Analysts expect General Electric (NYSE:GE) to post earnings of $0.13 per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for General Electric’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.16. General Electric reported earnings of $0.14 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 7.1%. The business is scheduled to announce its next quarterly earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that General Electric will report full-year earnings of $0.64 per share for the current financial year, with EPS estimates ranging from $0.61 to $0.66. For the next financial year, analysts expect that the firm will post earnings of $0.74 per share, with EPS estimates ranging from $0.60 to $0.84. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover General Electric.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The business had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.83 billion. During the same quarter in the prior year, the business earned $0.19 EPS. General Electric’s quarterly revenue was down 1.1% on a year-over-year basis.
A number of research analysts recently commented on the stock. ValuEngine lowered shares of General Electric from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research lowered shares of General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research note on Friday, August 2nd. Cowen reiterated a “hold” rating and issued a $8.00 price target on shares of General Electric in a research note on Wednesday, May 1st. William Blair reiterated a “buy” rating on shares of General Electric in a research note on Friday, August 16th. Finally, Deutsche Bank set a $10.00 target price on shares of General Electric and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and a consensus target price of $11.68.
GE traded up $0.03 on Thursday, reaching $8.19. The company had a trading volume of 65,735,189 shares, compared to its average volume of 78,936,758. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $13.78. The stock has a market cap of $75.66 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.87 and a beta of 1.03. The company’s fifty day moving average is $9.81 and its 200 day moving average is $9.92. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.44 and a current ratio of 1.73.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were given a dividend of $0.01 per share. The ex-dividend date was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.49%. General Electric’s payout ratio is presently 6.15%.
In other General Electric news, Chairman H Lawrence Culp, Jr. bought 252,200 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $7.93 per share, for a total transaction of $1,999,946.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas W. Horton bought 55,248 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $9.02 per share, for a total transaction of $498,336.96. Following the transaction, the director now owns 55,248 shares in the company, valued at $498,336.96. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 794,568 shares of company stock worth $6,904,045. Company insiders own 1.13% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Resource Management LLC lifted its holdings in shares of General Electric by 22.4% during the 2nd quarter. Resource Management LLC now owns 76,386 shares of the conglomerate’s stock worth $802,000 after acquiring an additional 13,977 shares during the period. Bellecapital International Ltd. lifted its stake in General Electric by 166.4% in the 2nd quarter. Bellecapital International Ltd. now owns 48,990 shares of the conglomerate’s stock valued at $514,000 after purchasing an additional 30,600 shares during the last quarter. Cornell Pochily Investment Advisors Inc. lifted its stake in General Electric by 114.2% in the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 32,487 shares of the conglomerate’s stock valued at $246,000 after purchasing an additional 17,317 shares during the last quarter. Carroll Financial Associates Inc. lifted its stake in General Electric by 13.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 117,920 shares of the conglomerate’s stock valued at $1,238,000 after purchasing an additional 14,033 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in General Electric by 6.3% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 1,474,509 shares of the conglomerate’s stock valued at $9,764,000 after purchasing an additional 88,000 shares during the last quarter. 58.85% of the stock is owned by institutional investors.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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