General Electric (NYSE:GE) Updates FY24 Earnings Guidance

General Electric (NYSE:GE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $4.20-4.35 for the period, compared to the consensus estimate of $4.24. General Electric also updated its FY 2024 guidance to 4.200-4.350 EPS.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada upped their price target on General Electric from $190.00 to $210.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Melius Research upped their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.53.

General Electric Trading Up 3.1 %

Shares of NYSE GE traded up $5.47 during midday trading on Wednesday, hitting $182.13. The stock had a trading volume of 1,114,125 shares, compared to its average volume of 6,346,139. The company has a market capitalization of $199.36 billion, a price-to-earnings ratio of 58.08, a PEG ratio of 1.86 and a beta of 1.18. General Electric has a 1-year low of $84.58 and a 1-year high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company has a fifty day moving average price of $179.24 and a 200 day moving average price of $168.05.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. On average, analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.61%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.