General Electric (NYSE:GE) – Analysts at Oppenheimer decreased their FY2018 earnings estimates for shares of General Electric in a research note issued to investors on Tuesday, October 30th. Oppenheimer analyst C. Glynn now forecasts that the conglomerate will post earnings of $0.74 per share for the year, down from their prior estimate of $0.92. Oppenheimer currently has a “Neutral” rating on the stock. Oppenheimer also issued estimates for General Electric’s Q4 2018 earnings at $0.25 EPS and FY2019 earnings at $0.80 EPS.
General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The business had revenue of $29.57 billion during the quarter, compared to analysts’ expectations of $30.08 billion. During the same quarter in the prior year, the firm earned $0.29 earnings per share. General Electric’s quarterly revenue was down 3.6% on a year-over-year basis.
GE has been the topic of several other reports. JPMorgan Chase & Co. set a $11.00 price objective on shares of General Electric and gave the stock a “sell” rating in a research report on Monday, July 23rd. Gabelli reiterated a “buy” rating and issued a $21.00 price objective on shares of General Electric in a research report on Monday, September 24th. Morningstar set a $15.70 price objective on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, August 13th. Citigroup decreased their price objective on shares of General Electric from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Barclays upgraded shares of General Electric from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective on the stock in a research report on Monday, October 8th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. General Electric currently has an average rating of “Hold” and a consensus target price of $14.94.
General Electric stock opened at $9.58 on Thursday. General Electric has a 52 week low of $9.54 and a 52 week high of $20.75. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.51 and a current ratio of 1.81. The stock has a market capitalization of $88.39 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96.
A number of large investors have recently added to or reduced their stakes in GE. FMR LLC lifted its holdings in General Electric by 158.6% in the 2nd quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock valued at $2,799,528,000 after purchasing an additional 126,169,069 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in General Electric by 43.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock valued at $1,216,672,000 after purchasing an additional 27,527,425 shares in the last quarter. Franklin Resources Inc. lifted its holdings in General Electric by 11.0% in the 1st quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock valued at $2,762,834,000 after purchasing an additional 20,275,020 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in General Electric by 334.5% in the 2nd quarter. Pzena Investment Management LLC now owns 17,048,137 shares of the conglomerate’s stock valued at $232,025,000 after purchasing an additional 13,124,900 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in General Electric by 26.1% in the 2nd quarter. Morgan Stanley now owns 54,507,783 shares of the conglomerate’s stock valued at $741,852,000 after purchasing an additional 11,294,608 shares in the last quarter. Institutional investors own 53.75% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 25th. Shareholders of record on Monday, September 17th were issued a $0.12 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 5.01%. General Electric’s dividend payout ratio (DPR) is 45.71%.
About General Electric
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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