General Motors Company (NYSE:GM) Strong Earnings Give Wall Street a Lift

General Motors NYSE:GM

General Motors Company, (NYSE:GM) right before the market opened on Wednesday, October 21, showed off its earnings numbers for the three months through September. Earnings for the quarter came in at $1.50 per share. The firm showed sales totaling $38.8B for the three months.

In the run up to the release of today’s results, analysts following the firm were looking for earnings per share of $1.18 per share from General Motors Company for the quarter. Sales for the period were forecast to come in at $38.55B by consensus.

General Motors NYSE:GM

General Motors Company results by comparison

The same three months of 2014 saw General Motors Company earn $0.82 per share on sales that came to $39.26B. In the last twelve months shares in the firm have gained 15.00% of their value. In the three months leading into the release of these results the firm gained 14.30% of their value.

General Motors Company (General Motors) qm q=”GM” m=”NYSE” c=”General Motors”] designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc. (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA). The Company also sells cars and trucks to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies and governments.

General Motors Company is expected to make a profit of $4.49 per share for the twelve months of its current fiscal year. Full sales for the year are forecast to come in at $151.25B.

In the last full fiscal year General Motors Company (NYSE:GM) made $3.05 per share. Sales came in at $155.93B.

Of the 20 analysts covering the firm for Wall Street, 6 analysts said that clients should Buy shares in the firm, 4 analysts rated the shares at Overweight, while 9 analysts said that holding the shares was the best option going forward.

1 analyst said that clients should keep the shares Underweight in their portfolios, while none of the analyst said that their best idea was to Sell the shares ahead of the release of this earnings report.

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Victor Alagbe is a seasoned business and finance writer with a specialty in writing about how to invest for the long-term in healthcare, pharmacology, energy and tech stocks. His long-term focus is on stocks that provide a nice mix of growth and income. For the short term, he passionately writes about trading stock options for the excitement and leverage that stock options offer.

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