General Electric (GE) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

General Electric (NYSE:GE) posted its quarterly earnings data on Tuesday. The conglomerate reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.06), MarketWatch Earnings reports. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The business had revenue of $29.57 billion for the quarter, compared to the consensus estimate of $30.08 billion. During the same quarter last year, the business posted $0.29 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis.

Shares of NYSE GE traded down $1.18 during mid-day trading on Tuesday, reaching $9.98. The company had a trading volume of 259,208,330 shares, compared to its average volume of 110,123,496. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.81 and a quick ratio of 1.51. The firm has a market capitalization of $98.11 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97. General Electric has a 12-month low of $10.93 and a 12-month high of $20.75.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, September 17th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Friday, September 14th. General Electric’s dividend payout ratio (DPR) is 45.71%.

A hedge fund recently bought a new stake in General Electric stock. HC Financial Advisors Inc. purchased a new position in General Electric (NYSE:GE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,079 shares of the conglomerate’s stock, valued at approximately $281,000. Hedge funds and other institutional investors own 53.75% of the company’s stock.

Several research firms have recently weighed in on GE. Royal Bank of Canada set a $15.00 price objective on shares of General Electric and gave the company a “buy” rating in a research report on Tuesday. Citigroup reduced their price objective on shares of General Electric from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday. Goldman Sachs Group set a $14.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research note on Tuesday. Deutsche Bank set a $15.00 price objective on shares of General Electric and gave the company a “hold” rating in a research note on Monday, July 23rd. Finally, Gabelli reaffirmed a “buy” rating on shares of General Electric in a research note on Wednesday, July 18th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $15.89.

About General Electric

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

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Earnings History for General Electric (NYSE:GE)

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