Stock Update: General Motors Company (NYSE:GM) – U.S. auto sales on pace for record year in 2015 after strong Dec

[Reuters] – Automakers on Tuesday reported strong U.S. sales in December, indicating that 2015 would smash records, and most forecasters said the new year will be even better. For full year 2015, General Motors Co said industry sales will top the previous record of 17.35 million vehicles in 2000 as low gasoline prices, easy credit and moderate economic growth boosted the industry. GM said December sales will end at 17.8 million vehicles on a seasonally adjusted annualized basis. Read more on this. General Motors Company (GM) , with a current value of $50.42B, opened this morning at $33.33. During today’s session, GM traded between $32.18 to $33.41 with a one year range of $24.62 to $38.99. GM shares are currently priced at 6.94x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.29x earnings multiple. And for passive income investors, the company pays shareholders $1.44 per share annually in dividends, yielding 4.23%. In a review of the consensus earnings estimate this quarter, 15 sell-side analysts are looking at $1.18 per share, which would be $0.01 worse than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $4.80, which would be a $1.75 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $38.00 Billion. If realized, that would be a 4.09% decrease over the year-ago quarter. In terms of ratings, Credit Suisse upgraded GM from Underperform to Neutral (Jul 24, 2015). Previously, Goldman downgraded GM from Buy to Neutral. With the above information in mind, readers should note that the average price target is $41.88, which is 25.65% above where the stock opened this morning. See more in (NYSE:GM) Similar Articles: Stock Update (NYSE:GM): UPDATE 6-U.S. auto industry headed for record sales in 2015 -GM Stock Update (NYSE:GM): U.S. auto industry headed for record sales in 2015 -GM Stock Update: General Motors Company (NYSE:GM) – GM to spend $1.4 billion to modernize Arlington SUV factory