Brokers Set Expectations for General Electric’s Q2 2022 Earnings (NYSE:GE)

General Electric (NYSE:GEGet Rating) – Stock analysts at William Blair cut their Q2 2022 earnings estimates for General Electric in a research note issued to investors on Tuesday, April 26th. William Blair analyst N. Heymann now forecasts that the conglomerate will post earnings of $0.39 per share for the quarter, down from their prior forecast of $0.68. William Blair also issued estimates for General Electric’s Q3 2022 earnings at $0.96 EPS, Q4 2022 earnings at $1.36 EPS, FY2022 earnings at $2.95 EPS and FY2023 earnings at $4.20 EPS.

Several other equities analysts have also recently commented on GE. Credit Suisse Group cut their target price on shares of General Electric from $113.00 to $102.00 in a research note on Wednesday. Bank of America decreased their target price on General Electric from $132.00 to $120.00 in a research report on Wednesday. Morgan Stanley reduced their price objective on General Electric from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, February 1st. Wells Fargo & Company lowered their price objective on General Electric from $105.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 26th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $124.00 price objective on shares of General Electric in a research note on Wednesday, January 26th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $118.63.

Shares of GE stock opened at $77.73 on Friday. The stock has a 50 day moving average of $91.35 and a 200-day moving average of $96.67. The firm has a market cap of $85.45 billion, a PE ratio of -12.48, a price-to-earnings-growth ratio of 4.14 and a beta of 0.96. The company has a quick ratio of 0.97, a current ratio of 1.28 and a debt-to-equity ratio of 0.74. General Electric has a 12 month low of $75.85 and a 12 month high of $116.17.

General Electric (NYSE:GEGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. General Electric had a positive return on equity of 6.62% and a negative net margin of 8.80%. The company had revenue of $17.04 billion for the quarter, compared to the consensus estimate of $16.92 billion. During the same period last year, the business posted $0.24 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 25th. Stockholders of record on Tuesday, March 8th were given a dividend of $0.08 per share. The ex-dividend date was Monday, March 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. General Electric’s payout ratio is currently -5.14%.

Large investors have recently made changes to their positions in the business. Alphastar Capital Management LLC boosted its stake in General Electric by 2.5% in the first quarter. Alphastar Capital Management LLC now owns 12,677 shares of the conglomerate’s stock valued at $1,160,000 after acquiring an additional 308 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of General Electric by 6.3% during the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 32,596 shares of the conglomerate’s stock worth $2,983,000 after purchasing an additional 1,936 shares during the period. CKW Financial Group increased its holdings in General Electric by 21.2% in the first quarter. CKW Financial Group now owns 862 shares of the conglomerate’s stock valued at $80,000 after purchasing an additional 151 shares during the last quarter. OLD Point Trust & Financial Services N A lifted its stake in General Electric by 6.1% in the first quarter. OLD Point Trust & Financial Services N A now owns 13,324 shares of the conglomerate’s stock valued at $1,219,000 after buying an additional 768 shares during the period. Finally, GHP Investment Advisors Inc. acquired a new position in shares of General Electric during the 1st quarter worth about $96,000. 70.28% of the stock is owned by hedge funds and other institutional investors.

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

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