Wall Street analysts expect General Electric (NYSE:GE) to report sales of $27.50 billion for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for General Electric’s earnings. The highest sales estimate is $28.95 billion and the lowest is $26.17 billion. General Electric posted sales of $27.66 billion during the same quarter last year, which would indicate a negative year over year growth rate of 0.6%. The firm is expected to announce its next earnings report on Friday, April 20th.
According to Zacks, analysts expect that General Electric will report full year sales of $27.50 billion for the current year, with estimates ranging from $114.77 billion to $127.04 billion. For the next financial year, analysts forecast that the business will report sales of $124.69 billion per share, with estimates ranging from $116.14 billion to $130.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover General Electric.
General Electric (NYSE:GE) last released its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $33.93 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS.
A number of research firms have recently commented on GE. UBS Group set a $16.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research note on Wednesday. Royal Bank of Canada restated a “hold” rating and set a $16.00 price target on shares of General Electric in a research report on Tuesday, February 27th. Citigroup set a $23.00 price target on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric in a research report on Monday, February 26th. Finally, Cowen restated a “market perform” rating and set a $15.00 price target (down from $17.00) on shares of General Electric in a research report on Monday, February 26th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.44.
In other news, insider Alexander Dimitrief bought 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of General Electric by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after acquiring an additional 3,297,890 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of General Electric by 1.5% in the 4th quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock worth $9,278,731,000 after acquiring an additional 7,675,642 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of General Electric by 64.6% in the 4th quarter. Franklin Resources Inc. now owns 184,682,929 shares of the conglomerate’s stock worth $3,222,649,000 after acquiring an additional 72,489,551 shares during the last quarter. Capital World Investors lifted its holdings in shares of General Electric by 8.6% in the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after acquiring an additional 11,194,678 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after acquiring an additional 14,316,281 shares during the last quarter. Institutional investors own 55.54% of the company’s stock.
Shares of General Electric (NYSE GE) opened at $14.94 on Friday. The company has a market cap of $129,720.00, a PE ratio of -49.80, a PEG ratio of 2.83 and a beta of 1.00. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87. General Electric has a one year low of $13.95 and a one year high of $30.54.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.21%. General Electric’s payout ratio is -160.00%.
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About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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