Short Interest in General Electric Grows By 5.9% (GE)
General Electric (NYSE:GE) was the recipient of a large growth in short interest during the month of June. As of June 13th, there was short interest totalling 69,368,486 shares, a growth of 5.9% from the May 30th total of 65,480,818 shares, AnalystRatingsNetwork reports. Based on an average trading volume of 23,425,152 shares, the days-to-cover ratio is presently 3.0 days. Currently, 0.7% of the company’s stock are sold short.
A number of research firms have recently commented on GE. Analysts at Goldman Sachs downgraded shares of General Electric from a “conviction-buy” rating to a “neutral” rating in a research note on Monday, June 23rd. 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 analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.50.
General Electric (NYSE:GE) opened at 26.86 on Monday. General Electric has a 52 week low of $22.92 and a 52 week high of $28.09. The stock has a 50-day moving average of $26.73 and a 200-day moving average of $26.28. The company has a market cap of $269.3 billion and a P/E ratio of 21.88.
General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.33 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.39 earnings per share. General Electric’s revenue was down 2.2% compared to the same quarter last year. On average, analysts predict that General Electric will post $1.70 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 25th. Shareholders of record on Monday, June 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 3.28%. The ex-dividend date of this dividend is Thursday, June 19th.
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.