Breaking News: Some Traders Think General Motors Company (GM) Will See A Decline

General Motors Company (GM), a Auto Manufacturers business, was a gaining stock in the prior session. General Motors Company (GM) stock started the day for trading at $22.99 and closed the day at $22.56 with declining move of -1.05%. The decrease change in General Motors Company (GM) beat the change in the NASDAQ, a tech heavy index, for the day which lossed -1.89% in prior session.

General Motors Company (GM) is focused on the Auto Manufacturers sector. This stock market sector has seen some action from day traders in recent months. Bullish day traders of General Motors Company (GM) will be looking for positive upcoming earnings whereas bearish day traders of General Motors Company (GM) will be looking for negative earnings. The last time General Motors Company (GM) had an earnings surprise was on Qtr Ending 03/20 when they reported $0.62 compared to an estimate of $0.18 which was a difference of $+0.44 resulting in a change of +244.44%. Current earnings estimates are to be released for Current Qtr 06/2020 on General Motors Company (GM) and out of 2 Wall Street estimates the average is saying -$1.33. The high estimate is saying -$1.32 whereas the low estimate is saying -$1.33 and the prior year General Motors Company (GM) announced earnings at $1.64 a growth rate est. (year over year) of -181.10%.

The market performance of General Motors Company (GM) has varied recently. Year to date General Motors Company (GM)’s shares are down -37.71%. Over the past 12 weeks General Motors Company (GM) is down -34.41% and over the last 4 weeks General Motors Company (GM) is down -0.91%. General Motors Company (GM) current income statement shows revenue (ttm) of $135.07B. Gross Profit is $14.14B. This puts the current EBITDA of General Motors Company (GM) at $11.97B.

Wall street day traders might also notice recent changes to stock analyst estimates for General Motors Company (GM). The stock is trading with an RSI (relative strength index) of 50.57 indicating General Motors Company (GM) is neither overbought nor oversold. Technically, GM’s short term support levels are around $14.51, $13.98 and $13.01 on the downside. GMs short term resistance levels are $23.50, $22.70 and $22.24 on the upside. The market cap of General Motors Company (GM) is $32.285B and institutions hold 78.03% of the stock. The outstanding share count stands at 1.34B while the short float (shares short) stands at 1.74%.

Market research indicates that these earning estimate changes look to be directly correlated with short-term stock prices. The day traders can look to capitalize on the basis of ranking. Based on technical analysis, GM has short term rating of Bullish (0.36), Intermediate rating of Neutral (0.04) and the long-term rating of Bearish (-0.25) giving it an overall rating of Neutral (0.05).

The EPS growth this year on General Motors Company (GM) is decreased -15.90% and is expected to increase 254.90% next year. However, quarterly earnings (EPS) growth year over year on General Motors Company (GM) has decreased by -88.40% and quarterly revenue (Sales) growth year over year stands at -6.20%. Gross margin is detected at 9.80% that represents the percent of total sales revenue that the company retains after direct cost of goods sold. Net profit margin (ttm) is 3.50% while return on equity (ttm) is 11.10%.

Recent Developments:

2020-05-07 – General Motors Prices $4.0 Billion Of Senior Unsecured Notes.
2020-05-07 – General Motors Offers Senior Unsecured Notes.
2020-05-06 – General Motors Co – Expects Covid-19 Will Materially Impact Results Of Operations During Remainder Of 2020.
2020-05-06 – General Motors Targeting To Restart Majority Of Manufacturing Operations On May 18 In U.S. And Canada.
2020-05-06 – General Motors Reports Q1 EPS Of $0.17.

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