Zacks: Analysts Anticipate General Electric (GE) Will Announce Quarterly Sales of $32.69 Billion
Equities research analysts expect General Electric (NYSE:GE) to post sales of $32.69 billion for the current quarter, Zacks reports. Five analysts have made estimates for General Electric’s earnings, with the highest sales estimate coming in at $33.61 billion and the lowest estimate coming in at $31.78 billion. General Electric posted sales of $33.09 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.2%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, January 24th.
According to Zacks, 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 fiscal year, analysts forecast that the company will report sales of $122.85 billion per share, with estimates ranging from $120.95 billion to $125.37 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow General Electric.
General Electric (NYSE:GE) last issued its quarterly earnings data 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 analyst estimates of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. General Electric’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share.
Shares of General Electric (NYSE GE) opened at $16.77 on Friday. General Electric has a 12 month low of $16.76 and a 12 month high of $31.34. The stock has a market cap of $145,430.00, a PE ratio of 19.50, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.86%. General Electric’s payout ratio is 55.81%.
In other news, Director Francisco Dsouza acquired 55,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $17.94 per share, for a total transaction of $986,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven M. Mollenkopf acquired 5,500 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were purchased at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the purchase, 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 purchased 120,500 shares of company stock worth $2,183,220 in the last 90 days. 0.36% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in GE. MPS Loria Financial Planners LLC acquired a new position in General Electric in the second quarter worth $113,000. Ffcm LLC acquired a new position in General Electric in the second quarter worth $114,000. Corbenic Partners LLC boosted its holdings in General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 725 shares during the period. Bristlecone Advisors LLC acquired a new position in General Electric in the third quarter worth $164,000. Finally, KCS Wealth Advisory acquired a new position in General Electric in the fourth quarter worth $183,000. 55.64% of the stock is owned by institutional investors and hedge funds.
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About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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