General Electric (NYSE:GE) Announces Earnings Results, Misses Expectations By $0.06 EPS
General Electric (NYSE:GE) released its quarterly earnings results on Wednesday. The conglomerate reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.06), MarketWatch Earnings reports. General Electric had a negative net margin of 5.10% and a positive return on equity of 7.94%. The business had revenue of $17.75 billion for the quarter, compared to analysts’ expectations of $17.27 billion. During the same period in the previous year, the company earned $0.17 EPS. General Electric’s revenue for the quarter was down 38.4% compared to the same quarter last year.
General Electric stock traded down $0.19 during midday trading on Friday, hitting $6.07. 142,731,657 shares of the company’s stock were exchanged, compared to its average volume of 71,095,600. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.69 and a current ratio of 2.21. General Electric has a 12 month low of $5.48 and a 12 month high of $13.26. The firm has a 50-day moving average of $6.90 and a two-hundred day moving average of $8.33. The company has a market cap of $54.76 billion, a PE ratio of -10.47 and a beta of 0.95.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Monday, June 29th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, June 26th. General Electric’s payout ratio is 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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