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.
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.
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