Zacks: Brokerages Anticipate General Electric (GE) Will Post Quarterly Sales of $27.50 Billion

Wall Street analysts expect that General Electric (NYSE:GE) will report $27.50 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for General Electric’s earnings, with the lowest sales estimate coming in at $26.17 billion and the highest estimate coming in at $28.95 billion. General Electric reported sales of $27.66 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 0.6%. The business is scheduled to issue its next quarterly earnings report on Friday, April 20th.

On average, analysts expect that General Electric will report full year sales of $27.50 billion for the current fiscal year, with estimates ranging from $114.77 billion to $125.86 billion. For the next financial year, analysts forecast that the company will post sales of $124.40 billion per share, with estimates ranging from $116.14 billion to $129.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for General Electric.

General Electric (NYSE:GE) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The business had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. During the same quarter in the prior year, the company earned $0.46 EPS. The company’s revenue was down 5.1% on a year-over-year basis.

GE has been the topic of a number of analyst reports. Royal Bank of Canada set a $25.00 target price on shares of General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. Citigroup set a $28.00 target price on shares of General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. Bank of America upgraded shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Monday, October 23rd. Stifel Nicolaus restated a “buy” rating and issued a $26.00 target price on shares of General Electric in a report on Thursday, October 12th. Finally, Morningstar restated a “buy” rating on shares of General Electric in a report on Tuesday, November 14th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.42.

Shares of General Electric (NYSE:GE) opened at $15.64 on Monday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.86 and a quick ratio of 1.53. General Electric has a fifty-two week low of $15.60 and a fifty-two week high of $30.59. The firm has a market cap of $135,630.00, a PE ratio of 14.48, a P/E/G ratio of 2.93 and a beta of 0.93.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th were paid a $0.12 dividend. The ex-dividend date was Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 3.07%. General Electric’s dividend payout ratio (DPR) is 44.44%.

In related news, insider Alexander Dimitrief purchased 2,689 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the purchase, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John Leonard Flannery purchased 60,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were bought at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the purchase, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 124,370 shares of company stock valued at $2,245,570. Company insiders own 0.36% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in General Electric by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after buying an additional 3,297,890 shares during the period. BlackRock Inc. boosted its holdings in General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after buying an additional 19,422,516 shares during the period. Capital World Investors boosted its holdings in General Electric by 8.6% in the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after buying an additional 11,194,678 shares during the period. Capital Research Global Investors boosted its holdings in General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after buying an additional 14,316,281 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after buying an additional 23,764,129 shares during the period. Institutional investors own 55.50% of the company’s stock.

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General Electric Company Profile

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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