General Electric (NYSE:GE) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

General Electric (NYSE:GE) announced its quarterly earnings results on Wednesday. The conglomerate reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.05, Briefing.com reports. The company had revenue of $28.83 billion during the quarter, compared to analysts’ expectations of $28.83 billion. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. General Electric updated its FY 2019 guidance to $0.55-0.65 EPS and its FY19 guidance to $0.55-0.65 EPS.

GE stock traded down $0.08 during mid-day trading on Friday, hitting $10.00. 64,290,489 shares of the stock were exchanged, compared to its average volume of 46,588,580. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.77 and a quick ratio of 1.50. The firm’s fifty day simple moving average is $10.35. General Electric has a 12 month low of $6.66 and a 12 month high of $13.78. The company has a market cap of $87.21 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, June 28th. General Electric’s dividend payout ratio (DPR) is currently 6.15%.

Several equities research analysts recently issued reports on the company. Zacks Investment Research lowered General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research note on Friday. Cowen reissued a “hold” rating and set a $8.00 price objective on shares of General Electric in a research note on Wednesday, May 1st. William Blair reissued a “buy” rating on shares of General Electric in a research note on Thursday, June 13th. Deutsche Bank set a $10.00 price objective on General Electric and gave the company a “hold” rating in a research note on Thursday, May 2nd. Finally, Citigroup set a $14.00 price objective on General Electric and gave the company a “buy” rating in a research note on Wednesday, June 19th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. General Electric has a consensus rating of “Hold” and an average target price of $11.68.

In other General Electric news, Director Edward P. Garden sold 3,370,314 shares of General Electric stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $9.53, for a total transaction of $32,119,092.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward P. Garden sold 1,289,538 shares of General Electric stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total value of $12,921,170.76. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at approximately $250,500. The disclosure for this sale can be found here. Insiders own 1.13% of the company’s stock.

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.

Read More: How is diluted EPS different from basic EPS?

Earnings History 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.