Stock Update (NYSE:GM): GM to release findings of internal probe of bad switch Thursday

General Motors Company (NYSE:GM) [Reuters] – General Motors Co will hold a news conference on Thursday at which it is expected to release the findings of the company’s internal probe into why it took so long to discover a defective ignition switch linked to at least 13 deaths. GM has scheduled a company town hall for Chief Executive Mary Barra, followed by a news conference and a call with analysts to provide an update on the faulty switch, which resulted in the recall of 2.6 million cars. A GM spokesman declined to comment on the details of the event. But the No. 1 U.S. automaker is expected to release the findings of the internal probe it conducted to determine why a recall was not sought earlier for a problem first discovered by engineers in 2001.
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General Motors Company (GM), with a current value of $59.08B, began trading this morning at $35.50.
 
Today, shares have traded between $35.35 and $36.88 per share with the price of the stock fluctuating between $31.13 to $41.85 over the last 52 weeks.
 
General Motors (GM) shares are currently priced at 11.19x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.32x earnings multiple for the same period.
 
The company pays shareholders $1.20 per share annually in dividends, yielding 3.50%.
 
Consensus earnings for the current quarter by the 15 sell-side analysts covering the stock is an estimate of $0.95 per share, which would be $0.11 better than the year-ago quarter and a $0.17 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.15 would be a $0.03 setback 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 $40.63 Billion. If realized, that would be a 3.97% increase over the year-ago quarter.
 
More recently, Standpoint Research upgraded GM from Hold to Buy (Apr 7, 2014). Previously, Standpoint Research downgraded GM from Accumulate to Hold.
 
When considering if the stock is under or overvalued, the average price target is $43.73, which is 23.18% 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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