Market Update (NYSE:GM): GM recalls 1,750 midsize pickup trucks, sedans on air bag concerns

[Reuters] – General Motors Co said on Wednesday it has issued a stop-sales order and recalled about 1,750 new-model Chevrolet Colorado and GMC Canyon pickup trucks and Chevrolet Malibu sedans in the United States and Canada because of potentially defective front air bags. Some of the 2016 models will also be recalled in Mexico, but GM did not immediately say how many. There have been no reported injuries related to the air bags placed in the steering wheel of the vehicles. Read more on this. General Motors Company (GM) , with a current market cap of $46.88B, opened this morning at $30.50. Looking at today’s market, GM one day range is $30.20 to $30.63 and has traded between $24.62 and $38.99 over the past 12 months. General Motors (GM) shares are currently priced at 5.60x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 13.21x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.52 per share annually in dividends, yielding 4.85%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $1.01 per share, which would be $0.15 better than the year-ago quarter and a $0.09 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $5.48 would be a $0.46 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 $35.75 Billion. If realized, that would be a 0.11% increase over the year-ago quarter. In terms of ratings, Argus downgraded GM from Buy to Hold (Feb 29, 2016). Previously, Credit Suisse upgraded GM from Neutral to Outperform. Investors should keep in mind is that the average price target is $37.76, which is 23.80% above where the stock opened this morning. See more in (NYSE:GM) Similar Articles: Market Update (NYSE:GM): General Motors to resume operations in Egypt Market Update (NYSE:GM): GM Reports Third Consecutive Year of Record Global Sales Market Update (NYSE:GM): Why General Motors invested in Lyft