Wall Street brokerages forecast that General Electric (NYSE:GE) will report $28.88 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for General Electric’s earnings, with the lowest sales estimate coming in at $28.01 billion and the highest estimate coming in at $29.58 billion. General Electric reported sales of $30.10 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 4.1%. The business is expected to issue its next earnings report on Friday, July 19th.
According to Zacks, analysts expect that General Electric will report full year sales of $118.47 billion for the current fiscal year, with estimates ranging from $114.90 billion to $120.71 billion. For the next year, analysts forecast that the firm will post sales of $98.09 billion, with estimates ranging from $88.02 billion to $117.14 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover General Electric.
General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $27.29 billion during the quarter, compared to the consensus estimate of $27.31 billion. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS.
A number of brokerages recently issued reports on GE. Deutsche Bank set a $10.00 target price on General Electric and gave the stock a “hold” rating in a report on Thursday, May 2nd. Cowen reiterated a “hold” rating and issued a $8.00 target price on shares of General Electric in a report on Wednesday, May 1st. JPMorgan Chase & Co. cut General Electric from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $6.00 to $5.00 in a report on Monday, April 8th. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Finally, ValuEngine upgraded General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $12.33.
Shares of GE stock opened at $10.13 on Friday. The company has a market cap of $87.91 billion, a PE ratio of 15.58, a P/E/G ratio of 2.24 and a beta of 0.99. General Electric has a 52 week low of $6.66 and a 52 week high of $15.59. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50.
In other General Electric news, insider Russell Stokes sold 49,904 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total transaction of $495,546.72. Following the transaction, the insider now directly owns 265,986 shares in the company, valued at approximately $2,641,240.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.13% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Balentine LLC grew its holdings in General Electric by 81.5% during the 1st quarter. Balentine LLC now owns 2,528 shares of the conglomerate’s stock valued at $25,000 after buying an additional 1,135 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in General Electric by 250.0% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock valued at $26,000 after buying an additional 2,500 shares in the last quarter. Mackey Komara & Dankovich LLC purchased a new position in General Electric during the 4th quarter valued at about $27,000. Arbor Wealth Management LLC purchased a new position in General Electric during the 4th quarter valued at about $30,000. Finally, Edge Wealth Management LLC grew its holdings in General Electric by 47.4% during the 4th quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock valued at $31,000 after buying an additional 1,300 shares in the last quarter. 57.73% 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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