Company Update: General Motors Company (NYSE:GM) – First GM ignition switch lawsuit is dismissed

[Reuters] – The first federal trial over General Motors Co’s massive ignition switch recall came to an early end on Friday as the parties said the case had been dismissed, in the wake of allegations that the plaintiff had given misleading testimony. According to a filing in Manhattan federal court, the plaintiff Robert Scheuer agreed to voluntarily dismiss his claims against the automaker with prejudice, meaning they cannot be refiled. Scheuer agreed to take no payment from GM for his claims. Read more on this. General Motors Company (GM) , with a current market cap of $45.17B, began trading this morning at $30.20. Looking at today’s trading action, the company’s one day range from $29.03 to $30.29 with its 52-week range being $24.62 to $38.99. Priced at 6.13x this year’s forecasted earnings, GM shares are relatively inexpensive compared to the industry ’s 17.18x forward p/e ratio. And for dividend hunters, the company pays shareholders $1.44 per share annually in dividends, yielding 4.90%. According to a consensus of 15 analysts, the earnings estimate of $1.20 per share would be $0.01 better than the year-ago quarter and a $0.04 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $4.82, which would be a $1.77 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $37.87 Billion. If realized, that would be a 4.42% decrease over the year-ago quarter. More recently, Credit Suisse upgraded GM from Neutral to Outperform (Jan 11, 2016). Previously, Credit Suisse upgraded GM from Underperform to Neutral. When considering if the stock is under or overvalued, the average price target is $41.25, which is 36.59% above where the stock opened this morning. See more in (NYSE:GM) Similar Articles: Market Update (NYSE:GM): Ex-GM engineer acknowledges ‘mistakes’ made over ignition switch Company Update: General Motors Company (NYSE:GM) – GM, law firm can keep ignition switch documents secret: U.S. judge Company Update (NYSE:GM): Potts Law Firm Files 90 New GM Ignition Switch Claims in St. Louis