General Electric Company (GE) Expected to Announce Earnings of $0.29 Per Share
Brokerages forecast that General Electric Company (NYSE:GE) will announce $0.29 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for General Electric’s earnings, with estimates ranging from $0.27 to $0.30. General Electric posted earnings per share of $0.46 in the same quarter last year, which would suggest a negative year over year growth rate of 37%. The company is scheduled to issue its next earnings report on Friday, January 19th.
According to Zacks, analysts expect that General Electric will report full year earnings of $1.06 per share for the current financial year, with EPS estimates ranging from $1.05 to $1.08. For the next fiscal year, analysts forecast that the business will post earnings of $1.04 per share, with EPS estimates ranging from $1.00 to $1.15. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover General Electric.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis.
Several research analysts have commented on the stock. J P Morgan Chase & Co set a $22.00 price objective on shares of General Electric and gave the company a “sell” rating in a research report on Tuesday, September 19th. Citigroup Inc. set a $28.00 price objective on shares of General Electric and gave the company a “buy” rating in a research report on Monday, October 23rd. UBS AG downgraded shares of General Electric from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $31.00 to $24.00 in a research report on Monday, October 23rd. Royal Bank Of Canada cut shares of General Electric from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $25.00 to $20.00 in a research note on Tuesday, November 14th. Finally, Deutsche Bank AG decreased their target price on shares of General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a research note on Tuesday, November 21st. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $24.49.
In other news, Director Francisco Dsouza purchased 55,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were acquired at an average price of $17.94 per share, with a total value of $986,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were purchased at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The disclosure for this purchase can be found here. In the last three months, insiders purchased 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. K.J. Harrison & Partners Inc raised its holdings in shares of General Electric by 16.3% during the first quarter. K.J. Harrison & Partners Inc now owns 92,995 shares of the conglomerate’s stock valued at $2,771,000 after purchasing an additional 13,000 shares during the period. BTC Capital Management Inc. raised its holdings in shares of General Electric by 1.1% during the first quarter. BTC Capital Management Inc. now owns 134,796 shares of the conglomerate’s stock valued at $4,018,000 after purchasing an additional 1,411 shares during the period. Selway Asset Management raised its holdings in shares of General Electric by 1.6% during the first quarter. Selway Asset Management now owns 61,038 shares of the conglomerate’s stock valued at $1,819,000 after purchasing an additional 975 shares during the period. Pegasus Partners Ltd. raised its holdings in shares of General Electric by 2.3% during the first quarter. Pegasus Partners Ltd. now owns 79,135 shares of the conglomerate’s stock valued at $2,358,000 after purchasing an additional 1,795 shares during the period. Finally, Access Financial Services Inc. raised its holdings in shares of General Electric by 81.5% during the first quarter. Access Financial Services Inc. now owns 53,846 shares of the conglomerate’s stock valued at $1,605,000 after purchasing an additional 24,180 shares during the period. 54.75% of the stock is currently owned by institutional investors and hedge funds.
General Electric (GE) opened at $18.19 on Monday. General Electric has a 1 year low of $17.46 and a 1 year high of $32.38. The company has a market cap of $157,745.23, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86.
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About General Electric
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