Equities research analysts expect that General Electric (NYSE:GE) will announce earnings of $0.12 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for General Electric’s earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at $0.09. General Electric posted earnings per share of $0.21 during the same quarter last year, which suggests a negative year-over-year growth rate of 42.9%. The business is expected to announce its next quarterly earnings results on Friday, April 20th.
According to Zacks, analysts expect that General Electric will report full-year earnings of $0.99 per share for the current year, with EPS estimates ranging from $0.92 to $1.05. For the next year, analysts forecast that the company will report earnings of $1.02 per share, with EPS estimates ranging from $0.85 to $1.15. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that cover General Electric.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The firm had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. During the same period in the previous year, the company earned $0.46 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis.
Several research analysts have weighed in on GE shares. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $16.00 target price (down from $17.00) on shares of General Electric in a research report on Monday, January 8th. Goldman Sachs Group set a $22.00 target price on General Electric and gave the stock a “neutral” rating in a research report on Tuesday, November 14th. Citigroup dropped their target price on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Morningstar set a $23.50 target price on General Electric and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Bank of America lowered General Electric from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research report on Monday, January 22nd. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $18.27.
Shares of General Electric (GE) traded down $0.16 during mid-day trading on Friday, reaching $14.27. The company’s stock had a trading volume of 56,977,571 shares, compared to its average volume of 84,820,000. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87. General Electric has a 12 month low of $13.95 and a 12 month high of $30.54. The firm has a market cap of $123,900.00, a price-to-earnings ratio of -47.57, a P/E/G ratio of 2.86 and a beta of 1.00.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is currently -160.00%.
In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $16.16 per share, with a total value of $43,454.24. Following the acquisition, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.36% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GE. Beach Investment Management LLC. bought a new stake in shares of General Electric in the 2nd quarter worth approximately $5,487,000. MV Capital Management Inc. lifted its position in shares of General Electric by 1.7% in the 2nd quarter. MV Capital Management Inc. now owns 20,821 shares of the conglomerate’s stock worth $562,000 after acquiring an additional 344 shares during the period. Barrett Asset Management LLC lifted its position in shares of General Electric by 1.2% in the 2nd quarter. Barrett Asset Management LLC now owns 761,740 shares of the conglomerate’s stock worth $20,575,000 after acquiring an additional 9,004 shares during the period. HL Financial Services LLC lifted its position in shares of General Electric by 0.8% in the 2nd quarter. HL Financial Services LLC now owns 3,245,120 shares of the conglomerate’s stock worth $87,651,000 after acquiring an additional 26,293 shares during the period. Finally, SignalPoint Asset Management LLC lifted its position in shares of General Electric by 0.9% during the 2nd quarter. SignalPoint Asset Management LLC now owns 59,949 shares of the conglomerate’s stock worth $1,619,000 after buying an additional 526 shares during the period. 56.42% of the stock is currently owned by hedge funds and other institutional investors.
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About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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