General Electric Rating Lowered to Market Perform at Oppenheimer (GE)
General Electric (NYSE:GE) was downgraded by stock analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a report issued on Friday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
General Electric (NYSE:GE) opened at 27.50 on Friday. General Electric has a 1-year low of $20.68 and a 1-year high of $28.09. The stock’s 50-day moving average is $27.09 and its 200-day moving average is $25.00. The company has a market cap of $278.2 billion and a price-to-earnings ratio of 20.68.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 18th. The company reported $0.36 earnings per share for the quarter, missing the analysts’ 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 prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts predict that General Electric will post $1.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, January 27th. Shareholders of record on Monday, December 23rd will be given a dividend of 0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, December 19th. This is a positive change from General Electric’s previous quarterly dividend of $0.19.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of General Electric in a research note to investors on Thursday, December 26th. Separately, analysts at Merrill Lynch reiterated a “buy” rating on shares of General Electric in a research note to investors on Thursday, December 12th. They now have a $30.00 price target on the stock, up previously from $29.00. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. General Electric has an average rating of “Hold” and a consensus price target of $27.30.
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.