General Electric (GE) Releases Quarterly Earnings Results
General Electric (NYSE:GE) issued its quarterly earnings data on Friday. The company reported $0.36 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.37 by $0.01, StockRatingsNetwork 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 last year, the company posted $0.36 earnings per share.
GE has been the subject of a number of recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of General Electric in a research note to investors on Tuesday, October 8th. On a related note, 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 company’s stock. General Electric presently has an average rating of “Buy” and a consensus price target of $27.64.
Shares of General Electric (NYSE:GE) opened at 24.68 on Friday. General Electric has a one year low of $19.87 and a one year 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 was the recipient of some unusual options trading activity on Thursday. Traders bought 119,752 call options on the stock. This represents an increase of approximately 269% compared to the average daily volume of 32,461 call options.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Thursday, September 19th.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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