Stock Update: General Motors Company (NYSE:GM) – U.S. transportation chief pledges hard look at GM recall

General Motors Company (NYSE:GM) [Reuters] – U.S. Transportation Secretary Anthony Foxx on Thursday promised an “aggressive investigation” into whether General Motors was slow to report to the federal government problems with ignition switches in its autos, which have led to 12 deaths. “The questions we are asking are whether there was a timeliness issue with GM’s bringing to our attention the issues regarding this ignition switch,” Foxx told a Senate panel. GM is recalling 1.6 million of its vehicles following problems with ignition switches that unexpectedly turn off during operation, sometimes at high speeds. Foxx said if there are delays in industry reporting problems to the National Highway Traffic Safety Administration, the Transportation Department will respond in a “very, very tough” manner.
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General Motors Company (GM), with a current value of $54.20B, started trading this morning at $35.04.
Looking at the stock, its one day range is $33.87 to $35.16 with its 52-week range being $27.11 to $41.85.
GM shares are currently priced at 9.43x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.59x earnings multiple for the same period.
And for dividend hunters, the company pays shareholders $1.20 per share annually in dividends, yielding 3.20%.
In a review of the consensus earnings estimate this quarter, 14 sell-side analysts are looking at $0.51 per share, which would be $0.16 worse than the year-ago quarter and a $0.53 sequential decrease. Investors should also note that the full-year EPS estimate of $3.73 is a $0.55 improvement when compared to the previous year’s annual results.
The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $38.07 Billion. If realized, that would be a 3.23% increase over the year-ago quarter.
More recently, Standpoint Research downgraded GM from Accumulate to Hold (Jan 8, 2013). Previously, Standpoint Research Initiated GM at to Accumulate.
The average price target for GM shares by the analysts covering the stock is $46.67, which is 33.19% above where the stock opened this morning.
Summary (NYSE:GM) :  General Motors Company (GM) designs, manufactures, and markets cars, crossovers, trucks, and automobile parts worldwide. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, as well as under the Alpheon, Jiefang, Baojun, and Wuling brand names. It also sells cars and trucks to dealers for consumer retail sales, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. In addition, the company offers connected safety, security and mobility solutions, and information technology services. The company, through its subsidiary, General Motors Financial Company, Inc. provides automotive financing services and lease products through GM dealerships in connection with the sale of used and new automobiles that target customers with sub-prime and prime credit bureau scores. The company was founded in 1908 and is based in Detroit, Michigan.
Tag Helper ~ Stock Code: GM | Common Company name: General Motors | Full Company name: General Motors Company (NYSE:GM) .

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