General Electric Company Given Consensus Rating of “Buy” by Analysts (NYSE:GE)
Shares of General Electric Company (NYSE:GE) have received a consensus rating of “Buy” from the fifteen brokerages that are covering the company, AmericanBankingNews.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $29.31.
Shares of General Electric Company (NYSE:GE) traded down 0.35% on Friday, hitting $25.87. The stock had a trading volume of 2,789,540 shares. General Electric Company has a 1-year low of $22.96 and a 1-year high of $28.09. The stock has a 50-day moving average of $25.8 and a 200-day moving average of $26.15. The company has a market cap of $259.6 billion and a P/E ratio of 20.38. General Electric Company also was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 71,441,488 shares, an increase of 6.3% from the July 31st total of 67,205,943 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 29,421,496 shares, the short-interest ratio is presently 2.4 days.
General Electric Company (NYSE:GE) last posted its quarterly earnings results on Friday, July 18th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $36.20 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that General Electric Company will post $1.68 EPS for the current fiscal year.
GE has been the subject of a number of recent research reports. Analysts at Credit Suisse initiated coverage on shares of General Electric Company in a research note on Monday, August 18th. They set an “outperform” rating and a $30.00 price target on the stock. Separately, analysts at Sanford C. Bernstein upgraded shares of General Electric Company from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 5th. They now have a $33.00 price target on the stock, up previously from $29.00. Finally, analysts at Bernstein upgraded shares of General Electric Company from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 5th. They now have a $33.00 price target on the stock, up previously from $29.00.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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