Brokerages Anticipate General Electric (NYSE:GE) Will Post Earnings of $0.13 Per Share

Wall Street brokerages expect that General Electric (NYSE:GE) will announce earnings of $0.13 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for General Electric’s earnings. The highest EPS estimate is $0.16 and the lowest is $0.11. General Electric posted earnings of $0.14 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 7.1%. The business is expected to announce its next earnings report before the market opens on Wednesday, October 30th.

On average, analysts expect that General Electric will report full year earnings of $0.63 per share for the current financial year, with EPS estimates ranging from $0.59 to $0.66. For the next year, analysts forecast that the business will report earnings of $0.74 per share, with EPS estimates ranging from $0.60 to $0.84. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover General Electric.

General Electric (NYSE:GE) last released its earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share 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 firm had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.83 billion. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year.

Several equities analysts recently weighed in on GE shares. Barclays reiterated a “buy” rating and set a $12.00 target price on shares of General Electric in a research report on Friday. Royal Bank of Canada set a $13.00 target price on General Electric and gave the stock a “buy” rating in a research report on Monday. William Blair reiterated a “buy” rating on shares of General Electric in a research report on Friday, August 16th. Citigroup set a $14.00 target price on General Electric and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research report on Monday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. General Electric has a consensus rating of “Hold” and a consensus price target of $10.55.

In other news, Director Leslie Seidman purchased 6,500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $7.80 per share, for a total transaction of $50,700.00. Following the completion of the purchase, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $50,700. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman H Lawrence Culp, Jr. bought 331,684 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average price 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 acquired 801,068 shares of company stock valued at $6,954,745 over the last 90 days. 1.13% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Bellecapital International Ltd. grew its stake in General Electric by 166.4% during the 2nd quarter. Bellecapital International Ltd. now owns 48,990 shares of the conglomerate’s stock valued at $514,000 after purchasing an additional 30,600 shares in the last quarter. Resource Management LLC grew its stake in General Electric by 22.4% during the 2nd quarter. Resource Management LLC now owns 76,386 shares of the conglomerate’s stock valued at $802,000 after purchasing an additional 13,977 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in General Electric by 5.6% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 14,753,170 shares of the conglomerate’s stock valued at $154,908,000 after purchasing an additional 781,672 shares in the last quarter. Comerica Bank grew its stake in General Electric by 1.6% during the 2nd quarter. Comerica Bank now owns 1,954,457 shares of the conglomerate’s stock valued at $19,506,000 after purchasing an additional 31,411 shares in the last quarter. Finally, Carroll Financial Associates Inc. grew its stake in General Electric by 13.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 117,920 shares of the conglomerate’s stock valued at $1,238,000 after purchasing an additional 14,033 shares in the last quarter. Institutional investors and hedge funds own 59.27% of the company’s stock.

NYSE GE traded down $0.01 during trading hours on Monday, hitting $8.56. 28,775,871 shares of the company’s stock were exchanged, compared to its average volume of 75,085,125. The business’s 50 day moving average is $8.74 and its 200-day moving average is $9.62. General Electric has a 12-month low of $6.66 and a 12-month high of $13.78. The firm has a market capitalization of $74.62 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 1.91 and a beta of 1.11. 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 declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, September 13th. This represents a $0.04 annualized dividend and a yield of 0.47%. General Electric’s dividend payout ratio is presently 6.15%.

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.

Recommended Story: What are the advantages of the Stochastic Momentum Index?

Get a free copy of the Zacks research report on General Electric (GE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.