General Motors Company (NYSE:GM) slips after-hours Monday after issuing a fresh batch of recalls affecting about 3.3 million vehicles sold in the United States. 

The bulk of the recalls involve faulty ignition keys in about 3.16 million cars, model years 2000 through 2014 and includes the Buick, Cadillac, and Chevrolet brands. At the same time, the company said it is recalling 165,770 cars for a variety of repairs that need to be carried out. GM said it now expects to take a charge of up to about $700 million in Q2 related to the recalls. That’s up from the $400 million it previously stated.  GM was down 0.3% in late trade yesterday after a 1.2% regular-session gain. It’s off 12% in 2014.

General Motors Company (NYSE:GM) opened trading yesterday as $35.63 and traded in the range of 35.49-36.19. The company and saw over $12.6 million shares change hands. The average trading volume of the stock is $18 million. GM’s current valuation stands at $57.83 billion.

GM is currently covered by 15 Wall Street analysts. The mean target price is $43.73 according to First Call. This presents a decent upside to the current price of the equity. The Mean Recommendation sits at 2.1 which is based on 5 Strong Buy, 7 Buy, 3 Hold, 2 Underperform ratings. The most recent analyst actions consisted of Standpoint upgrading the stock from a Hold to a Buy.

The current quarter EPS consensus estimate is .93 with revenue estimates of 40.63B. Sales are expected to grow at a 4% rate. GM reported actual earnings last quarter of 0.84 which easily beat the 075 consensus estimate, a 4.00% surprise.

 

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