General Motors stock reaches new highs with $6 billion buyback, increased dividend, and strong profits

From Nasdaq: 2024-06-11 14:25:00

General Motors GM stock hits fresh 52-week highs with $6 billion stock buyback announcement, following $10 billion ASR program and 33% dividend increase. Stock up 34% YTD, outperforming Ford and Tesla. GM’s profits rise on diverse vehicle lineup, with EPS expected to jump 22% for fiscal 2024. Stock trading at 5X forward earnings, well below industry average. General Motors reinstates dividend, increases payout to 12 cents per quarter, nearing S&P 500 average. Potential buying opportunity with GM stock at Zacks Rank #3, offering upside with increased profitability and cheap valuation. News on stocks for both Democrats and Republicans: Medical manufacturer, rental company, energy powerhouse, aerospace and defense standout, giant chipmaker. [Source: Zacks Investment Research]



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