Wall Street brokerages expect General Electric (NYSE:GE) to announce earnings of $0.08 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for General Electric’s earnings, with estimates ranging from $0.03 to $0.11. General Electric reported earnings per share of $0.16 during the same quarter last year, which would suggest a negative year-over-year growth rate of 50%. The business is scheduled to issue its next earnings report before the market opens on Tuesday, April 30th.
On average, analysts expect that General Electric will report full year earnings of $0.58 per share for the current year, with EPS estimates ranging from $0.54 to $0.60. For the next year, analysts anticipate that the company will report earnings of $0.59 per share, with EPS estimates ranging from $0.27 to $0.73. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for General Electric.
General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. The company had revenue of $33.28 billion during the quarter, compared to analyst estimates of $32.01 billion.
A number of equities analysts recently weighed in on GE shares. ValuEngine upgraded General Electric from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. Credit Suisse Group reissued a “neutral” rating and issued a $11.00 price objective on shares of General Electric in a research note on Friday, March 8th. Zacks Investment Research raised General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, February 4th. Bank of America reissued a “hold” rating and issued a $11.00 price objective on shares of General Electric in a research note on Thursday, January 31st. Finally, Argus raised General Electric from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $12.39.
In other news, insider Russell Stokes sold 49,904 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.93, for a total transaction of $495,546.72. Following the completion of the sale, the insider now directly owns 265,986 shares of the company’s stock, valued at approximately $2,641,240.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.13% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of GE. FMR LLC raised its stake in shares of General Electric by 61.4% during the 4th quarter. FMR LLC now owns 301,446,675 shares of the conglomerate’s stock worth $2,281,952,000 after purchasing an additional 114,680,188 shares in the last quarter. Norges Bank purchased a new stake in shares of General Electric during the 4th quarter worth about $555,184,000. Harris Associates L P raised its stake in shares of General Electric by 35.1% during the 4th quarter. Harris Associates L P now owns 121,783,710 shares of the conglomerate’s stock worth $921,903,000 after purchasing an additional 31,634,318 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of General Electric by 90.0% during the 4th quarter. Pzena Investment Management LLC now owns 63,363,498 shares of the conglomerate’s stock worth $479,662,000 after purchasing an additional 30,017,912 shares in the last quarter. Finally, Canyon Capital Advisors LLC purchased a new stake in shares of General Electric during the 3rd quarter worth about $200,510,000. 57.72% of the stock is owned by institutional investors.
Shares of NYSE:GE traded down $0.03 during midday trading on Monday, reaching $9.32. The company had a trading volume of 63,495,882 shares, compared to its average volume of 96,614,805. The company has a quick ratio of 1.52, a current ratio of 1.81 and a debt-to-equity ratio of 1.85. General Electric has a 1-year low of $6.66 and a 1-year high of $15.59. The firm has a market capitalization of $81.18 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 3.79 and a beta of 0.99.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, March 8th. General Electric’s dividend payout ratio is currently 6.15%.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
Featured Story: Put Option
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.