Company Update (NYSE:AIG): AIG Commences Cash Tender Offer for Debt Securities

[ Business Wire] – American International Group, Inc. today commenced a cash tender offer for 11 series of debt securities of AIG and its subsidiaries. The complete terms of the tender offer are set forth in the offer to purchase and the related letter of transmittal, each dated today. Read more on this. American International Group, Inc. (AIG) , with a current market cap of $61.08B, started the session at $52.01. Looking at the equity, the company’s one day range is $51.13 to $52.07 and has traded between $50.38 and $64.93 over the past year. AIG (AIG) shares are currently priced at 10.59x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 12.50x earnings multiple for the same period. The company pays shareholders $1.28 per share annually in dividends, yielding 2.48%. Consensus earnings for the current quarter by the 20 sell-side analysts covering the stock is an estimate of $1.12 per share, which would be $0.10 worse than the year-ago quarter and a $0.10 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $4.92, which would be a $2.73 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $13.89 Billion. If reported, that would be a 4.80% decrease over the year-ago quarter. Recently, Standpoint Research upgraded AIG from Hold to Buy (Jan 19, 2016). Previously, Standpoint Research downgraded AIG from Buy to Hold. When considering if the stock is under or overvalued, the average price target is $64.22, which is 23.48% above where the stock opened this morning. See more in (NYSE:AIG) Similar Articles: Company Update (NYSE:AIG): AIG Announces Expansion of Board of Directors and Nominates Two New Directors Stock Update (NYSE:EQR): Equity Residential Announces Cash Tender Offers and Consent Solicitations for Certain Outstanding Debt Securities Company Update: American International Group Inc (NYSE:AIG) – A.M. Best Withdraws Ratings of The Fuji Fire & Marine Insurance Company, Limited and AIU Insurance Company, Ltd.