnings report is expected to be released on January 30, 2024. On that day, General Motors Company is expected to report consistent earnings of $1. 06. with participation, which would constitute a year-on-year decrease of 50%. At the same time, our recent consensus peak estimate forecasts earnings of $39. 69 billion, reflecting a 7. 94% decline from the same quarter last year.
Investors are also taking note of any recent changes in analysts’ estimates for General Motors Company. These reviews help show the ever-changing nature of short-term trading trends. Therefore, the positive changes in the estimates represent analysts’ optimism about the company’s business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which goes from No. 1 (Strong Buy) to No. 5 (Strong Sell), has an impressive track record of externally audited outperformance, with No. 1-ranked stocks generating an average annual decline of 25% since 1988. Over the past 30 days, our consensus EPS forecast has remained stagnant. General Motors Company currently has a Zacks score of No. 2 (Buy).
With respect to valuation, General Motors Company is currently being traded at a Forward P/E ratio of 4.68. This denotes a discount relative to the industry’s average Forward P/E of 11.32.
It is also worth noting that GM currently has a PEG ratio of 0.59. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company’s projected earnings growth. The average PEG ratio for the Automotive – Domestic industry stood at 1.26 at the close of the market yesterday.
The Automotive – Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 76, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our various industry teams by calculating the average Zacks rating of the individual stocks that make up the teams. Our studies show that the top 50% of industries outperform the back end by a ratio of 2 to 1. .
Take advantage of Zacks. com to stay up-to-date with all those stock change metrics and more in the upcoming trading sessions.
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