Zacks: Analysts Expect General Electric (NYSE:GE) Will Post Earnings of $0.82 Per Share

Wall Street analysts expect General Electric (NYSE:GE) to post $0.82 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for General Electric’s earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.91. General Electric reported earnings per share of $0.64 during the same quarter last year, which suggests a positive year over year growth rate of 28.1%. The firm is scheduled to report its next earnings report on Tuesday, January 25th.

According to Zacks, analysts expect that General Electric will report full-year earnings of $2.01 per share for the current fiscal year, with EPS estimates ranging from $1.94 to $2.10. For the next financial year, analysts anticipate that the business will post earnings of $4.06 per share, with EPS estimates ranging from $3.85 to $4.30. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for General Electric.

General Electric (NYSE:GE) last announced its quarterly earnings data on Monday, October 25th. The conglomerate reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. The company had revenue of $18.43 billion during the quarter, compared to analyst estimates of $19.17 billion. General Electric had a negative net margin of 0.05% and a positive return on equity of 5.88%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS.

A number of brokerages have weighed in on GE. Morgan Stanley began coverage on shares of General Electric in a research note on Tuesday. They set an “overweight” rating and a $125.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded shares of General Electric from a “hold” rating to a “buy” rating and boosted their target price for the company from $119.00 to $131.00 in a research note on Tuesday, November 9th. Citigroup reissued a “buy” rating and set a $136.00 price objective on shares of General Electric in a research report on Wednesday, August 11th. UBS Group boosted their price objective on shares of General Electric from $136.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, November 10th. Finally, TheStreet raised shares of General Electric from a “d+” rating to a “c” rating in a research report on Wednesday, October 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, General Electric presently has a consensus rating of “Buy” and an average price target of $122.18.

In other General Electric news, Director Leslie Seidman bought 1,000 shares of the firm’s stock in a transaction dated Monday, November 22nd. The shares were purchased at an average cost of $100.59 per share, for a total transaction of $100,590.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders acquired 2,051 shares of company stock worth $210,673. Corporate insiders own 0.71% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in General Electric by 6.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 812,250,073 shares of the conglomerate’s stock worth $10,932,886,000 after purchasing an additional 51,786,710 shares during the period. Amundi purchased a new stake in General Electric in the 2nd quarter worth about $112,508,000. Neuberger Berman Group LLC raised its position in General Electric by 78.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 16,194,252 shares of the conglomerate’s stock worth $217,979,000 after purchasing an additional 7,119,217 shares during the period. Canada Pension Plan Investment Board raised its position in General Electric by 121.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,845,754 shares of the conglomerate’s stock worth $119,064,000 after purchasing an additional 4,855,000 shares during the period. Finally, Ceredex Value Advisors LLC raised its position in General Electric by 157.5% in the 2nd quarter. Ceredex Value Advisors LLC now owns 7,639,238 shares of the conglomerate’s stock worth $102,900,000 after purchasing an additional 4,673,058 shares during the period.

Shares of GE opened at $102.23 on Monday. The firm has a market cap of $112.26 billion, a PE ratio of -196.60, a P/E/G ratio of 9.35 and a beta of 1.03. The company has a current ratio of 1.80, a quick ratio of 1.50 and a debt-to-equity ratio of 1.47. The firm has a fifty day simple moving average of $104.27 and a two-hundred day simple moving average of $104.77. General Electric has a 1-year low of $79.68 and a 1-year high of $116.17.

The business also recently declared a quarterly dividend, which was paid on Monday, October 25th. Shareholders of record on Monday, September 27th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Friday, September 24th. General Electric’s payout ratio is currently -61.54%.

About General Electric

General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.

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