$26.85 Billion in Sales Expected for General Electric (GE) This Quarter

Wall Street brokerages forecast that General Electric (NYSE:GE) will post sales of $26.85 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for General Electric’s earnings. The highest sales estimate is $27.23 billion and the lowest is $26.49 billion. General Electric posted sales of $28.66 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.3%. The firm is scheduled to announce its next earnings results on Friday, April 19th.

According to Zacks, analysts expect that General Electric will report full year sales of $117.69 billion for the current financial year, with estimates ranging from $116.71 billion to $119.67 billion. For the next fiscal year, analysts anticipate that the company will post sales of $99.27 billion, with estimates ranging from $91.20 billion to $119.59 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover General Electric.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. The company had revenue of $33.28 billion during the quarter, compared to the consensus estimate of $32.01 billion.

A number of equities research analysts have commented on GE shares. Vertical Research upgraded General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, December 19th. UBS Group set a $13.00 price target on General Electric and gave the company a “buy” rating in a research report on Monday, December 10th. Argus upgraded General Electric from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. William Blair restated a “buy” rating on shares of General Electric in a research report on Monday, January 14th. Finally, Gabelli restated a “buy” rating on shares of General Electric in a research report on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. General Electric presently has an average rating of “Hold” and a consensus price target of $12.44.

NYSE GE opened at $10.10 on Tuesday. General Electric has a 12 month low of $6.66 and a 12 month high of $15.59. The stock has a market capitalization of $86.74 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 4.05 and a beta of 0.99. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.52 and a current ratio of 1.81.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, March 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, March 8th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

In other news, insider Russell Stokes sold 49,904 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the sale, the insider now directly owns 265,986 shares of the company’s stock, valued at $2,641,240.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.13% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of General Electric by 250.0% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 2,500 shares during the last quarter. Mackey Komara & Dankovich LLC purchased a new stake in shares of General Electric during the fourth quarter valued at approximately $27,000. Arbor Wealth Management LLC purchased a new stake in shares of General Electric during the fourth quarter valued at approximately $30,000. Edge Wealth Management LLC increased its position in shares of General Electric by 47.4% during the fourth quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 1,300 shares during the last quarter. Finally, SevenBridge Financial Group LLC increased its position in shares of General Electric by 100.4% during the fourth quarter. SevenBridge Financial Group LLC now owns 4,193 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 2,101 shares during the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.

About General Electric

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.

Featured Article: What is the strike price in options trading?

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.