Stock Update: General Motors Company (NYSE:GM) – Uzbekistan investigates GM joint venture over Russian debt

[Reuters] – Authorities in Uzbekistan are investigating GM Uzbekistan, a venture part-owned by U.S. carmaker General Motors, over losses incurred by its Russian business, an executive at the Russian unit told Reuters on Tuesday. “The company (GM Uzbekistan) is being investigated because the Russian distributor was unable to repay its debt,” said Yelena Kuznetsova, director of marketing at the Russian representative office for Ravon, GM Uzbekistan’s brand aimed specifically at the Russian market. Kuznetsova said the Russian distributor had failed to pay GM Uzbekistan by the March deadline for cars shipped to Russia last year, because it had absorbed losses from the rouble’s sharp depreciation over the last two years and could no longer obtain credit from banks. Read more on this. General Motors Company (GM) , with a current market cap of $47.96B, started the session at $30.90. Today, shares have traded between $30.85 and $31.33 per share with a one year range of $24.62 to $36.88. GM shares are currently priced at 5.44x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 16.23x earnings multiple for the same period. And for passive income investors, the company pays shareholders $1.52 per share annually in dividends, yielding 4.91%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $1.51 per share, which would be $0.22 better than the year-ago quarter and a $0.06 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $5.69 would be a $0.67 improvement 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 $38.91 Billion. If realized, that would be a 1.91% increase over the year-ago quarter. Recently, Morgan Stanley upgraded GM from Underweight to Equal-Weight (May 6, 2016). Previously, Argus downgraded GM from Buy to Hold. With the above information in mind, readers should note that the average price target is $38.31, which is 23.98% above where the stock opened this morning. See more in (NYSE:GM) Similar Articles: Stock Update: General Motors Company (NYSE:GM) – General Motors reports higher February sales in Canada Company Update (NYSE:GM): Technical Analysis on Auto Manufacturers – Major Equities — Ford Motor, General Motors, Fiat Chrysler Automobiles, and Tesla Motors Stock Update: General Motors Company (NYSE:GM) – U.S. auto sales on pace for record year in 2015 after strong Dec