Brokerages Anticipate General Electric (NYSE:GE) to Post $0.13 EPS

Wall Street analysts predict that General Electric (NYSE:GE) will post earnings per share (EPS) of $0.13 for the current quarter, according to Zacks. Four analysts have issued estimates for General Electric’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.16. General Electric reported earnings of $0.14 per share in the same quarter last year, which would indicate a negative year over year growth rate of 7.1%. The company is scheduled to announce its next earnings results on Tuesday, October 29th.

On average, analysts expect that General Electric will report full-year earnings of $0.64 per share for the current financial year, with EPS estimates ranging from $0.61 to $0.66. For the next fiscal year, analysts expect that the company will report earnings of $0.74 per share, with EPS estimates ranging from $0.60 to $0.84. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for General Electric.

General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The company had revenue of $28.83 billion during the quarter, compared to analysts’ expectations of $28.83 billion. During the same quarter in the prior year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year.

GE has been the subject of several recent analyst reports. William Blair reissued a “buy” rating on shares of General Electric in a research note on Friday. Zacks Investment Research cut General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Friday, August 2nd. Deutsche Bank set a $10.00 price target on General Electric and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Citigroup set a $14.00 price target on General Electric and gave the stock a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average price target of $11.68.

Shares of NYSE:GE traded down $0.27 on Thursday, hitting $8.40. The company’s stock had a trading volume of 66,219,017 shares, compared to its average volume of 93,073,232. General Electric has a 12 month low of $6.66 and a 12 month high of $13.78. The company has a market capitalization of $76.71 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03. The stock’s 50-day moving average is $9.94 and its two-hundred day moving average is $9.95. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.44 and a current ratio of 1.73.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.48%. General Electric’s dividend payout ratio is currently 6.15%.

In related news, Chairman H Lawrence Culp, Jr. bought 252,200 shares of General Electric stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $7.93 per share, with a total value of $1,999,946.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman H Lawrence Culp, Jr. bought 331,684 shares of General Electric stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $9.04 per share, with a total value of $2,998,423.36. The disclosure for this purchase can be found here. Insiders have purchased 794,568 shares of company stock valued at $6,904,045 in the last ninety days. Company insiders own 1.13% of the company’s stock.

A number of institutional investors have recently made changes to their positions in GE. Resource Management LLC boosted its stake in General Electric by 22.4% during the second quarter. Resource Management LLC now owns 76,386 shares of the conglomerate’s stock worth $802,000 after buying an additional 13,977 shares during the period. Bellecapital International Ltd. raised its stake in shares of General Electric by 166.4% during the 2nd quarter. Bellecapital International Ltd. now owns 48,990 shares of the conglomerate’s stock worth $514,000 after buying an additional 30,600 shares during the last quarter. Cornell Pochily Investment Advisors Inc. raised its stake in shares of General Electric by 114.2% during the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 32,487 shares of the conglomerate’s stock worth $246,000 after buying an additional 17,317 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in shares of General Electric by 13.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 117,920 shares of the conglomerate’s stock worth $1,238,000 after buying an additional 14,033 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of General Electric by 6.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 1,474,509 shares of the conglomerate’s stock worth $9,764,000 after buying an additional 88,000 shares during the last quarter. 58.85% of the stock is owned by hedge funds and other institutional investors.

About General Electric

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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