Brokerages Set General Electric (NYSE:GE) Target Price at $11.50
Shares of General Electric (NYSE:GE) have received an average rating of “Hold” from the twenty-one research firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $11.50.
GE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of General Electric in a report on Wednesday, July 31st. William Blair reissued a “buy” rating on shares of General Electric in a report on Thursday, June 13th. Citigroup set a $14.00 price objective on shares of General Electric and gave the stock a “buy” rating in a report on Wednesday, June 19th. Cowen restated a “hold” rating and issued a $8.00 price target on shares of General Electric in a research report on Wednesday, May 1st. Finally, Deutsche Bank set a $10.00 price target on shares of General Electric and gave the stock a “hold” rating in a research report on Thursday, May 2nd.
In other news, Chairman H Lawrence Culp, Jr. acquired 252,200 shares of General Electric stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $7.93 per share, for a total transaction of $1,999,946.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman H Lawrence Culp, Jr. acquired 331,684 shares of General Electric stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $9.04 per share, for a total transaction of $2,998,423.36. The disclosure for this purchase can be found here. Insiders acquired a total of 749,732 shares of company stock valued at $6,536,708 in the last 90 days. Corporate insiders own 1.13% of the company’s stock.
Shares of GE stock traded down $1.02 during trading hours on Thursday, hitting $8.01. The company’s stock had a trading volume of 396,060,329 shares, compared to its average volume of 61,059,360. The company has a current ratio of 1.73, a quick ratio of 1.44 and a debt-to-equity ratio of 1.65. The stock has a market cap of $78.98 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.96 and a beta of 1.03. The business has a fifty day moving average of $10.08 and a 200-day moving average of $9.97. General Electric has a twelve month low of $6.66 and a twelve month high of $13.78.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. The company had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. General Electric’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. On average, equities analysts expect that General Electric will post 0.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were issued a dividend of $0.01 per share. The ex-dividend date was Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.50%. General Electric’s dividend payout ratio (DPR) is currently 6.15%.
About General Electric
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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