General Electric (NYSE:GE – Get Free Report) released its quarterly earnings results on Tuesday. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02, Briefing.com reports. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 earnings per share. General Electric updated its FY 2024 guidance to 4.200-4.350 EPS and its FY24 guidance to $4.20-4.35 EPS.
General Electric Trading Down 1.1 %
Shares of General Electric stock traded down $2.05 on Thursday, reaching $179.64. 4,365,352 shares of the company’s stock were exchanged, compared to its average volume of 6,378,624. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a 52 week low of $84.58 and a 52 week high of $194.80. The firm’s 50-day moving average is $179.51 and its two-hundred day moving average is $168.15. The company has a market capitalization of $196.64 billion, a P/E ratio of 59.00, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.
General Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 36.72%.
Analyst Ratings Changes
Check Out Our Latest Report on GE
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.
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