General Electric (NYSE:GE) – Stock analysts at Oppenheimer cut their Q1 2018 earnings per share (EPS) estimates for General Electric in a research report issued to clients and investors on Wednesday. Oppenheimer analyst C. Glynn now expects that the conglomerate will post earnings per share of $0.19 for the quarter, down from their previous forecast of $0.20. Oppenheimer currently has a “Underperform” rating on the stock. Oppenheimer also issued estimates for General Electric’s Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.36 EPS and FY2018 earnings at $1.04 EPS.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter last year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year.
GE has been the subject of several other reports. JPMorgan Chase & Co. reduced their price objective on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Monday, October 23rd. Royal Bank of Canada set a $25.00 price objective on General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Morningstar restated a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Finally, Citigroup set a $28.00 price objective on General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. General Electric has an average rating of “Hold” and a consensus price target of $23.19.
Shares of General Electric (NYSE GE) opened at $18.76 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. General Electric has a 12 month low of $17.25 and a 12 month high of $31.47. The company has a market capitalization of $162,690.00, a PE ratio of 21.81, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio is currently 55.81%.
In related news, Director Francisco Dsouza purchased 55,000 shares of General Electric stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average cost of $17.94 per share, for a total transaction of $986,700.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman John Leonard Flannery purchased 60,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the transaction, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in GE. Vanguard Group Inc. grew its holdings in General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after purchasing an additional 3,297,890 shares during the period. BlackRock Inc. grew its holdings in General Electric by 3.9% in the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares during the period. Capital World Investors grew its holdings in General Electric by 8.6% in the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after purchasing an additional 11,194,678 shares during the period. Capital Research Global Investors grew its holdings in General Electric by 18.6% in the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after purchasing an additional 14,316,281 shares during the period. Finally, Franklin Resources Inc. grew its holdings in General Electric by 43.8% in the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after purchasing an additional 23,764,129 shares during the period. Institutional investors own 55.63% of the company’s stock.
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