Is General Motors (GM) Cheap?

With the stain of a taxpayer bailout still tarnishing General Motors (NYSE:GM), which has resulted in the company being identified by many as Government Motors, they haven't been in favor much overall by the general public, or investors.

Since its recent IPO the company has fallen below its $33 opening price.

The full year estimates of $4.02 a share in 2011 and $5.05 a share for 2012 are becoming more dubious as well, and that has been enhanced by the uncertainty surrounding part supplies coming from Japan, which could shut down more production at the company.

Also of concern is the skyrocketing price of oil, which will have a negative impact on the overall auto industry, including GM.

But if you believe the estimates on the company, the stock would be considered cheap, and with a long term outlook, that could make investors some money.

It will probably take time though to make an informed decision, as the fallout from Japan has to be understood and factored in before that can happen.

General Motors closed Thursday at $31.39, gaining $0.23, or 0.74 percent.