We issued an updated research report on General Motors Company (GM - Free Report) on May 13.
In first-quarter 2019, the sale of 2019 Chevrolet Silverado and GMC Sierra light-duty crew cabs grew 20% year over year. This was in sync with the automaker’s strategy to launch high-content, high-margin trucks. These all-new crew cab models generated better transaction prices. Moreover, in order to capitalize on the rising demand for crossovers and trucks, the company revamped its lineup. It is launching all-new full-size pickups that will be followed by full-size SUVs.
General Motors reported adjusted earnings of $1.41 per share in first-quarter 2019, down 13.3% from the prior-year quarter. However, the bottom line surpassed the Zacks Consensus Estimate of $1.09. The company reported revenues of $34.9 billion, down 3.4% from the year-ago quarter. Further, revenues missed the Zacks Consensus Estimate of $35.8 billion.
Over the past seven days, the Zacks Consensus Estimate for current-quarter earnings has remained unchanged at $1.47.
In the past six months, shares of General Motors have outperformed the industry it belongs to. Over this time frame, the stock has gained 2.9% against the industry’s decline of 4.7%.
General Motors currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. (ALSN - Free Report) , Fox Factory Holding Corp. (FOXF - Free Report) and PACCAR Inc. (PCAR - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Allison Transmission has an expected long-term growth rate of 10%. Over the past year, shares of the company have gained 2.8%.
Fox Factory has an expected long-term growth rate of 16.4%. Over the past three months, shares of the company have gained 16.3%.
PACCAR has an expected long-term growth rate of 6.4%. Share price of the company has increased 11.7% in the past six months.
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