General Electric (GE) to Release Quarterly Earnings on Wednesday
General Electric (NYSE:GE) is scheduled to be announcing its earnings results before the market opens on Wednesday, January 24th. Analysts expect the company to announce earnings of $0.29 per share for the quarter. General Electric has set its FY17 guidance at $1.05-1.10 EPS.
General Electric (NYSE:GE) last released its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. On average, analysts expect General Electric to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
General Electric (NYSE GE) opened at $18.21 on Wednesday. The firm has a market cap of $157,920.00, a P/E ratio of 21.17, a PEG ratio of 2.11 and a beta of 1.07. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. General Electric has a 1 year low of $17.25 and a 1 year high of $31.45.
Several research analysts have recently weighed in on the stock. Vetr raised shares of General Electric from a “buy” rating to a “strong-buy” rating and set a $22.05 target price on the stock in a research report on Monday. JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a research report on Monday. Cowen reissued a “hold” rating and issued a $19.00 target price on shares of General Electric in a research report on Wednesday, November 8th. Deutsche Bank set a $21.00 target price on shares of General Electric and gave the stock a “sell” rating in a research report on Monday, October 23rd. Finally, Goldman Sachs Group set a $23.00 target price on shares of General Electric and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.25.
In related news, Chairman John Leonard Flannery purchased 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the acquisition, the chairman now owns 575,477 shares in the company, valued at approximately $10,513,964.79. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the acquisition, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. Cutter & CO Brokerage Inc. lifted its stake in General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after acquiring an additional 67 shares during the last quarter. NorthRock Partners LLC lifted its stake in General Electric by 0.9% in the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after acquiring an additional 80 shares during the last quarter. Shapiro Capital Management LLC lifted its stake in General Electric by 0.8% in the second quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock valued at $510,000 after acquiring an additional 147 shares during the last quarter. CFO4Life Group LLC lifted its stake in General Electric by 0.9% in the second quarter. CFO4Life Group LLC now owns 16,610 shares of the conglomerate’s stock valued at $449,000 after acquiring an additional 152 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in General Electric by 0.3% in the second quarter. Sunbelt Securities Inc. now owns 54,208 shares of the conglomerate’s stock valued at $1,464,000 after acquiring an additional 176 shares during the last quarter. Institutional investors and hedge funds own 55.64% of the company’s stock.
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