Wall Street brokerages expect General Electric (NYSE:GE) to report $32.69 billion in sales for the current quarter, according to Zacks. Five analysts have issued estimates for General Electric’s earnings. The lowest sales estimate is $31.78 billion and the highest is $33.61 billion. General Electric posted sales of $33.09 billion in the same quarter last year, which suggests a negative year over year growth rate of 1.2%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, January 24th.
On average, analysts expect that General Electric will report full year sales of $32.69 billion for the current financial year, with estimates ranging from $118.47 billion to $124.30 billion. For the next year, analysts forecast that the firm will post sales of $124.67 billion per share, with estimates ranging from $120.95 billion to $131.14 billion. Zacks’ sales averages 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, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis.
Shares of General Electric (GE) traded up $0.17 during mid-day trading on Wednesday, reaching $18.15. The company’s stock had a trading volume of 81,366,298 shares, compared to its average volume of 61,780,000. General Electric has a 1-year low of $17.25 and a 1-year high of $31.83. 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 stock has a market cap of $157,400.00, a price-to-earnings ratio of 21.10, a PEG ratio of 1.93 and a beta of 1.07.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is presently 55.81%.
In other General Electric news, Director Francisco Dsouza purchased 55,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $17.94 per share, with a total value of $986,700.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman John Leonard Flannery purchased 60,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the acquisition, the chairman now owns 575,477 shares in the company, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Peak Financial Management Inc. increased its holdings in General Electric by 0.3% during the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after buying an additional 25 shares during the period. Puplava Financial Services Inc. increased its holdings in General Electric by 0.4% during 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 during the period. Cutter & CO Brokerage Inc. increased its holdings in General Electric by 0.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after buying an additional 67 shares during the period. Northwest Wealth Management LLC increased its holdings in General Electric by 0.8% during 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 during the period. Finally, NorthRock Partners LLC increased its holdings in General Electric by 0.9% during the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after buying an additional 80 shares during the period. 55.62% of the stock is owned by hedge funds and other institutional investors.
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