General Electric (NYSE:GE) Releases FY 2024 Earnings Guidance

General Electric (NYSE:GE) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 3.950-4.200 for the period, compared to the consensus estimate of 4.080. The company issued revenue guidance of -. General Electric also updated its FY24 guidance to $3.95-4.20 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GE. StockNews.com started coverage on General Electric in a report on Monday, April 29th. They issued a hold rating on the stock. TD Cowen upgraded shares of General Electric from a hold rating to a buy rating and increased their price objective for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Wells Fargo & Company boosted their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an overweight rating in a report on Wednesday. Argus increased their price target on shares of General Electric from $170.00 to $180.00 and gave the company a buy rating in a report on Wednesday, April 24th. Finally, UBS Group boosted their price objective on General Electric from $201.00 to $209.00 and gave the stock a buy rating in a research note on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $183.93.

General Electric Stock Up 1.5 %

Shares of General Electric stock opened at $164.71 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.82. The stock has a market cap of $178.60 billion, a price-to-earnings ratio of 54.00, a PEG ratio of 1.72 and a beta of 1.21. The firm’s 50-day moving average is $162.16 and its two-hundred day moving average is $156.01. General Electric has a 1 year low of $84.42 and a 1 year high of $177.20.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. As a group, research analysts expect that General Electric will post 4.02 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.