General Electric (NYSE:GE) Expected to Post Quarterly Sales of $29.09 Billion
Analysts forecast that General Electric (NYSE:GE) will report sales of $29.09 billion for the current quarter, according to Zacks. Four analysts have provided estimates for General Electric’s earnings, with estimates ranging from $28.80 billion to $29.59 billion. General Electric posted sales of $29.57 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.6%. The business is scheduled to issue its next earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that General Electric will report full-year sales of $117.68 billion for the current fiscal year, with estimates ranging from $115.98 billion to $118.57 billion. For the next financial year, analysts expect that the business will report sales of $102.55 billion, with estimates ranging from $88.19 billion to $120.88 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for General Electric.
General Electric (NYSE:GE) last announced its earnings results on Wednesday, July 31st. The conglomerate reported $0.17 EPS for the quarter, topping the consensus estimate of $0.12 by $0.05. The firm 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%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS.
In other news, Director Leslie Seidman acquired 6,500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $7.80 per share, with a total value of $50,700.00. Following the completion of the acquisition, the director now owns 6,500 shares of the company’s stock, valued at $50,700. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman H Lawrence Culp, Jr. acquired 331,684 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $9.04 per share, with a total value of $2,998,423.36. The disclosure for this purchase can be found here. Insiders have acquired a total of 801,068 shares of company stock valued at $6,954,745 over the last ninety days. 1.13% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in GE. Ashburton Jersey Ltd acquired a new position in shares of General Electric during the second quarter worth approximately $25,000. Employers Holdings Inc. bought a new stake in shares of General Electric in the 2nd quarter worth $28,000. Fusion Family Wealth LLC raised its holdings in shares of General Electric by 10,516.0% in the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 2,629 shares during the last quarter. Arbor Wealth Management LLC purchased a new stake in shares of General Electric in the fourth quarter valued at about $30,000. Finally, Manchester Financial Inc. bought a new position in shares of General Electric during the second quarter valued at about $30,000. 59.32% of the stock is owned by institutional investors and hedge funds.
Shares of General Electric stock traded up $0.22 on Friday, hitting $9.36. 56,700,463 shares of the company traded hands, compared to its average volume of 78,084,648. General Electric has a 12-month low of $6.66 and a 12-month high of $13.78. 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 company has a market cap of $79.77 billion, a P/E ratio of 14.40, a P/E/G ratio of 2.00 and a beta of 1.09. The firm’s 50-day simple moving average is $9.08 and its 200 day simple moving average is $9.76.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 16th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Friday, September 13th. General Electric’s payout ratio is presently 6.15%.
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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