General Electric (GE) Expected to Post Quarterly Sales of $26.85 Billion
Brokerages expect that General Electric (NYSE:GE) will announce $26.85 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for General Electric’s earnings. The lowest sales estimate is $26.49 billion and the highest is $27.23 billion. General Electric posted sales of $28.66 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.3%. The business is scheduled to report its next earnings results before the market opens on Tuesday, April 30th.
On average, analysts expect that General Electric will report full year sales of $117.24 billion for the current fiscal year, with estimates ranging from $114.91 billion to $119.67 billion. For the next financial year, analysts forecast that the firm will report sales of $99.27 billion, with estimates ranging from $91.20 billion to $119.59 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow General Electric.
General Electric (NYSE:GE) last issued its earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The business had revenue of $33.28 billion for the quarter, compared to the consensus estimate of $32.01 billion. General Electric had a positive return on equity of 9.85% and a negative net margin of 18.38%.
In other news, insider Russell Stokes sold 49,904 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total transaction of $495,546.72. Following the sale, the insider now directly owns 265,986 shares of the company’s stock, valued at approximately $2,641,240.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.13% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Centric Wealth Management bought a new position in shares of General Electric during the 1st quarter worth approximately $319,000. We Are One Seven LLC grew its position in shares of General Electric by 13.6% in the 1st quarter. We Are One Seven LLC now owns 23,377 shares of the conglomerate’s stock worth $233,000 after buying an additional 2,802 shares during the period. Greylin Investment Mangement Inc. grew its position in shares of General Electric by 17.3% in the 1st quarter. Greylin Investment Mangement Inc. now owns 266,030 shares of the conglomerate’s stock worth $2,658,000 after buying an additional 39,310 shares during the period. UNIVEST FINANCIAL Corp grew its position in shares of General Electric by 21.2% in the 1st quarter. UNIVEST FINANCIAL Corp now owns 20,652 shares of the conglomerate’s stock worth $206,000 after buying an additional 3,614 shares during the period. Finally, Aries Wealth Management increased its stake in shares of General Electric by 89.7% in the 1st quarter. Aries Wealth Management now owns 55,870 shares of the conglomerate’s stock worth $558,000 after acquiring an additional 26,418 shares in the last quarter. 57.72% of the stock is owned by institutional investors.
General Electric stock traded down $0.27 during mid-day trading on Tuesday, hitting $9.22. 83,124,972 shares of the company’s stock traded hands, compared to its average volume of 100,805,695. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $15.59. The company has a market capitalization of $86.91 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 4.06 and a beta of 0.99. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.81 and a quick ratio of 1.52.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, March 11th will be issued a $0.01 dividend. The ex-dividend date is Friday, March 8th. This represents a $0.04 annualized dividend and a yield of 0.43%. General Electric’s dividend 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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