Somewhat Favorable Press Coverage Somewhat Unlikely to Affect General Electric (GE) Stock Price
News articles about General Electric (NYSE:GE) have been trending somewhat positive recently, according to Accern. Accern identifies negative and positive news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. General Electric earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned news coverage about the conglomerate an impact score of 46.3860951194324 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the media stories that may have impacted Accern Sentiment’s rankings:
- Jeff Immelt of General Electric quits race to be Uber boss – BBC News (bbc.com)
- Where Will General Electric Be in 10 Years? – Motley Fool (fool.com)
- Tackling The Octopus: GE Sum-Of-The-Parts Valuation – Seeking Alpha (seekingalpha.com)
- Finish Line, General Electric Tumble into Tuesday’s 52-Week Low Club – 24/7 Wall St. (247wallst.com)
- General Electric Is Pulverizing United Technologies in This Hot Niche Market – Madison.com (host.madison.com)
Several equities analysts have commented on GE shares. Stifel Nicolaus reissued a “buy” rating on shares of General Electric in a research report on Wednesday, June 14th. Vetr raised shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 price target for the company in a research report on Wednesday, June 7th. Citigroup Inc. reissued a “buy” rating and issued a $34.00 price target (down previously from $36.00) on shares of General Electric in a research report on Monday, July 10th. UBS AG reissued a “buy” rating and issued a $31.00 price target (down previously from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Finally, TheStreet cut shares of General Electric from a “b-” rating to a “c” rating in a research report on Friday, May 19th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. General Electric has an average rating of “Hold” and a consensus target price of $30.08.
Shares of General Electric (NYSE GE) traded down 0.12% during midday trading on Tuesday, reaching $24.44. 23,910,062 shares of the company traded hands. General Electric has a 12 month low of $24.28 and a 12 month high of $32.38. The company has a 50 day moving average of $25.62 and a 200 day moving average of $28.15. The firm has a market capitalization of $211.60 billion, a P/E ratio of 29.77 and a beta of 1.21.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities research analysts predict that General Electric will post $1.57 earnings per share for the current fiscal year.
In other General Electric news, insider Alexander Dimitrief purchased 1,845 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average cost of $25.54 per share, with a total value of $47,121.30. Following the completion of the acquisition, the insider now directly owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Rohr purchased 27,425 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average cost of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. Insiders bought a total of 233,253 shares of company stock worth $5,860,264 in the last 90 days. 0.36% of the stock is owned by corporate insiders.
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