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.

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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.

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Earnings history and estimates for General Electric (NYSE:GE)

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