$27.50 Billion in Sales Expected for General Electric (GE) This Quarter
Equities research analysts expect General Electric (NYSE:GE) to announce $27.50 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for General Electric’s earnings, with estimates ranging from $26.17 billion to $28.95 billion. General Electric reported sales of $27.66 billion during the same quarter last year, which would suggest a negative year over year growth rate of 0.6%. The company is expected to issue its next earnings report 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 expect that the company will post 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 a mean average based on a survey of analysts that that provide coverage for General Electric.
General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. General Electric’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share.
In related news, Chairman John Leonard Flannery bought 60,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was bought at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the purchase, the chairman now owns 575,477 shares in the company, valued at approximately $10,513,964.79. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction on Monday, January 29th. The stock was bought at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the purchase, the insider now owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 124,370 shares of company stock valued at $2,245,570. Insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in GE. Peak Financial Management Inc. grew its position in shares of General Electric by 0.3% during the 2nd quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock worth $251,000 after buying an additional 25 shares during the period. Cutter & CO Brokerage Inc. grew its position in shares of General Electric by 0.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after buying an additional 67 shares during the period. NorthRock Partners LLC grew its position in shares of General Electric by 0.9% during the 2nd quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock worth $241,000 after buying an additional 80 shares during the period. Valmark Advisers Inc. grew its position in shares of General Electric by 1.4% during the 2nd quarter. Valmark Advisers Inc. now owns 9,797 shares of the conglomerate’s stock worth $265,000 after buying an additional 138 shares during the period. Finally, Shapiro Capital Management LLC grew its position in shares of General Electric by 0.8% during the 2nd quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock worth $510,000 after buying an additional 147 shares during the period. 55.44% of the stock is owned by institutional investors.
General Electric (NYSE:GE) traded down $0.43 during trading hours on Monday, hitting $14.82. 79,571,308 shares of the stock were exchanged, compared to its average volume of 106,646,477. General Electric has a one year low of $14.67 and a one year high of $30.59. The company has a market cap of $128,350.00, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 2.90 and a beta of 0.93. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 2.09.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Tuesday, December 26th. General Electric’s dividend payout ratio is presently 44.44%.
About General Electric
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.