TheStreet Reiterates Buy Rating for General Electric (GE)
General Electric (NYSE:GE)‘s stock had its “buy” rating reiterated by analysts at TheStreet in a research report issued to clients and investors on Thursday, AR Network reports.
The analysts wrote, “General Electric (GE) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its expanding profit margins, increase in stock price during the past year, notable return on equity and increase in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
General Electric (NYSE:GE) traded up 0.21% during mid-day trading on Thursday, hitting $24.28. The stock had a trading volume of 8,657,339 shares. General Electric has a 52-week low of $19.87 and a 52-week high of $24.95. The stock’s 50-day moving average is $23.84 and its 200-day moving average is $23.48. The company has a market cap of $247.3 billion and a P/E ratio of 17.93.
General Electric (NYSE:GE) last released its earnings data on Friday, July 19th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $35.12 billion for the quarter, compared to the consensus estimate of $35.58 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts predict that General Electric will post $1.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 25th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, September 19th.
A number of other firms have also recently commented on GE. Analysts at Argus reiterated a “buy” rating on shares of General Electric (NYSE:GE) in a research note to investors on Wednesday, September 11th. They now have a $28.00 price target on the stock. Separately, analysts at Sanford C. Bernstein raised their price target on shares of General Electric (NYSE:GE) from $25.00 to $26.00 in a research note to investors on Tuesday, August 13th. They now have a “market perform” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of General Electric (NYSE:GE) from $25.00 to $27.00 in a research note to investors on Tuesday, July 23rd. They now have an “outperform” rating on the stock. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.73.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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