General Motors Co. (NYSE: GM) is scheduled to report its fourth-quarter financial results before the markets open on Wednesday. The consensus estimates from Thomson Reuters are calling for $1.22 in earnings per share (EPS) and $36.48 billion in revenue. In the same period of last year, GM said it had $1.65 in EPS and $37.72 billion in revenue.
Despite a declining car market in 2019, GM expects the overall U.S. market to remain strong, projecting total industry sales above 17 million. The company expects to benefit from a full year of volume from GM’s all-new Chevrolet Silverado and GMC Sierra light-duty, full-size pickups. The trucks have contributed to retail market share growth in the light-duty pickup segment every month since August, with average transaction prices that have surpassed those of key competitors.
As for electric vehicles (EVs), Cadillac will be GM’s lead EV brand and will introduce the first model from the company’s all-new battery EV architecture, GM’s foundation for an advanced family of profitable EVs.
GM also expects to start launching its all-new global family of vehicles in 2019 in China, followed by South America and Mexico. The first crossover model will be the Chevrolet Tracker. These vehicles are expected to capture growth in key global markets and represent one-in-10 GM vehicles sold globally by 2020.
Overall, General Motors has outperformed the broad markets, with its stock up about 16% year to date. However, in the past 52 weeks the stock is down 8%.
Ahead of the earnings report, a few analysts weighed in on GM:
- Goldman Sachs has a Hold rating and a $38 price target.
- RBC has an Outperform rating with a $50 price target.
- Barclays has a Buy rating with a $49 price target.
- BMO Capital Markets has a Buy rating with a $49 price target.
- Buckingham Research has a Hold rating with a $34 target.
- Deutsche Bank has a Buy rating.
Shares of GM were last seen at $38.92, in a 52-week range of $30.56 to $45.00. The consensus analyst price target is $45.45.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
