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General Motors Company (GM) Beats Stock Market Upswing: What Investors Need to Know
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General Motors Company (GM - Free Report) 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%.
Shares of the company have appreciated by 6.64% over the course of the past month, outperforming the Auto-Tires-Trucks sector's gain of 0.15% and the S&P 500's gain of 2.9%.
Analysts and investors alike will be keeping a close eye on the performance of General Motors Company in its upcoming earnings disclosure. The company's earnings report is set to go public on January 30, 2024. On that day, General Motors Company is projected to report earnings of $1.06 per share, which would represent a year-over-year decline of 50%. At the same time, our most recent consensus estimate is projecting a revenue of $39.69 billion, reflecting a 7.94% fall from the equivalent quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for General Motors Company. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, General Motors Company possesses a Zacks Rank of #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 evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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General Motors Company (GM) Beats Stock Market Upswing: What Investors Need to Know
General Motors Company (GM - Free Report) 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%.
Shares of the company have appreciated by 6.64% over the course of the past month, outperforming the Auto-Tires-Trucks sector's gain of 0.15% and the S&P 500's gain of 2.9%.
Analysts and investors alike will be keeping a close eye on the performance of General Motors Company in its upcoming earnings disclosure. The company's earnings report is set to go public on January 30, 2024. On that day, General Motors Company is projected to report earnings of $1.06 per share, which would represent a year-over-year decline of 50%. At the same time, our most recent consensus estimate is projecting a revenue of $39.69 billion, reflecting a 7.94% fall from the equivalent quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for General Motors Company. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, General Motors Company possesses a Zacks Rank of #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 evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.