Market Update: General Motors Company (NYSE:GM) – GM settles ignition-switch case before third trial

[Reuters] – General Motors Co on Thursday said it had agreed to settle a lawsuit that would have been the third case to go to trial over a faulty ignition switch linked to nearly 400 injuries and deaths. In a letter filed in federal court in Manhattan, GM’s lawyers said the automaker had entered into a confidential settlement with Nadia Yingling, whose lawsuit over her husband’s 2013 death following a car crash was set to go to trial May 2. It was unclear why GM decided to settle the case. Read more on this. General Motors Company (GM) , currently valued at $45.54B, started trading this morning at $29.85. Shares have traded today between $29.18 and $29.95 per share with its 52-week range being $24.62 to $37.45. GM shares are currently priced at 5.46x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.37x earnings multiple for the same period. The company pays shareholders $1.52 per share in dividend income per year, for a current yield of 5.08%. According to a consensus of 16 analysts, the earnings estimate of $1.01 per share would be $0.15 better than the year-ago quarter and a $0.10 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $5.48, which would be a $0.46 better when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $35.75 Billion. If reported, that would be a 0.11% increase over the year-ago quarter. More recently, 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 26.50% above where the stock opened this morning. See more in (NYSE:GM) Similar Articles: Stock Update: General Motors Company (NYSE:GM) – Missouri Supreme Court Affirms City of St. Louis Venue for GM Ignition Switch Cases Company Update: General Motors Company (NYSE:GM) – First GM ignition switch lawsuit is dismissed Company Update: General Motors Company (NYSE:GM) – GM, law firm can keep ignition switch documents secret: U.S. judge