Investors Buy High Volume of Call Options on General Electric (GE)
General Electric (NYSE:GE) was the recipient of some unusual options trading on Wednesday. Traders bought 182,357 call options on the company, Analyst Ratings Network reports. This represents an increase of 481% compared to the average daily volume of 31,391 call options.
A number of research firms have recently commented on GE. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of General Electric in a research note on Tuesday. They now have a $100.00 price target on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of General Electric in a research note on Monday, April 21st. They now have a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $34.00.
Shares of General Electric (NYSE:GE) traded up 0.07% on Wednesday, hitting $26.89. 26,201,854 shares of the company’s stock traded hands. General Electric has a one year low of $22.76 and a one year high of $28.09. The stock has a 50-day moving average of $26.74 and a 200-day moving average of $26.28. The company has a market cap of $269.6 billion and a P/E ratio of 22.10.
General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.01. The company had revenue of $34.18 billion for the quarter, compared to the consensus estimate of $34.45 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. On average, analysts predict that General Electric will post $1.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, July 25th. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Thursday, June 19th.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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