A Sterne Agee analyst downgraded his earnings anticipated for General Motors Company (NYSE:GM), quoting lower North American vehicle production during the Q1.
Michael Ward, who reserved his “Buy” rating on the stock, declared GM’s Q1 production dropped 6% in North America, and production of its most profitable vehicles huge SUVs plunged 35%.
Ward cut his 2013 earnings anticipations by 20 cents to $3.40 a share and cut his 2014 anticipate by 15 cents to $4.50 a share.
On average analysts anticipate 2013 profit of $3.32 a share and $4.33 per share in 2014.
Ward declared the firm ‘s overall future looks bright, pointing to the Detroit automaker’s strong balance sheets, anticipations of near-record operations results this year and next, beside with its leading market position in China.
Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes Ford Motor Company (NYSE:F) lost -1.49%, Tesla Motors Inc(NASDAQ:TSLA) edged up Y%, Tata Motors Limited (ADR) (NYSE:TTM) which also decreased -3.17% and General Motors Company (NYSE:GM) closed down -0.38%.
General Motors Company (NYSE:GM) stock’s trade at beginning with a price of $29.03 and throughout the trading session climbed at a high of $29.33 other than when day-trade ended the stock finally declined -0.68% to $29.27.
The stock is going forward its 52 week low with +56.36% and lagging behind from its 52 week high price with -4.60%. GM last month stock price volatility remained 1.98%.
GM stock institutional ownership remained 43.74% while insider ownership included 0.07%. In its share capital GM has 1.37 billion outstanding shares among them 534.22 million shares have been floated in market exchange.
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