General Electric (GE) Scheduled to Post Earnings on Tuesday

General Electric (NYSE:GE) is scheduled to post its quarterly earnings results before the market opens on Tuesday, April 23rd. Analysts expect General Electric to post earnings of $0.64 per share for the quarter. General Electric has set its Q1 guidance at $0.60-0.65 EPS and its Q1 2024 guidance at 0.600-0.650 EPS.Parties interested in listening to the company’s conference call can do so using this link.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating the consensus estimate of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $17.27 billion. During the same quarter in the previous year, the business posted $1.24 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, analysts expect General Electric to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

General Electric Stock Down 0.6 %

Shares of GE stock opened at $153.71 on Tuesday. General Electric has a 12 month low of $76.38 and a 12 month high of $158.68. The firm has a market cap of $168.05 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. The stock has a 50 day moving average of $158.14 and a 200-day moving average of $133.49. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.73%. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, April 12th. General Electric’s dividend payout ratio is 13.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GE shares. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company decreased their target price on General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Oppenheimer reissued a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Bank of America decreased their price objective on General Electric from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Finally, Barclays cut their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $160.07.

Insiders Place Their Bets

In related news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Several institutional investors have recently bought and sold shares of the business. Aspect Partners LLC acquired a new stake in General Electric in the 4th quarter valued at about $25,000. Dagco Inc. acquired a new stake in General Electric in the 4th quarter valued at about $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $29,000. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of General Electric by 808.1% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after buying an additional 299 shares during the last quarter. Finally, Financial Freedom LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $32,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It 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.