General Electric’s “Neutral” Rating Reaffirmed at Zacks (GE)
General Electric (NYSE:GE)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Monday, Stock Ratings News reports. They currently have a $28.00 price target on the stock. Zacks‘ target price suggests a potential upside of 5.34% from the company’s current price.
Zacks‘ analyst wrote, “General Electric reported lackluster fourth quarter 2013 results with operating earnings in line with the Zacks Consensus Estimate. With a diligent execution of its strategic plans, focus on core businesses, and stringent cost-cutting measures, General Electric is likely to improve in the coming quarters. The company generates a strong cash flow that allows management to invest in product innovations, acquisitions, and business development to fuel both organic and inorganic growth. However, GE Capital’s loan defaults are likely to be a drag on the company’s profitability. In addition, muted 2014 outlook and a huge backlog of equipment and services increase operating risks amid a challenging macroeconomic environment. We maintain our Neutral recommendation for the stock. “
General Electric (NYSE:GE) traded down 2.28% during mid-day trading on Monday, hitting $26.58. The stock had a trading volume of 97,353,040 shares. General Electric has a 52 week low of $21.11 and a 52 week high of $28.09. The stock has a 50-day moving average of $27.13 and a 200-day moving average of $25.29. The company has a market cap of $268.2 billion and a price-to-earnings ratio of 19.99. General Electric also was the recipient of unusually large options trading on Friday. Traders purchased 57,215 put options on the stock. This represents an increase of approximately 199% compared to the average volume of 19,140 put options.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, January 17th. The company reported $0.53 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.53. The company had revenue of $40.40 billion for the quarter, compared to the consensus estimate of $40.22 billion. During the same quarter last year, the company posted $0.44 earnings per share. General Electric’s revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that General Electric will post $1.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, January 27th. Shareholders of record on Monday, December 23rd will be paid a dividend of 0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Thursday, December 19th. This is a positive change from General Electric’s previous quarterly dividend of $0.19.
A number of other firms have also recently commented on GE. Analysts at TheStreet reiterated a “buy” rating on shares of General Electric in a research note to investors on Monday, January 13th. Separately, analysts at Oppenheimer downgraded shares of General Electric from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, January 3rd. They now have a $29.00 price target on the stock. They noted that the move was a valuation call. One 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. The company currently has an average rating of “Hold” and a consensus price target of $27.45.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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