Brokerages Expect General Electric Company (GE) Will Post Earnings of $0.50 Per Share
Wall Street analysts predict that General Electric Company (NYSE:GE) will report earnings of $0.50 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for General Electric’s earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.52. General Electric posted earnings per share of $0.32 in the same quarter last year, which would indicate a positive year over year growth rate of 56.3%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Friday, October 20th.
On average, analysts expect that General Electric will report full year earnings of $1.57 per share for the current year, with EPS estimates ranging from $1.50 to $1.66. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.70 per share, with EPS estimates ranging from $1.50 to $1.89. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover General Electric.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter last year, the company posted $0.51 EPS. General Electric’s quarterly revenue was down 11.8% compared to the same quarter last year.
GE has been the topic of several research analyst reports. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 price objective on the stock. in a research report on Thursday, May 11th. Deutsche Bank AG cut shares of General Electric from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $28.00 to $24.00 in a research report on Friday, May 12th. TheStreet cut shares of General Electric from a “b-” rating to a “c” rating in a research report on Friday, May 19th. Credit Suisse Group lowered their price objective on shares of General Electric from $33.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, June 1st. They noted that the move was a valuation call. Finally, Cowen and Company reiterated a “market perform” rating and set a $30.00 price objective on shares of General Electric in a research report on Tuesday, June 13th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $30.08.
In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the transaction, the insider now owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander Dimitrief bought 1,845 shares of the business’s stock in a transaction on Monday, July 24th. The shares were purchased at an average cost of $25.54 per share, with a total value of $47,121.30. Following the transaction, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 233,253 shares of company stock valued at $5,860,264. Company insiders own 0.36% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ullmann Financial Group Inc. purchased a new position in General Electric during the first quarter worth $106,000. Feltz Wealth PLAN Inc. purchased a new position in General Electric during the first quarter worth $114,000. Ffcm LLC purchased a new position in General Electric during the second quarter worth $114,000. PHH Investments Ltd. raised its position in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares in the last quarter. Finally, Corbenic Partners LLC raised its position in General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after buying an additional 725 shares in the last quarter. 54.31% of the stock is owned by hedge funds and other institutional investors.
General Electric (NYSE:GE) traded up 0.78% during trading on Thursday, reaching $24.49. 22,867,795 shares of the company were exchanged. General Electric has a one year low of $24.30 and a one year high of $32.38. The firm’s 50 day moving average price is $25.62 and its 200-day moving average price is $28.15. The stock has a market capitalization of $212.03 billion, a price-to-earnings ratio of 29.83 and a beta of 1.21.
About General Electric
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