General Electric (GE) Announces Quarterly Earnings, Hits Estimates
General Electric (NYSE:GE) posted its quarterly earnings results on Friday. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39, AnalystRatingsNetwork reports. The company had revenue of $36.20 billion for the quarter, compared to the consensus estimate of $36.31 billion.
General Electric (NYSE:GE) opened at 26.61 on Friday. General Electric has a 52 week low of $22.92 and a 52 week high of $28.09. The stock’s 50-day moving average is $26.73 and its 200-day moving average is $26.22. The company has a market cap of $266.8 billion and a price-to-earnings ratio of 22.22. General Electric also saw unusually large options trading activity on Wednesday. Stock traders acquired 90,253 call options on the stock. This represents an increase of 172% compared to the average volume of 33,188 call options.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 25th. Stockholders 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 3.31%. The ex-dividend date of this dividend is Thursday, June 19th.
Several analysts have recently commented on the stock. 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 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 stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.50.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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