Wall Street analysts expect General Electric (NYSE:GE – Get Rating) to announce $18.07 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for General Electric’s earnings, with the highest sales estimate coming in at $18.47 billion and the lowest estimate coming in at $17.27 billion. General Electric reported sales of $18.28 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.1%. The company is scheduled to issue its next earnings results on Monday, January 1st.
On average, analysts expect that General Electric will report full-year sales of $76.68 billion for the current financial year, with estimates ranging from $75.90 billion to $77.33 billion. For the next fiscal year, analysts anticipate that the company will post sales of $83.12 billion, with estimates ranging from $80.54 billion to $85.06 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow General Electric.
General Electric (NYSE:GE – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $17.04 billion for the quarter, compared to analysts’ expectations of $16.92 billion. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS.
GE has been the topic of a number of analyst reports. Credit Suisse Group lowered their target price on shares of General Electric from $113.00 to $102.00 in a research note on Wednesday, April 27th. StockNews.com assumed coverage on General Electric in a report on Thursday, March 31st. They set a “hold” rating for the company. Bank of America dropped their target price on General Electric from $132.00 to $120.00 in a report on Wednesday, April 27th. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating and set a $94.00 target price for the company in a report on Monday, March 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $118.00 to $107.00 in a research note on Wednesday, April 27th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $115.67.
Shares of General Electric stock opened at $77.01 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.19 and a quick ratio of 0.88. General Electric has a 1-year low of $71.14 and a 1-year high of $116.17. The company’s fifty day simple moving average is $84.55 and its 200-day simple moving average is $92.57. The stock has a market capitalization of $84.76 billion, a PE ratio of -16.81, a P/E/G ratio of 3.82 and a beta of 1.02.
In related news, SVP John S. Slattery purchased 3,601 shares of General Electric stock in a transaction that occurred on Monday, May 2nd. The stock was purchased at an average cost of $75.00 per share, with a total value of $270,075.00. Following the completion of the transaction, the senior vice president now directly owns 3,601 shares in the company, valued at $270,075. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paula Rosput Reynolds acquired 1,200 shares of the company’s stock in a transaction on Friday, May 6th. The stock was acquired at an average price of $77.65 per share, for a total transaction of $93,180.00. Following the completion of the purchase, the director now owns 5,563 shares of the company’s stock, valued at approximately $431,966.95. The disclosure for this purchase can be found here. Insiders purchased 69,801 shares of company stock valued at $5,207,705 in the last three months. 0.70% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in GE. Vanguard Group Inc. grew its position in General Electric by 2.4% during the first quarter. Vanguard Group Inc. now owns 84,152,605 shares of the conglomerate’s stock valued at $7,699,963,000 after acquiring an additional 1,937,915 shares during the period. Capital Research Global Investors grew its position in General Electric by 42.9% during the first quarter. Capital Research Global Investors now owns 77,124,340 shares of the conglomerate’s stock valued at $7,056,906,000 after acquiring an additional 23,155,612 shares during the period. State Street Corp grew its position in General Electric by 0.6% during the fourth quarter. State Street Corp now owns 43,496,942 shares of the conglomerate’s stock valued at $4,112,580,000 after acquiring an additional 255,566 shares during the period. Morgan Stanley grew its position in General Electric by 5.7% during the second quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate’s stock valued at $556,497,000 after acquiring an additional 2,238,808 shares during the period. Finally, Geode Capital Management LLC grew its position in General Electric by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 17,674,014 shares of the conglomerate’s stock valued at $1,664,776,000 after acquiring an additional 513,385 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.
General Electric Company Profile (Get Rating)
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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