William Blair Analysts Decrease Earnings Estimates for General Electric Co. (GE)
General Electric Co. (NYSE:GE) – William Blair reduced their Q3 2016 earnings estimates for General Electric in a research note issued on Thursday. William Blair analyst N. Heymann now expects that the firm will earn $0.32 per share for the quarter, down from their previous forecast of $0.34. William Blair has a “Buy” rating and a $38.00 price target on the stock. William Blair also issued estimates for General Electric’s Q4 2016 earnings at $0.52 EPS.
Several other brokerages have also recently issued reports on GE. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $31.67 price objective for the company in a research note on Thursday, July 21st. Standpoint Research assumed coverage on shares of General Electric in a research note on Friday, July 22nd. They set a “sell” rating and a $26.00 price objective for the company. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Credit Suisse Group AG reissued a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Finally, Citigroup Inc. reissued a “buy” rating and set a $36.00 price objective on shares of General Electric in a research note on Monday, July 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $32.79.
Shares of General Electric (NYSE:GE) opened at 28.89 on Monday. The firm has a 50-day moving average price of $29.97 and a 200-day moving average price of $30.69. The firm has a market capitalization of $258.89 billion, a PE ratio of 24.42 and a beta of 1.15. General Electric has a 1-year low of $27.10 and a 1-year high of $33.00.
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General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The company had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. During the same period last year, the firm earned $0.31 earnings per share. General Electric’s quarterly revenue was up 14.6% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the company. Catamount Wealth Management boosted its position in General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock valued at $110,000 after buying an additional 901 shares during the period. Cable Hill Partners LLC boosted its position in General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock valued at $141,000 after buying an additional 19 shares during the period. Global X Management Co. LLC boosted its position in General Electric by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock valued at $159,000 after buying an additional 1,868 shares during the period. New Harbor Financial Group LLC boosted its position in General Electric by 46.0% in the third quarter. New Harbor Financial Group LLC now owns 5,828 shares of the company’s stock valued at $172,000 after buying an additional 1,837 shares during the period. Finally, James Investment Research Inc. boosted its position in General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock valued at $184,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 55.81% of the company’s stock.
In other General Electric news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were purchased at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the purchase, the chairman now directly owns 2,198,688 shares in the company, valued at $69,148,737.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 annualized dividend and a yield of 3.18%. General Electric’s dividend payout ratio (DPR) is 77.97%.
General Electric Company Profile
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