General Electric (NYSE:GE) Issues FY19 Earnings Guidance

General Electric (NYSE:GE) updated its FY19 earnings guidance on Wednesday. The company provided EPS guidance of $0.55-0.65 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.59. General Electric also updated its FY 2019 guidance to $0.55-0.65 EPS.

NYSE GE traded down $0.35 during mid-day trading on Wednesday, reaching $10.17. 2,752,292 shares of the company’s stock traded hands, compared to its average volume of 38,446,140. General Electric has a 1-year low of $6.66 and a 1-year high of $13.78. The firm’s fifty day simple moving average is $10.36. The company has a current ratio of 1.77, a quick ratio of 1.50 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $91.66 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 2.39 and a beta of 1.03.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $27.29 billion during the quarter, compared to analyst estimates of $27.31 billion. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. Equities analysts expect that General Electric will post 0.61 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, June 28th. General Electric’s dividend payout ratio (DPR) is 6.15%.

Several brokerages have weighed in on GE. UBS Group set a $115.00 target price on Entergy and gave the company a buy rating in a research note on Monday, July 15th. Cowen restated a hold rating and issued a $103.00 target price on shares of United Therapeutics in a report on Wednesday, May 1st. Citigroup set a $14.00 price target on General Electric and gave the company a buy rating in a report on Wednesday, June 19th. Zacks Investment Research downgraded GreenTree Hospitality Group from a buy rating to a hold rating in a report on Monday, May 20th. Finally, Deutsche Bank downgraded Cogent Communications from a buy rating to a hold rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $11.62.

In other General Electric news, Director Edward P. Garden sold 3,370,314 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $9.53, for a total value of $32,119,092.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward P. Garden sold 1,289,538 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total value of $12,921,170.76. Following the completion of the sale, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $250,500. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by company insiders.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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Earnings History and Estimates for General Electric (NYSE:GE)

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