General Electric (GE) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS
General Electric (NYSE:GE) posted its quarterly earnings results on Friday. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.01, Analyst Ratings Net reports. The company had revenue of $35.70 billion for the quarter, compared to the consensus estimate of $38.84 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share.
Several analysts have recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of General Electric in a research note to investors on Tuesday, October 8th. On the ratings front, analysts at Barclays raised their price target on shares of General Electric from $26.00 to $27.00 in a research note to investors on Monday, October 7th. They now have an “overweight” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. initiated coverage on shares of General Electric in a research note to investors on Monday, October 7th. They set a “neutral” rating and a $26.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. General Electric currently has a consensus rating of “Buy” and an average target price of $27.64.
General Electric (NYSE:GE) opened at 24.68 on Friday. General Electric has a 52-week low of $19.87 and a 52-week high of $24.95. The stock has a 50-day moving average of $23.94 and a 200-day moving average of $23.57. The company has a market cap of $251.3 billion and a price-to-earnings ratio of 18.27. General Electric also saw some unusual options trading on Thursday. Investors purchased 119,752 call options on the company. This is an increase of 269% compared to the typical daily volume of 32,461 call options.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 25th. Investors 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 3.08%. The ex-dividend date of this dividend is Thursday, September 19th.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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