Brokerages expect General Electric (NYSE:GE) to announce sales of $29.70 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for General Electric’s earnings. The highest sales estimate is $29.89 billion and the lowest is $29.34 billion. General Electric reported sales of $29.56 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.5%. The business is expected to issue its next quarterly earnings results before the market opens on Friday, July 20th.
On average, analysts expect that General Electric will report full year sales of $123.14 billion for the current year, with estimates ranging from $119.09 billion to $127.07 billion. For the next year, analysts anticipate that the firm will report sales of $123.97 billion per share, with estimates ranging from $119.63 billion to $126.49 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for General Electric.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, April 20th. The conglomerate reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. The firm had revenue of $28.66 billion during the quarter, compared to analysts’ expectations of $27.26 billion. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS.
A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reiterated a “sell” rating and set a $11.00 price objective on shares of General Electric in a research note on Tuesday, May 22nd. Goldman Sachs Group set a $14.00 price objective on General Electric and gave the company a “hold” rating in a research note on Monday, April 16th. Stifel Nicolaus lifted their price objective on General Electric from $13.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, April 27th. Credit Suisse Group reiterated a “neutral” rating and set a $15.00 price objective on shares of General Electric in a research note on Friday, April 27th. Finally, ValuEngine lowered General Electric from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Eight analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $17.92.
In related news, major shareholder Electric Co General sold 3,883,000 shares of General Electric stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $15.00, for a total value of $58,245,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.12% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Mount Yale Investment Advisors LLC acquired a new position in General Electric in the first quarter valued at approximately $116,000. Greenline Partners LLC acquired a new position in General Electric in the first quarter valued at approximately $776,000. Menora Mivtachim Holdings LTD. acquired a new position in General Electric in the first quarter valued at approximately $399,000. Rikoon Group LLC lifted its holdings in General Electric by 10.9% in the first quarter. Rikoon Group LLC now owns 56,256 shares of the conglomerate’s stock valued at $743,000 after acquiring an additional 5,552 shares during the last quarter. Finally, Personal Resources Investment & Strategic Management Inc. acquired a new position in General Electric in the first quarter valued at approximately $2,664,000. Institutional investors and hedge funds own 53.81% of the company’s stock.
GE traded down $0.29 on Friday, reaching $12.76. 2,304,818 shares of the stock were exchanged, compared to its average volume of 60,866,808. General Electric has a fifty-two week low of $12.61 and a fifty-two week high of $27.79. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.48 and a current ratio of 1.76. The stock has a market cap of $113.31 billion, a P/E ratio of 12.14, a P/E/G ratio of 2.50 and a beta of 1.01.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 25th. Investors of record on Monday, June 18th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.76%. The ex-dividend date is Friday, June 15th. General Electric’s payout ratio is 45.71%.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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