General Electric PT Raised to $29.00 (GE)
Research analysts at Argus increased their price objective on shares of General Electric (NYSE:GE) from $28.00 to $29.00 in a report released on Monday, Analyst RN reports. The firm currently has a “buy” rating on the stock. Argus’ price objective would indicate a potential upside of 13.50% from the company’s current price.
Shares of General Electric (NYSE:GE) opened at 25.55 on Monday. General Electric has a 1-year low of $19.87 and a 1-year high of $25.75. The stock’s 50-day moving average is $24.03 and its 200-day moving average is $23.59. The company has a market cap of $259.4 billion and a P/E ratio of 19.21.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 18th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.01. 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. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts expect that General Electric will post $1.64 EPS 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 2.97%. The ex-dividend date of this dividend is Thursday, September 19th.
A number of other analysts have also recently weighed in on GE. Analysts at TheStreet reiterated a “buy” rating on shares of General Electric in a research note to investors on Tuesday, October 8th. Separately, 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 research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.70.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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