![]() Jacobson said the number of workers taking the buyouts is about what GM expected. Last month GM offered buyouts to white-collar workers with at least five years of service, and global executives who have been with the company at least two years. “You’ve got a pretty quick payback,” Jacobson said. ![]() It also plans to cut spending across the company, including for travel and marketing, the statement said.Īt a Bank of America conference Tuesday, GM Chief Financial Officer Paul Jacobson said the company will take a $1 billion first-quarter charge because of the buyouts, but said it will save $1 billion per year as the workers leave later in in 2023. GM hopes to get the remaining $1 billion in savings by reducing vehicle complexity and expanding use of shared parts on internal combustion and electric vehicles. "The steps we are taking will allow us to maintain momentum, remain agile, and create a more competitive GM,” the company said in a prepared statement. They're also spending big to get scarce minerals and parts needed for EV batteries. To read this article on click here.The Detroit automaker and its competitors are making huge capital outlays to develop and build new electric vehicles, all while continuing to make cars, trucks and SUVs with gasoline engines. General Motors Company (GM) : Free Stock Analysis Report Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. To follow GM in the coming trading sessions, be sure to utilize. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% of all 250+ industries. The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.23 based on yesterday's closing prices. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. We can also see that GM currently has a PEG ratio of 0.45. Its industry sports an average Forward P/E of 10.37, so we one might conclude that General Motors Company is trading at a discount comparatively. In terms of valuation, General Motors Company is currently trading at a Forward P/E ratio of 4.42. ![]() General Motors Company is currently a Zacks Rank #2 (Buy). Over the past month, the Zacks Consensus EPS estimate has moved 0.01% higher. It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). This model considers these estimate changes and provides a simple, actionable rating system. Investors can capitalize on this by using the Zacks Rank. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. These revisions typically reflect the latest short-term business trends, which can change frequently. It is also important to note the recent changes to analyst estimates for General Motors Company. Our most recent consensus estimate is calling for quarterly revenue of $43.38 billion, up 3.55% from the year-ago period.įor the full year, our Zacks Consensus Estimates are projecting earnings of $7.60 per share and revenue of $171.23 billion, which would represent changes of +0.13% and +9.25%, respectively, from the prior year. On that day, General Motors Company is projected to report earnings of $1.90 per share, which would represent a year-over-year decline of 15.56%. Wall Street will be looking for positivity from General Motors Company as it approaches its next earnings report date. This has lagged the Auto-Tires-Trucks sector's loss of 3.25% and the S&P 500's gain of 1.02% in that time. Prior to today's trading, shares of the company had lost 9.57% over the past month. ![]() Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, lost 0.08%. This change lagged the S&P 500's 0.42% loss on the day. General Motors Company (GM) closed the most recent trading day at $33.28, moving -0.78% from the previous trading session.
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