General Electric Company (GE) Expected to Post Quarterly Sales of $31.94 Billion
Equities analysts expect General Electric Company (NYSE:GE) to report $31.94 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for General Electric’s earnings, with estimates ranging from $28.87 billion to $34.36 billion. General Electric posted sales of $29.27 billion during the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The firm is scheduled to report its next quarterly earnings report on Friday, October 20th.
According to Zacks, analysts expect that General Electric will report full-year sales of $31.94 billion for the current fiscal year, with estimates ranging from $118.96 billion to $126.87 billion. For the next financial year, analysts expect that the business will post sales of $131.31 billion per share, with estimates ranging from $123.98 billion to $137.28 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover General Electric.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share.
Several equities analysts have recently weighed in on GE shares. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $30.43 price objective for the company in a research report on Thursday, April 27th. Stifel Nicolaus raised their price objective on shares of General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Credit Suisse Group restated a “buy” rating and set a $34.00 price objective on shares of General Electric in a research report on Tuesday, April 11th. Argus reduced their price objective on shares of General Electric from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, April 24th. Finally, Citigroup Inc. restated a “buy” rating and set a $34.00 price objective (down previously from $36.00) on shares of General Electric in a research report on Monday, July 10th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.08.
General Electric (NYSE:GE) opened at 25.63 on Tuesday. General Electric has a 52-week low of $25.26 and a 52-week high of $32.38. The stock has a 50 day moving average of $26.94 and a 200-day moving average of $28.78. The firm has a market cap of $221.90 billion, a price-to-earnings ratio of 31.22 and a beta of 1.21.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.75%. The ex-dividend date was Thursday, June 15th. General Electric’s payout ratio is presently 118.52%.
In other General Electric news, Director William G. Beattie acquired 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average price of $27.70 per share, with a total value of $110,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jeffrey R. Immelt acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $28.07 per share, for a total transaction of $2,807,000.00. Following the transaction, the chairman now owns 2,561,926 shares of the company’s stock, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 149,270 shares of company stock worth $4,113,059. Insiders own 0.36% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Gratus Capital LLC increased its position in shares of General Electric by 118.9% in the fourth quarter. Gratus Capital LLC now owns 287,547 shares of the conglomerate’s stock valued at $9,086,000 after buying an additional 156,217 shares during the period. Zurich Insurance Group Ltd FI increased its position in shares of General Electric by 12.6% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 1,415,110 shares of the conglomerate’s stock valued at $44,717,000 after buying an additional 158,689 shares during the period. Envestnet Asset Management Inc. increased its position in shares of General Electric by 2.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 703,750 shares of the conglomerate’s stock valued at $22,229,000 after buying an additional 15,256 shares during the period. Tyers Asset Management LLC bought a new position in shares of General Electric during the fourth quarter valued at approximately $2,007,000. Finally, Parallel Advisors LLC bought a new position in shares of General Electric during the fourth quarter valued at approximately $3,416,000. Institutional investors own 54.29% of the company’s stock.
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