Zacks: Analysts Expect General Electric (GE) Will Announce Quarterly Sales of $27.50 Billion
Brokerages predict that General Electric (NYSE:GE) will post $27.50 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for General Electric’s earnings, with the lowest sales estimate coming in at $26.17 billion and the highest estimate coming in at $28.95 billion. General Electric posted sales of $27.66 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 0.6%. The firm is expected to report its next earnings results on Friday, April 20th.
According to Zacks, analysts expect that General Electric will report full year sales of $27.50 billion for the current financial year, with estimates ranging from $114.77 billion to $125.86 billion. For the next year, analysts anticipate that the company will report sales of $124.40 billion per share, with estimates ranging from $116.14 billion to $129.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow General Electric.
General Electric (NYSE:GE) last released its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The company 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 12.26%. General Electric’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 earnings per share.
In other news, insider Alexander Dimitrief bought 2,689 shares of the stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $16.16 per share, with a total value of $43,454.24. Following the acquisition, the insider now owns 81,185 shares in the company, valued at $1,311,949.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven M. Mollenkopf bought 5,500 shares of the stock in a transaction dated Thursday, November 16th. The stock was purchased at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the acquisition, the director now owns 5,500 shares in the company, valued at approximately $100,320. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 124,370 shares of company stock worth $2,245,570. 0.36% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of GE. Moon Capital Management LLC lifted its position in General Electric by 2.4% during the 2nd quarter. Moon Capital Management LLC now owns 21,578 shares of the conglomerate’s stock valued at $583,000 after purchasing an additional 507 shares during the period. Fenimore Asset Management Inc. lifted its position in General Electric by 27.9% during the 2nd quarter. Fenimore Asset Management Inc. now owns 22,080 shares of the conglomerate’s stock valued at $596,000 after purchasing an additional 4,823 shares during the period. Family Capital Trust Co lifted its position in General Electric by 1.2% during the 2nd quarter. Family Capital Trust Co now owns 166,975 shares of the conglomerate’s stock valued at $4,508,000 after purchasing an additional 1,900 shares during the period. Iowa State Bank lifted its position in General Electric by 1.8% during the 2nd quarter. Iowa State Bank now owns 186,694 shares of the conglomerate’s stock valued at $5,043,000 after purchasing an additional 3,262 shares during the period. Finally, Edmp Inc. lifted its position in General Electric by 1.2% during the 2nd quarter. Edmp Inc. now owns 20,555 shares of the conglomerate’s stock valued at $555,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 55.44% of the company’s stock.
Shares of General Electric (GE) traded up $0.49 during trading on Monday, reaching $14.94. 128,757,594 shares of the company’s stock traded hands, compared to its average volume of 104,870,000. The company has a market cap of $133,950.00, a price-to-earnings ratio of 13.83, a PEG ratio of 2.74 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.86 and a quick ratio of 1.53. General Electric has a 12-month low of $14.23 and a 12-month high of $30.59.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s payout ratio is 44.44%.
General Electric Company Profile
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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