General Electric Company (NYSE:GE) to Post Q3 2017 Earnings of $0.50 Per Share, Oppenheimer Holdings Forecasts
General Electric Company (NYSE:GE) – Analysts at Oppenheimer Holdings lowered their Q3 2017 earnings estimates for shares of General Electric in a report released on Monday. Oppenheimer Holdings analyst C. Glynn now forecasts that the conglomerate will post earnings per share of $0.50 for the quarter, down from their prior forecast of $0.53. Oppenheimer Holdings currently has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for General Electric’s Q4 2017 earnings at $0.58 EPS, FY2017 earnings at $1.57 EPS and FY2018 earnings at $1.75 EPS.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.60% and a net margin of 6.45%. The business had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. During the same period last year, the business posted $0.51 EPS. The business’s revenue was down 11.8% compared to the same quarter last year.
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Several other research firms also recently issued reports on GE. Stifel Nicolaus upped their price objective on shares of General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Deutsche Bank AG set a $24.00 target price on shares of General Electric and gave the stock a “sell” rating in a research note on Monday, May 29th. Vetr downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 target price for the company. in a research note on Thursday, May 11th. J P Morgan Chase & Co reiterated an “underweight” rating on shares of General Electric in a research note on Monday, April 3rd. Finally, Royal Bank Of Canada decreased their target price on shares of General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, April 24th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $30.25.
General Electric (NYSE:GE) opened at 25.44 on Wednesday. The stock has a market capitalization of $220.59 billion, a P/E ratio of 30.99 and a beta of 1.22. General Electric has a one year low of $25.26 and a one year high of $32.38. The stock has a 50 day moving average price of $27.35 and a 200-day moving average price of $29.04. General Electric also was the target of unusually large options trading on Monday. Traders acquired 68,897 call options on the company. This is an increase of approximately 116% compared to the typical daily volume of 31,959 call options.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.77%. General Electric’s dividend payout ratio (DPR) is 118.52%.
In other General Electric news, Chairman Jeffrey R. Immelt bought 100,000 shares of the stock in a transaction on Monday, May 15th. The stock was purchased at an average price of $28.07 per share, with a total value of $2,807,000.00. Following the completion of the purchase, the chairman now owns 2,561,926 shares in the company, valued at $71,913,262.82. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William G. Beattie bought 16,000 shares of the stock in a transaction on Monday, May 15th. The shares were acquired at an average cost of $28.05 per share, with a total value of $448,800.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 147,425 shares of company stock valued at $4,065,938. Company insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GE. BerganKDV Wealth Management LLC raised its stake in General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock worth $319,000 after buying an additional 36 shares during the last quarter. Puplava Financial Services Inc. raised its stake in shares of General Electric by 0.4% in the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock valued at $303,000 after buying an additional 41 shares in the last quarter. Northwest Wealth Management LLC raised its stake in shares of General Electric by 0.8% in the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after buying an additional 75 shares in the last quarter. Insight 2811 Inc. raised its stake in shares of General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock valued at $1,126,000 after buying an additional 118 shares in the last quarter. Finally, Blue Fin Capital Inc. raised its stake in shares of General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock valued at $1,668,000 after buying an additional 158 shares in the last quarter. 54.25% of the stock is owned by institutional investors.
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