General Electric Now Covered by Goldman Sachs Group Inc. (GE)
Goldman Sachs Group Inc. initiated coverage on shares of General Electric (NYSE:GE) in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $26.00 price target on the stock. Goldman Sachs Group Inc.’s price objective suggests a potential upside of 8.11% from the company’s current price.
The analysts wrote, “We resume coverage of General Electric (GE) with a Neutral rating and $26, 12-month price target. Our view is based on limited upside to 2013/2014 EPS coupled with a balanced risk/reward at this time. Specifically, we believe the 2013 margin targets are aggressive and a lower asset base at Capital will weigh on 2014 growth. Over the long term, we like GE’s position in attractive markets, simplification efforts and actions since the global financial crisis to make Capital stronger/safer. However, while GE appears well on its way to achieving its ENI reduction targets, we believe more can be done to improve its returns/ growth profile, making it a more attractive investment longer-term.”
GE has been the subject of a number of other recent research reports. Analysts at Bank of America Corp. reiterated a “buy” rating on shares of General Electric in a research note to investors on Wednesday, October 2nd. They now have a $24.17 price target on the stock, down previously from $26.00. Separately, analysts at TheStreet reiterated a “buy” rating on shares of General Electric in a research note to investors on Thursday, September 26th. Finally, analysts at TheStreet reiterated a “buy” rating on shares of General Electric in a research note to investors on Wednesday, September 11th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $27.57.
General Electric (NYSE:GE) traded down 0.44% on Monday, hitting $23.943. 5,966,638 shares of the company’s stock traded hands. 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. and its 200-day moving average is $23.51. The company has a market cap of $243.8 billion and a price-to-earnings ratio of 17.80.
General Electric (NYSE:GE) last released its earnings data on Friday, July 19th. The company reported $0.36 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.38 earnings per share. General Electric’s revenue was down 3.5% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 25th. Shareholders 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 3.16%. The ex-dividend date of this dividend is Thursday, September 19th.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.