Zacks: Analysts Anticipate General Electric (NYSE:GE) Will Announce Quarterly Sales of $18.18 Billion

Equities analysts predict that General Electric (NYSE:GE) will announce $18.18 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for General Electric’s earnings. The highest sales estimate is $18.76 billion and the lowest is $17.40 billion. General Electric reported sales of $20.52 billion during the same quarter last year, which would indicate a negative year over year growth rate of 11.4%. The company is expected to issue its next earnings results on Wednesday, May 5th.

According to Zacks, analysts expect that General Electric will report full-year sales of $80.77 billion for the current financial year, with estimates ranging from $78.38 billion to $83.36 billion. For the next financial year, analysts expect that the firm will report sales of $84.47 billion, with estimates ranging from $79.34 billion to $89.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover General Electric.

General Electric (NYSE:GE) last released its quarterly earnings data on Monday, January 25th. The conglomerate reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). General Electric had a return on equity of 5.37% and a net margin of 4.52%. The company had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $21.62 billion. During the same period in the prior year, the firm posted $0.21 EPS. The firm’s quarterly revenue was down 16.4% on a year-over-year basis.

Several analysts have issued reports on GE shares. The Goldman Sachs Group upped their price target on shares of General Electric from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, February 22nd. Morgan Stanley upped their price target on shares of General Electric from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday. Barclays upped their price target on shares of General Electric from $12.00 to $13.00 in a report on Thursday, January 28th. UBS Group upped their price target on shares of General Electric from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 25th. Finally, Bank of America boosted their price objective on shares of General Electric from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, December 4th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $10.86.

A number of hedge funds have recently modified their holdings of GE. Norges Bank acquired a new position in General Electric during the fourth quarter worth approximately $714,522,000. FMR LLC increased its position in General Electric by 15.9% during the fourth quarter. FMR LLC now owns 480,790,647 shares of the conglomerate’s stock worth $5,192,540,000 after purchasing an additional 65,865,371 shares during the last quarter. Viking Global Investors LP acquired a new position in General Electric during the fourth quarter worth approximately $315,360,000. Bessemer Group Inc. increased its position in General Electric by 9,183.8% during the fourth quarter. Bessemer Group Inc. now owns 13,287,193 shares of the conglomerate’s stock worth $143,502,000 after purchasing an additional 13,144,071 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in General Electric during the fourth quarter worth approximately $82,781,000. 60.09% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE GE opened at $13.60 on Friday. General Electric has a 12-month low of $5.48 and a 12-month high of $14.13. The company has a market capitalization of $119.24 billion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 8.61 and a beta of 1.06. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.31 and a quick ratio of 2.04. The firm’s 50-day moving average is $11.72 and its two-hundred day moving average is $9.26.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 26th. Investors of record on Monday, March 8th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, March 5th. General Electric’s dividend payout ratio (DPR) is 6.15%.

About General Electric

General Electric Company operates as a high-tech industrial company in the United States, Europe, Asia, the Americas, the Middle East, and Africa. It operates through Power, Renewable Energy, Aviation, Healthcare, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and power generation services.

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