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General Motors Company (GM) Outpaces Stock Market Gains: What You Should Know
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General Motors Company (GM - Free Report) closed at $39.13 in the latest trading session, marking a +0.98% move from the prior day. This move outpaced the S&P 500's daily gain of 0.71%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 4.62%.
Heading into today, shares of the company had gained 2.08% over the past month, lagging the Auto-Tires-Trucks sector's gain of 22.6% and the S&P 500's gain of 2.65% in that time.
Wall Street will be looking for positivity from General Motors Company as it approaches its next earnings report date. This is expected to be July 25, 2023. On that day, General Motors Company is projected to report earnings of $1.66 per share, which would represent year-over-year growth of 45.61%. Meanwhile, our latest consensus estimate is calling for revenue of $42.46 billion, up 18.75% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.94 per share and revenue of $167.36 billion. These totals would mark changes of -8.56% and +6.78%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for General Motors Company. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.42% higher. General Motors Company is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note General Motors Company's current valuation metrics, including its Forward P/E ratio of 5.58. Its industry sports an average Forward P/E of 11.94, so we one might conclude that General Motors Company is trading at a discount comparatively.
Meanwhile, GM's PEG ratio is currently 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. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.35 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GM in the coming trading sessions, be sure to utilize Zacks.com.
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General Motors Company (GM) Outpaces Stock Market Gains: What You Should Know
General Motors Company (GM - Free Report) closed at $39.13 in the latest trading session, marking a +0.98% move from the prior day. This move outpaced the S&P 500's daily gain of 0.71%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 4.62%.
Heading into today, shares of the company had gained 2.08% over the past month, lagging the Auto-Tires-Trucks sector's gain of 22.6% and the S&P 500's gain of 2.65% in that time.
Wall Street will be looking for positivity from General Motors Company as it approaches its next earnings report date. This is expected to be July 25, 2023. On that day, General Motors Company is projected to report earnings of $1.66 per share, which would represent year-over-year growth of 45.61%. Meanwhile, our latest consensus estimate is calling for revenue of $42.46 billion, up 18.75% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.94 per share and revenue of $167.36 billion. These totals would mark changes of -8.56% and +6.78%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for General Motors Company. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.42% higher. General Motors Company is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note General Motors Company's current valuation metrics, including its Forward P/E ratio of 5.58. Its industry sports an average Forward P/E of 11.94, so we one might conclude that General Motors Company is trading at a discount comparatively.
Meanwhile, GM's PEG ratio is currently 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. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.35 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GM in the coming trading sessions, be sure to utilize Zacks.com.