Zacks: Brokerages Expect General Electric (NYSE:GE) Will Post Quarterly Sales of $26.16 Billion
Analysts expect General Electric (NYSE:GE) to post $26.16 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for General Electric’s earnings. The lowest sales estimate is $25.74 billion and the highest is $26.54 billion. General Electric posted sales of $33.28 billion during the same quarter last year, which would indicate a negative year over year growth rate of 21.4%. The business is expected to announce its next earnings results before the market opens on Wednesday, January 29th.
On average, analysts expect that General Electric will report full-year sales of $94.45 billion for the current fiscal year, with estimates ranging from $93.79 billion to $95.52 billion. For the next year, analysts expect that the firm will post sales of $92.15 billion, with estimates ranging from $89.26 billion to $94.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow General Electric.
General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. The firm had revenue of $23.36 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the company earned $0.14 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of General Electric by 1.9% during the 2nd quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock valued at $5,383,800,000 after buying an additional 9,483,976 shares during the period. California Public Employees Retirement System raised its holdings in shares of General Electric by 30.2% during the 3rd quarter. California Public Employees Retirement System now owns 18,799,610 shares of the conglomerate’s stock valued at $168,069,000 after buying an additional 4,356,911 shares during the period. Natixis increased its holdings in General Electric by 61.2% during the 2nd quarter. Natixis now owns 7,082,821 shares of the conglomerate’s stock worth $74,369,000 after purchasing an additional 2,687,677 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in General Electric by 13.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 11,155,352 shares of the conglomerate’s stock worth $100,147,000 after purchasing an additional 1,333,462 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in General Electric by 69.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,638,294 shares of the conglomerate’s stock worth $23,585,000 after purchasing an additional 1,085,534 shares during the last quarter. Institutional investors own 60.11% of the company’s stock.
NYSE:GE traded up $0.29 during mid-day trading on Thursday, reaching $11.73. The company’s stock had a trading volume of 62,696,200 shares, compared to its average volume of 61,063,051. The company’s fifty day simple moving average is $11.51 and its two-hundred day simple moving average is $10.14. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.84 and a quick ratio of 1.60. General Electric has a twelve month low of $7.65 and a twelve month high of $12.23. The stock has a market cap of $102.44 billion, a P/E ratio of -19.23, a P/E/G ratio of 2.50 and a beta of 1.16.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, December 23rd were issued a $0.01 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. General Electric’s dividend payout ratio (DPR) is 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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