$0.29 EPS Expected for General Electric Company (GE) This Quarter
Equities analysts expect General Electric Company (NYSE:GE) to post earnings of $0.29 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for General Electric’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.32. General Electric reported earnings of $0.46 per share during the same quarter last year, which suggests a negative year over year growth rate of 37%. The business is scheduled to report its next earnings results on Friday, January 19th.
On average, analysts expect that General Electric will report full year earnings of $1.06 per share for the current financial year, with EPS estimates ranging from $1.05 to $1.10. For the next fiscal year, analysts forecast that the company will report earnings of $1.04 per share, with EPS estimates ranging from $1.00 to $1.15. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for General Electric.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS.
In other General Electric news, Chairman John Leonard Flannery bought 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the transaction, the chairman now directly owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven M. Mollenkopf bought 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at $100,320. The disclosure for this purchase can be found here. Insiders have bought 120,500 shares of company stock valued at $2,183,220 over the last quarter. Insiders own 0.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after buying an additional 3,297,890 shares in the last quarter. BlackRock Inc. increased its holdings in General Electric by 3.9% in the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after buying an additional 19,422,516 shares in the last quarter. Capital World Investors increased its holdings in General Electric by 8.6% in the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after buying an additional 11,194,678 shares in the last quarter. Capital Research Global Investors increased its holdings in General Electric by 18.6% in the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after buying an additional 14,316,281 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in General Electric by 43.8% in the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after buying an additional 23,764,129 shares in the last quarter. Institutional investors own 55.74% of the company’s stock.
Shares of General Electric (NYSE:GE) opened at $17.64 on Friday. The stock has a market cap of $154,016.23, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.92 and a beta of 1.06. General Electric has a 12 month low of $17.46 and a 12 month high of $32.38. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 2.72%. General Electric’s payout ratio is currently 120.00%.
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About General Electric
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