FY2019 EPS Estimates for General Electric (GE) Lowered by Analyst
General Electric (NYSE:GE) – Stock analysts at Oppenheimer reduced their FY2019 earnings per share estimates for General Electric in a report issued on Wednesday. Oppenheimer analyst C. Glynn now expects that the conglomerate will post earnings of $1.05 per share for the year, down from their prior estimate of $1.40. Oppenheimer has a “Underperform” rating on the stock.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share 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 firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same period last year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis.
General Electric (GE) traded down $0.26 on Monday, hitting $18.76. The stock had a trading volume of 87,032,593 shares, compared to its average volume of 68,100,000. General Electric has a 52 week low of $17.25 and a 52 week high of $31.45. 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 $162,690.00, a P/E ratio of 21.81, a PEG ratio of 2.11 and a beta of 1.07.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank grew its holdings in shares of General Electric by 21.3% during the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock worth $91,179,000 after purchasing an additional 593,686 shares in the last quarter. Warren Averett Asset Management LLC grew its holdings in shares of General Electric by 7.0% during the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock worth $2,805,000 after purchasing an additional 6,799 shares in the last quarter. Palouse Capital Management Inc. grew its holdings in shares of General Electric by 5.4% during the 3rd quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock worth $4,608,000 after purchasing an additional 9,755 shares in the last quarter. Destination Wealth Management grew its holdings in shares of General Electric by 5.6% during the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock worth $20,938,000 after purchasing an additional 41,100 shares in the last quarter. Finally, Rockland Trust Co. grew its holdings in shares of General Electric by 8.6% during the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock worth $5,552,000 after purchasing an additional 16,309 shares in the last quarter. 55.64% of the stock is currently owned by institutional investors.
In other General Electric news, Chairman John Leonard Flannery purchased 60,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were bought at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the transaction, the chairman now directly owns 575,477 shares in the company, valued at approximately $10,513,964.79. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Francisco Dsouza purchased 55,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders purchased a total of 120,500 shares of company stock worth $2,183,220 over the last three months. 0.36% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Tuesday, December 26th. General Electric’s payout ratio is 55.81%.
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