Automotive giant General Motors Co (NYSE:GM) looks to keep its recent history of beating analyst estimates when the company reports first-quarter financial results Tuesday before market open.
Here are the earnings estimates, analyst ratings and key items to watch.
• General Motors stock is trading near recent highs. Where are GM shares going?
General Motors Q1 Earnings Estimates
Analysts expect General Motors to report first-quarter revenue of $43.73 billion, down from $44.03 billion in last year's first quarter, according to data from Benzinga Pro.
The company missed analyst estimates for revenue in the fourth quarter, but has beaten estimates in nine of the past 10 quarters overall.
Analysts expect General Motors to report first-quarter earnings per share of $2.61, down from $2.78 year-over-year.
The company has beaten analyst estimates for earnings per share in 14 straight quarters.
General Motors Analyst Ratings and Price Targets
Here's a look at some of the latest analyst ratings on General Motors stock ahead of the quarterly results:
- Goldman Sachs: Maintained Buy rating, lowered price target from $104 to $91
- UBS: Maintained Buy rating, raised price target from $102 to $105
- Deutsche Bank: Upgraded from Hold to Buy rating, raised price target from $83 to $90
Key Items to Watch
General Motors comes into the latest report with a history of beating estimates.
This comes as the company has put less focus on electric vehicles and a bigger focus on profitable models.
The company reported first-quarter U.S. sales of 626,429 units, down 9.7% year-over-year. The quarter could see a focus on the highlights of some models outperforming and the international performance, with the weak U.S. performance.
Analysts and investors will likely be listening for details on the future of electric vehicles for the company.
The last quarter saw a dividend increase and a share buyback announcement, which may have boosted shares. A less optimistic quarter without the shareholder return announcements could see shares under further pressure this week.
General Motors Stock Price Action
General Motors stock is down 0.76% To $77.46 on Monday versus a 52-week trading range of $44.72 to $87.62. GM stock is down 4.6% year-to-date, but shares remain up around 64% over the past 52 weeks.
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