Zacks: Analysts expect General Electric (NYSE: GE) to report quarterly sales of $18.07 billion
Wall Street analysts expect General Electric (NYSE:GE – Get Rating) to report revenue of $18.07 billion for the current fiscal quarter, reports Zacks Investment Research. Four analysts have released earnings estimates for General Electric, with the highest sales estimate of $18.47 billion and the lowest estimate of $17.27 billion. General Electric reported sales of $18.28 billion in the same quarter last year, suggesting a negative 1.1% year-over-year growth rate. The company is expected to release its next results on Monday, January 1.
On average, analysts expect General Electric to report annual revenue of $76.68 billion for the current fiscal year, with estimates ranging from $75.90 billion to $77.33 billion. of dollars. For the next fiscal year, analysts expect the company to post sales of $83.12 billion, with estimates ranging from $80.54 billion to $85.06 billion. Zacks sales averages are an average based on a survey of sell-side research companies that track General Electric.
General Electric (NYSE:GE – Get Rating) last released its quarterly results on Tuesday, April 26. The conglomerate reported earnings per share of $0.24 for the quarter, beating the consensus estimate of $0.20 by $0.04. The company posted revenue of $17.04 billion for the quarter, versus $16.92 billion expected by analysts. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. The company’s revenue decreased by 0.2% compared to the same quarter last year. During the same quarter last year, the company posted EPS of $0.24.
GE has been the subject of several analyst reports. Credit Suisse Group lowered its target price on General Electric shares from $113.00 to $102.00 in a Wednesday, April 27 research note. StockNews.com took over coverage from General Electric in a Thursday, March 31 report. They set a “hold” rating for the company. Bank of America lowered its target price on General Electric from $132.00 to $120.00 in a Wednesday, April 27 report. Zacks Investment Research downgraded General Electric from a “sell” rating to a “hold” rating and set a target price of $94.00 for the company in a Monday, March 7 report. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on General Electric from $118.00 to $107.00 in a Wednesday, April 27 research note. Five research analysts gave the stock a hold rating and ten gave the company’s stock a buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $115.67.
General Electric shares opened at $77.01 on Friday. The company has a debt ratio of 0.71, a current ratio of 1.19 and a quick ratio of 0.88. General Electric has a 1-year low of $71.14 and a 1-year high of $116.17. The company’s fifty-day simple moving average is $84.55 and its 200-day simple moving average is $92.57. The stock has a market capitalization of $84.76 billion, a PE ratio of -16.81, a P/E/G ratio of 3.82 and a beta of 1.02.
In related news, SVP John S. Slattery purchased 3,601 shares of General Electric in a trade that took place on Monday, May 2. The shares were purchased at an average cost of $75.00 per share, with a total value of $270,075.00. Following the completion of the transaction, the senior vice president now directly owns 3,601 shares of the company, valued at $270,075. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Additionally, director Paula Rosput Reynolds acquired 1,200 shares of the company in a transaction on Friday, May 6. The shares were acquired at an average price of $77.65 per share, for a total transaction of $93,180.00. Following the completion of the purchase, the director now owns 5,563 shares of the company, valued at approximately $431,966.95. Disclosure of this purchase can be found here. Insiders have purchased 69,801 shares of the company valued at $5,207,705 over the past three months. 0.70% of the shares are currently held by insiders.
Several hedge funds have recently increased or reduced their stake in GE. Vanguard Group Inc. increased its position in General Electric by 2.4% during the first quarter. Vanguard Group Inc. now owns 84,152,605 shares of the conglomerate valued at $7,699,963,000 after acquiring an additional 1,937,915 shares during the period. Capital Research Global Investors increased its position in General Electric by 42.9% during the first quarter. Capital Research Global Investors now owns 77,124,340 shares of the conglomerate valued at $7,056,906,000 after acquiring an additional 23,155,612 shares during the period. State Street Corp increased its position in General Electric by 0.6% during the fourth quarter. State Street Corp now owns 43,496,942 shares of the conglomerate valued at $4,112,580,000 after acquiring an additional 255,566 shares during the period. Morgan Stanley increased its position in General Electric by 5.7% during the second quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate valued at $556,497,000 after acquiring an additional 2,238,808 shares during the period. Finally, Geode Capital Management LLC increased its position in General Electric by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 17,674,014 shares of the conglomerate valued at $1,664,776,000 after acquiring an additional 513,385 shares during the period. Institutional investors and hedge funds hold 67.37% of the company’s shares.
General Electric Company Profile (Get an evaluation)
General Electric Company operates as a high-tech industrial enterprise in Europe, China, Asia, America, the Middle East and Africa. It operates through four segments: Energy, Renewable Energy, Aviation and Healthcare. The Power segment offers gas and steam turbines, a full balance of plant, upgrade and service solutions, and data operation software for power generation, industry, government and other customers.
Get a Free Copy of Zacks’ Research Report on General Electric (GE)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in General Electric right now?
Before you consider General Electric, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and General Electric wasn’t on the list.
Although General Electric currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here