General Electric (NYSE:GE) released its quarterly earnings data on Wednesday. The conglomerate reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05, Briefing.com reports. The business had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.83 billion. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. General Electric’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. General Electric updated its FY 2019 guidance to $0.55-0.65 EPS and its FY19 guidance to $0.55-0.65 EPS.
GE stock traded down $0.08 during mid-day trading on Friday, reaching $10.00. The company’s stock had a trading volume of 64,290,489 shares, compared to its average volume of 46,588,580. The company has a market capitalization of $87.21 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. The business’s 50 day moving average price is $10.35. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.50 and a current ratio of 1.77. General Electric has a 12 month low of $6.66 and a 12 month high of $13.78.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were issued a $0.01 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.40%. General Electric’s payout ratio is currently 6.15%.
In other General Electric news, Director Edward P. Garden sold 1,289,538 shares of General Electric stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total value of $12,921,170.76. Following the completion of the sale, the director now directly owns 25,000 shares in the company, valued at $250,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward P. Garden sold 3,370,314 shares of General Electric stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $9.53, for a total value of $32,119,092.42. The disclosure for this sale can be found here. Insiders own 1.13% of the company’s stock.
Several analysts recently weighed in on GE shares. Citigroup set a $14.00 price objective on General Electric and gave the company a “buy” rating in a research note on Wednesday, June 19th. UBS Group lowered General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $13.00 to $11.50 in a research note on Monday, July 15th. Zacks Investment Research lowered General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research note on Friday. William Blair reaffirmed a “buy” rating on shares of General Electric in a research note on Thursday, June 13th. Finally, Cowen reaffirmed a “hold” rating and issued a $8.00 price objective on shares of General Electric in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.68.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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