General Electric (NYSE:GE) – Investment analysts at Gabelli reduced their FY2018 earnings estimates for General Electric in a research report issued to clients and investors on Wednesday, October 31st. Gabelli analyst J. Bergner now expects that the conglomerate will post earnings per share of $0.74 for the year, down from their prior estimate of $0.90. Gabelli currently has a “Buy” rating and a $21.00 price target on the stock. Gabelli also issued estimates for General Electric’s FY2019 earnings at $0.88 EPS, FY2020 earnings at $1.10 EPS and FY2021 earnings at $1.24 EPS.
Other equities analysts have also issued reports about the company. UBS Group lowered General Electric to an “add” rating and set a $23.00 target price for the company. in a research note on Tuesday, October 2nd. Morningstar set a $15.70 target price on General Electric and gave the company a “buy” rating in a research note on Monday, August 13th. Citigroup set a $21.00 target price on General Electric and gave the company a “buy” rating in a research note on Monday, October 1st. Royal Bank of Canada restated a “buy” rating and set a $15.00 price target on shares of General Electric in a research note on Tuesday. Finally, Cowen restated a “hold” rating and set a $14.50 price target on shares of General Electric in a research note on Friday, July 20th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $14.94.
General Electric stock opened at $9.29 on Friday. The firm has a market capitalization of $88.39 billion, a P/E ratio of 8.85, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96. General Electric has a 52 week low of $9.06 and a 52 week high of $20.75. The company has a quick ratio of 1.51, a current ratio of 1.81 and a debt-to-equity ratio of 2.40.
General Electric (NYSE:GE) last released its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.06). The business had revenue of $29.57 billion during the quarter, compared to analyst estimates of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, September 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.17%. General Electric’s dividend payout ratio (DPR) is currently 45.71%.
Hedge funds have recently bought and sold shares of the company. Fusion Family Wealth LLC grew its stake in shares of General Electric by 153.3% in the second quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock valued at $112,000 after buying an additional 5,002 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new position in General Electric in the first quarter valued at about $116,000. Beech Hill Advisors Inc. purchased a new position in General Electric in the third quarter valued at about $119,000. Archford Capital Strategies LLC purchased a new position in General Electric in the first quarter valued at about $121,000. Finally, LVW Advisors LLC purchased a new position in General Electric in the third quarter valued at about $127,000. Institutional investors and hedge funds own 53.75% of the company’s stock.
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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