General Electric (GE) Scheduled to Post Quarterly Earnings on Wednesday
General Electric (NYSE:GE) is scheduled to announce its earnings results before the market opens on Wednesday, January 24th. Analysts expect the company to announce earnings of $0.29 per share for the quarter.
General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. On average, analysts expect General Electric to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Shares of General Electric (GE) opened at $16.26 on Monday. The stock has a market capitalization of $141,010.00, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 2.98 and a beta of 1.07. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. General Electric has a 12-month low of $16.02 and a 12-month high of $30.90.
In other General Electric news, Director Francisco Dsouza bought 55,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased 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 through this hyperlink. Also, Chairman John Leonard Flannery bought 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the acquisition, the chairman now directly owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The disclosure for this purchase can be found here. Insiders have bought 120,500 shares of company stock worth $2,183,220 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Cutter & CO Brokerage Inc. increased its holdings in General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after buying an additional 67 shares during the last quarter. NorthRock Partners LLC increased its holdings in General Electric by 0.9% in the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after buying an additional 80 shares during the last quarter. Shapiro Capital Management LLC increased its holdings in General Electric by 0.8% in the second quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock valued at $510,000 after buying an additional 147 shares during the last quarter. CFO4Life Group LLC increased its holdings in General Electric by 0.9% in the second quarter. CFO4Life Group LLC now owns 16,610 shares of the conglomerate’s stock valued at $449,000 after buying an additional 152 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in General Electric by 0.3% in the second quarter. Sunbelt Securities Inc. now owns 54,208 shares of the conglomerate’s stock valued at $1,464,000 after buying an additional 176 shares during the last quarter. 55.64% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on GE. Citigroup set a $28.00 target price on General Electric and gave the company a “buy” rating in a research report on Monday, October 23rd. UBS Group lowered General Electric from a “buy” rating to a “neutral” rating and cut their target price for the company from $31.00 to $24.00 in a research report on Monday, October 23rd. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price on the stock. in a research report on Wednesday, January 10th. Royal Bank of Canada lowered General Electric from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $25.00 to $20.00 in a research report on Tuesday, November 14th. Finally, Deutsche Bank cut their target price on General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a research report on Tuesday, November 21st. Six analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. General Electric currently has a consensus rating of “Hold” and an average price target of $22.94.
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General Electric Company Profile
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.
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