Equities analysts forecast that General Electric (NYSE:GE) will announce earnings of $0.13 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for General Electric’s earnings, with the lowest EPS estimate coming in at $0.09 and the highest estimate coming in at $0.15. General Electric posted earnings of $0.14 per share during the same quarter last year, which indicates a negative year over year growth rate of 7.1%. The business is expected to announce its next quarterly earnings report on Tuesday, May 5th.
According to Zacks, analysts expect that General Electric will report full year earnings of $0.58 per share for the current financial year, with EPS estimates ranging from $0.54 to $0.60. For the next year, analysts anticipate that the company will post earnings of $0.77 per share, with EPS estimates ranging from $0.64 to $0.85. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover General Electric.
General Electric (NYSE:GE) last released its earnings results on Wednesday, January 29th. The conglomerate reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. General Electric had a positive return on equity of 14.13% and a negative net margin of 4.71%. The company had revenue of $26.24 billion for the quarter, compared to analysts’ expectations of $25.77 billion. During the same period in the previous year, the business posted $0.17 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year.
Several equities research analysts recently weighed in on the company. UBS Group raised General Electric from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $11.50 to $14.00 in a report on Wednesday, December 11th. Citigroup lifted their price objective on General Electric from to in a report on Friday, January 31st. Credit Suisse Group reissued a “hold” rating and issued a $11.00 price objective on shares of General Electric in a report on Wednesday, January 29th. Morgan Stanley raised General Electric from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $11.00 to $14.00 in a report on Thursday, January 23rd. Finally, ValuEngine raised General Electric from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.29.
GE traded down $0.08 during trading hours on Thursday, hitting $12.53. The stock had a trading volume of 39,536,270 shares, compared to its average volume of 62,807,793. The company’s fifty day simple moving average is $12.22 and its 200 day simple moving average is $10.41. General Electric has a 1 year low of $7.65 and a 1 year high of $13.26. The stock has a market cap of $109.43 billion, a PE ratio of -20.21, a price-to-earnings-growth ratio of 3.27 and a beta of 1.14. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 3.16.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Monday, March 9th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, March 6th. General Electric’s payout ratio is presently 6.15%.
A number of hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC bought a new stake in shares of General Electric during the 3rd quarter valued at about $25,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Electric during the 4th quarter valued at about $25,000. CLS Investments LLC boosted its position in shares of General Electric by 2,300.0% during the 4th quarter. CLS Investments LLC now owns 2,400 shares of the conglomerate’s stock valued at $27,000 after acquiring an additional 2,300 shares during the last quarter. Pacifica Partners Inc. bought a new stake in shares of General Electric during the 4th quarter valued at about $28,000. Finally, Manchester Financial Inc. bought a new stake in shares of General Electric during the 4th quarter valued at about $29,000. 60.32% of the stock is owned by institutional investors and hedge funds.
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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