Wall Street analysts predict that General Electric (NYSE:GE – Get Rating) will report $0.43 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for General Electric’s earnings. The lowest EPS estimate is $0.31 and the highest is $0.63. General Electric posted earnings of $0.40 per share in the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that General Electric will report full year earnings of $2.90 per share for the current fiscal year, with EPS estimates ranging from $2.20 to $3.42. For the next financial year, analysts forecast that the company will report earnings of $4.68 per share, with EPS estimates ranging from $3.30 to $5.65. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for General Electric.
General Electric (NYSE:GE – Get Rating) last released its earnings results on Tuesday, April 26th. The conglomerate reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $17.04 billion during the quarter, compared to analyst estimates of $16.92 billion. General Electric had a positive return on equity of 6.41% and a negative net margin of 6.43%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 earnings per share.
General Electric stock opened at $78.23 on Wednesday. The firm has a market capitalization of $86.11 billion, a P/E ratio of -17.08, a PEG ratio of 3.83 and a beta of 1.02. The stock has a fifty day moving average price of $89.37 and a 200 day moving average price of $95.59. General Electric has a 52 week low of $72.61 and a 52 week high of $116.17. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.71.
The business also recently announced a quarterly dividend, which was paid on Monday, April 25th. Stockholders of record on Tuesday, March 8th were paid a $0.08 dividend. 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 dividend payout ratio (DPR) is currently -6.99%.
In other General Electric 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 price of $75.00 per share, with a total value of $270,075.00. Following the completion of the acquisition, the senior vice president now owns 3,601 shares of the company’s stock, valued at approximately $270,075. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lawrence Culp, Jr. purchased 65,000 shares of General Electric stock in a transaction that occurred on Monday, May 2nd. The stock was acquired at an average cost of $74.53 per share, with a total value of $4,844,450.00. Following the acquisition, the chief executive officer now directly owns 211,210 shares of the company’s stock, valued at approximately $15,741,481.30. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Research Global Investors lifted its holdings in General Electric by 39.4% during the 4th 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 during the last quarter. Norges Bank bought a new position in General Electric during the 4th quarter worth approximately $698,826,000. Adage Capital Partners GP L.L.C. lifted its holdings in General Electric by 144.2% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 4,766,164 shares of the conglomerate’s stock worth $450,260,000 after buying an additional 2,814,259 shares during the last quarter. Morgan Stanley lifted its holdings in shares of General Electric by 5.7% in the 2nd quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate’s stock worth $556,497,000 after purchasing an additional 2,238,808 shares during the last quarter. Finally, National Pension Service bought a new stake in shares of General Electric in the 3rd quarter worth approximately $149,257,000. 67.37% of the stock is owned by hedge funds and other institutional investors.
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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