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

Analysts expect General Electric (NYSE:GE – Get 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:GE – Get 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.

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