General Electric (NYSE:GE) Expected to Post Quarterly Sales of $17.17 Billion

Analysts expect General Electric (NYSE:GEGet Rating) to report sales of $17.17 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for General Electric’s earnings, with estimates ranging from $16.68 billion to $17.82 billion. General Electric reported sales of $17.12 billion in the same quarter last year, which indicates a positive year over year growth rate of 0.3%. The company is expected to report its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that General Electric will report full-year sales of $77.45 billion for the current year, with estimates ranging from $75.20 billion to $80.39 billion. For the next financial year, analysts expect that the firm will report sales of $83.87 billion, with estimates ranging from $78.02 billion to $87.23 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow General Electric.

General Electric (NYSE:GEGet Rating) last released its quarterly earnings results on Tuesday, January 25th. The conglomerate reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.09. The business had revenue of $20.30 billion during the quarter, compared to analyst estimates of $21.32 billion. General Electric had a negative net margin of 8.80% and a positive return on equity of 6.62%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share.

A number of equities analysts have issued reports on GE shares. Barclays reduced their price target on shares of General Electric from $116.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, March 29th. Credit Suisse Group reduced their price target on General Electric from $122.00 to $116.00 and set an “outperform” rating on the stock in a report on Monday, March 7th. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $94.00 price objective on the stock in a report on Monday, March 7th. Sanford C. Bernstein initiated coverage on shares of General Electric in a report on Monday, January 10th. They issued an “outperform” rating and a $120.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $107.00 to $118.00 and gave the company a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $120.20.

GE stock opened at $90.83 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.28 and a quick ratio of 0.97. The firm has a 50-day simple moving average of $93.42 and a two-hundred day simple moving average of $97.80. General Electric has a one year low of $85.29 and a one year high of $116.17.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 25th. Stockholders of record on Tuesday, March 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Monday, March 7th. General Electric’s dividend payout ratio is presently -5.14%.

Several institutional investors have recently made changes to their positions in the company. Capital Research Global Investors grew its position in shares of General Electric by 39.4% during the fourth quarter. Capital Research Global Investors now owns 53,968,728 shares of the conglomerate’s stock worth $5,098,427,000 after buying an additional 15,251,142 shares in the last quarter. State Street Corp grew its position in shares of General Electric by 0.6% during the fourth quarter. State Street Corp now owns 43,496,942 shares of the conglomerate’s stock worth $4,112,580,000 after buying an additional 255,566 shares in the last quarter. Morgan Stanley grew its position in shares of General Electric by 5.7% during the second quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate’s stock worth $556,497,000 after buying an additional 2,238,808 shares in the last quarter. Geode Capital Management LLC grew its position in shares of General Electric by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 17,674,014 shares of the conglomerate’s stock worth $1,664,776,000 after buying an additional 513,385 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in General Electric by 8.4% in the fourth quarter. Pzena Investment Management LLC now owns 11,033,492 shares of the conglomerate’s stock valued at $1,042,334,000 after purchasing an additional 852,849 shares in the last quarter. 70.28% of the stock is owned by institutional investors and hedge funds.

About General Electric (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.

Recommended Stories

Get a free copy of the Zacks research report on General Electric (GE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.