General Electric’s Buy Rating Reaffirmed at TheStreet (GE)
General Electric (NYSE:GE)‘s stock had its “buy” rating reaffirmed by research analysts at TheStreet in a report released on Thursday, American Banking News.com reports.
The analysts wrote, “General Electric (GE) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its notable return on equity, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
A number of other analysts have also recently weighed in on GE. Analysts at Zacks reiterated a “neutral” rating on shares of General Electric in a research note to investors on Monday. They now have a $28.00 price target on the stock. 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. Finally, 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $27.66.
Shares of General Electric (NYSE:GE) opened at 25.72 on Thursday. General Electric has a 1-year low of $21.11 and a 1-year high of $28.09. The stock’s 50-day moving average is $27.12 and its 200-day moving average is $25.35. The company has a market cap of $260.2 billion and a P/E ratio of 19.54.
General Electric (NYSE:GE) last announced its earnings results on Friday, January 17th. The company reported $0.53 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 3.1% 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 announced a quarterly dividend, which is scheduled for Monday, January 27th. Stockholders 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 3.39%. The ex-dividend date is Thursday, December 19th. This is a boost from General Electric’s previous quarterly dividend of $0.19.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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