General Electric Company (GE) Expected to Announce Quarterly Sales of $31.87 Billion
Equities analysts expect General Electric Company (NYSE:GE) to post $31.87 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for General Electric’s earnings, with the highest sales estimate coming in at $34.36 billion and the lowest estimate coming in at $28.87 billion. General Electric posted sales of $29.27 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 8.9%. The business is expected to report its next quarterly earnings results before the market opens on Friday, October 20th.
According to Zacks, analysts expect that General Electric will report full-year sales of $31.87 billion for the current year, with estimates ranging from $118.96 billion to $126.44 billion. For the next fiscal year, analysts forecast that the company will report sales of $130.60 billion per share, with estimates ranging from $123.98 billion to $135.45 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for General Electric.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The business’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share.
GE has been the subject of a number of analyst reports. Deutsche Bank AG set a $24.00 price target on General Electric and gave the company a “sell” rating in a research report on Saturday, May 20th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price target for the company. in a research report on Tuesday, July 4th. Morgan Stanley restated an “equal weight” rating and issued a $26.00 price target (down from $27.00) on shares of General Electric in a research report on Monday, July 24th. BidaskClub lowered General Electric from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the company a “sell” rating in a research report on Monday, July 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $29.65.
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In related news, insider Alexander Dimitrief acquired 1,845 shares of General Electric stock in a transaction dated Monday, July 24th. The shares were acquired at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the purchase, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the sale, the insider now owns 175,717 shares in the company, valued at $4,507,141.05. The disclosure for this sale can be found here. Over the last quarter, insiders bought 233,253 shares of company stock worth $5,860,264. Insiders own 0.36% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Sabal Trust CO raised its stake in shares of General Electric by 5.4% in the second quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock valued at $29,198,000 after acquiring an additional 55,049 shares in the last quarter. Smithbridge Asset Management Inc. DE raised its stake in shares of General Electric by 47.2% in the second quarter. Smithbridge Asset Management Inc. DE now owns 31,268 shares of the conglomerate’s stock valued at $845,000 after acquiring an additional 10,025 shares in the last quarter. Rothschild Investment Corp IL raised its stake in shares of General Electric by 2.4% in the second quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock valued at $12,569,000 after acquiring an additional 10,906 shares in the last quarter. Windsor Financial Group LLC raised its stake in shares of General Electric by 497.6% in the first quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock valued at $4,662,000 after acquiring an additional 130,275 shares in the last quarter. Finally, Private Capital Management Inc. raised its stake in shares of General Electric by 15.6% in the second quarter. Private Capital Management Inc. now owns 27,850 shares of the conglomerate’s stock valued at $752,000 after acquiring an additional 3,750 shares in the last quarter. Institutional investors and hedge funds own 54.78% of the company’s stock.
Shares of General Electric (GE) opened at 24.11 on Thursday. General Electric has a 12 month low of $23.58 and a 12 month high of $32.38. The firm has a 50-day moving average price of $24.94 and a 200-day moving average price of $27.67. The stock has a market cap of $208.74 billion, a PE ratio of 29.37 and a beta of 1.22.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Friday, September 15th. General Electric’s payout ratio is currently 118.52%.
About General Electric
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