Company Update (NYSE:GM): General Motors Offers Senior Unsecured Notes

[PR Newswire] – DETROIT, Feb. 18, 2016 /PRNewswire/ — General Motors Co. (GM) announced today it has launched an offering of senior unsecured notes in 20- and 30-year tenors. GM intends to use the net proceeds from the sale of the notes to make a discretionary contribution to its U.S. hourly pension plan and, in the event GM does not use all of the net proceeds for this contribution, for general corporate uses. GM has filed a registration statement, including a prospectus and preliminary prospectus supplement, with the SEC for the offering to which this communication relates. Read more on this. General Motors Company (GM) , with a current value of $44.96B, opened at $29.45. Shares have traded today between $29.02 and $29.55 per share with a one year range of $24.62 to $38.99. General Motors (GM) shares are currently priced at 5.35x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 10.07x earnings multiple for the same period. And for passive income investors, the company pays shareholders $1.52 per share annually in dividends, yielding 5.49%. In a review of the consensus earnings estimate this quarter, 13 sell-side analysts are looking at $1.03 per share, which would be $0.17 better than the year-ago quarter and a $0.07 sequential decrease. Investors should also note that the full-year EPS estimate of $5.47 is a $0.45 better 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. Recently, Credit Suisse upgraded GM from Neutral to Outperform (Jan 11, 2016). Previously, Credit Suisse upgraded GM from Underperform to Neutral. Given all the information above, we should disclose to readers that the average price target is $39.00, which is 32.43% above than it opened this morning. See more in (NYSE:GM) Similar Articles: Market Update: General Motors Company (NYSE:GM) – GM says recalling Saab, Saturn brand vehicles with Takata parts Company Update (NYSE:GM): Technical Analysis on Auto Manufacturers – Major Equities — Ford Motor, General Motors, Fiat Chrysler Automobiles, and Tesla Motors Company Update: General Motors Company (NYSE:GM) – GM to recall 31,685 SUVs in North America