Wall Street brokerages expect General Electric (NYSE:GE) to announce $27.90 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for General Electric’s earnings, with the highest sales estimate coming in at $28.95 billion and the lowest estimate coming in at $27.26 billion. General Electric posted sales of $27.66 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.9%. The firm is expected to report its next quarterly earnings report on Friday, April 20th.
On average, analysts expect that General Electric will report full year sales of $27.90 billion for the current financial year, with estimates ranging from $121.26 billion to $127.04 billion. For the next financial year, analysts expect that the business will report sales of $126.32 billion per share, with estimates ranging from $122.64 billion to $130.80 billion. Zacks’ sales averages are an average based on a survey of analysts that cover General Electric.
General Electric (NYSE:GE) last announced its quarterly 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). The firm had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 EPS.
GE has been the topic of a number of recent analyst reports. Morningstar set a $23.50 target price on shares of General Electric and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Citigroup decreased their target price on shares of General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Stifel Nicolaus set a $18.00 target price on shares of General Electric and gave the company a “neutral” rating in a research report on Monday, December 11th. Cowen reaffirmed a “market perform” rating and issued a $15.00 target price (down previously from $17.00) on shares of General Electric in a research report on Monday, February 26th. Finally, UBS Group initiated coverage on shares of General Electric in a research report on Tuesday, January 23rd. They issued a “neutral” rating and a $17.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.27.
General Electric (GE) traded down $0.16 during midday trading on Friday, reaching $14.27. 56,977,571 shares of the company’s stock were exchanged, compared to its average volume of 84,820,000. General Electric has a 52 week low of $13.95 and a 52 week high of $30.54. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.59. The firm has a market capitalization of $123,900.00, a PE ratio of -47.57, a P/E/G ratio of 2.86 and a beta of 1.00.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.36%. General Electric’s dividend payout ratio (DPR) is presently -160.00%.
In other news, insider Alexander Dimitrief bought 2,689 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the purchase, the insider now owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its holdings in General Electric by 21.3% in the second quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after purchasing an additional 593,686 shares in the last quarter. Palouse Capital Management Inc. boosted its holdings in General Electric by 5.4% in the third quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock valued at $4,608,000 after purchasing an additional 9,755 shares in the last quarter. Destination Wealth Management boosted its holdings in General Electric by 5.6% in the second quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after purchasing an additional 41,100 shares in the last quarter. Boston Partners boosted its holdings in General Electric by 2.5% in the third quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock valued at $352,756,000 after purchasing an additional 360,154 shares in the last quarter. Finally, Berkshire Asset Management LLC PA boosted its holdings in General Electric by 4.0% in the third quarter. Berkshire Asset Management LLC PA now owns 958,533 shares of the conglomerate’s stock valued at $23,177,000 after purchasing an additional 36,870 shares in the last quarter. Hedge funds and other institutional investors own 56.42% of the company’s stock.
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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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