Wall Street brokerages expect that General Electric (NYSE:GE) will report $26.10 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for General Electric’s earnings, with the highest sales estimate coming in at $26.38 billion and the lowest estimate coming in at $25.93 billion. General Electric reported sales of $33.28 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 21.6%. The firm is expected to announce its next quarterly earnings report on Thursday, January 30th.
On average, analysts expect that General Electric will report full-year sales of $94.18 billion for the current year, with estimates ranging from $93.79 billion to $94.45 billion. For the next fiscal year, analysts anticipate that the company will post sales of $92.56 billion, with estimates ranging from $89.46 billion to $94.86 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover General Electric.
General Electric (NYSE:GE) last announced its earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The company had revenue of $23.36 billion during the quarter, compared to analysts’ expectations of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. General Electric’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 earnings per share.
A number of equities research analysts have recently issued reports on GE shares. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating and set a $10.00 target price for the company in a research report on Friday, November 1st. Barclays reaffirmed a “buy” rating and issued a $12.00 price target on shares of General Electric in a research note on Friday, October 4th. Deutsche Bank boosted their price target on General Electric from $9.00 to $11.00 in a research note on Thursday, October 31st. Citigroup set a $14.00 price target on General Electric and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. set a $5.00 price target on General Electric and gave the company an “underweight” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.51.
Shares of General Electric stock traded up $0.06 during trading on Friday, reaching $11.50. The company’s stock had a trading volume of 44,567,541 shares, compared to its average volume of 72,653,906. The business’s 50-day moving average price is $9.70 and its 200-day moving average price is $9.68. The firm has a market cap of $100.44 billion, a PE ratio of 17.69, a P/E/G ratio of 2.80 and a beta of 1.13. General Electric has a 52 week low of $6.66 and a 52 week high of $11.75. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 2.67.
The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, September 16th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Friday, September 13th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
In related news, Director Leslie Seidman purchased 6,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $7.80 per share, with a total value of $50,700.00. Following the completion of the purchase, the director now directly owns 6,500 shares in the company, valued at $50,700. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.13% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of GE. Price T Rowe Associates Inc. MD raised its stake in General Electric by 26.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 365,565,828 shares of the conglomerate’s stock worth $3,838,441,000 after acquiring an additional 76,193,032 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in General Electric during the second quarter worth about $433,181,000. Renaissance Technologies LLC raised its stake in General Electric by 254.9% during the second quarter. Renaissance Technologies LLC now owns 53,270,354 shares of the conglomerate’s stock worth $559,339,000 after acquiring an additional 38,260,700 shares in the last quarter. BlackRock Inc. raised its stake in General Electric by 1.9% during the second quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock worth $5,383,800,000 after acquiring an additional 9,483,976 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in General Electric by 1.4% during the second quarter. Vanguard Group Inc. now owns 648,159,140 shares of the conglomerate’s stock worth $6,805,671,000 after acquiring an additional 8,989,832 shares in the last quarter. 58.34% of the stock is owned by hedge funds and other 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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