$18.32 Billion in Sales Expected for General Electric (NYSE:GE) This Quarter
Equities analysts expect that General Electric (NYSE:GE) will report $18.32 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for General Electric’s earnings. The highest sales estimate is $18.69 billion and the lowest is $17.92 billion. General Electric reported sales of $17.75 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.2%. The company is scheduled to announce its next earnings report on Wednesday, August 4th.
On average, analysts expect that General Electric will report full-year sales of $77.96 billion for the current financial year, with estimates ranging from $76.56 billion to $80.65 billion. For the next fiscal year, analysts expect that the firm will post sales of $83.23 billion, with estimates ranging from $79.10 billion to $87.90 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for General Electric.
General Electric (NYSE:GE) last posted its quarterly earnings results on Monday, April 26th. The conglomerate reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. General Electric had a net margin of 4.52% and a return on equity of 5.37%. The firm had revenue of $17.12 billion for the quarter, compared to analysts’ expectations of $17.66 billion. During the same period in the prior year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was down 16.6% on a year-over-year basis.
NYSE:GE traded down $0.33 during mid-day trading on Tuesday, reaching $13.12. The company’s stock had a trading volume of 77,047,765 shares, compared to its average volume of 79,238,945. General Electric has a 1 year low of $5.48 and a 1 year high of $14.41. The stock has a fifty day moving average of $13.30 and a 200-day moving average of $11.32. The firm has a market capitalization of $115.18 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 8.61 and a beta of 1.06. The company has a quick ratio of 2.04, a current ratio of 2.31 and a debt-to-equity ratio of 2.10.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 26th. Shareholders of record on Monday, March 8th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, March 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
In other news, Director Paula Rosput Reynolds bought 5,000 shares of General Electric stock in a transaction on Friday, March 12th. The shares were bought at an average price of $12.50 per share, with a total value of $62,500.00. Following the acquisition, the director now directly owns 26,500 shares in the company, valued at approximately $331,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of General Electric during the 4th quarter valued at $714,522,000. FMR LLC increased its position in shares of General Electric by 15.9% during the 4th quarter. FMR LLC now owns 480,790,647 shares of the conglomerate’s stock valued at $5,192,540,000 after purchasing an additional 65,865,371 shares during the period. Viking Global Investors LP acquired a new position in shares of General Electric during the 4th quarter valued at $315,360,000. Bessemer Group Inc. increased its position in shares of General Electric by 9,183.8% during the 4th quarter. Bessemer Group Inc. now owns 13,287,193 shares of the conglomerate’s stock valued at $143,502,000 after purchasing an additional 13,144,071 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of General Electric during the 4th quarter valued at $82,781,000. 60.09% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.
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