Zacks: Analysts Anticipate General Electric (GE) Will Announce Quarterly Sales of $27.90 Billion

Equities research analysts forecast that General Electric (NYSE:GE) will post $27.90 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for General Electric’s earnings. The highest sales estimate is $28.95 billion and the lowest is $27.26 billion. General Electric posted sales of $27.66 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.9%. The company is scheduled to issue its next quarterly earnings results on Friday, April 20th.

On average, analysts expect that General Electric will report full-year sales of $27.90 billion for the current year, with estimates ranging from $121.26 billion to $127.04 billion. For the next year, analysts expect that the company will post sales of $126.32 billion per share, with estimates ranging from $122.64 billion to $130.80 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow General Electric.

General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. General Electric’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 EPS.

Several equities research analysts recently commented on the stock. Vetr lowered shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target for the company. in a report on Wednesday, January 10th. Deutsche Bank cut their price target on shares of General Electric from $18.00 to $15.00 and set a “sell” rating for the company in a report on Tuesday, November 21st. Royal Bank of Canada lowered shares of General Electric from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $25.00 to $20.00 in a report on Tuesday, November 14th. Stifel Nicolaus set a $22.00 price target on shares of General Electric and gave the stock a “neutral” rating in a report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $14.00 price target (down previously from $16.00) on shares of General Electric in a report on Monday, February 12th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $18.27.

In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average price of $16.16 per share, with a total value of $43,454.24. Following the completion of the acquisition, the insider now directly owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.36% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ford Financial Group Inc. acquired a new position in General Electric in the fourth quarter valued at about $108,000. MPS Loria Financial Planners LLC acquired a new position in General Electric in the second quarter valued at about $113,000. Ffcm LLC acquired a new position in General Electric in the second quarter valued at about $114,000. Santori & Peters Inc. acquired a new position in General Electric in the fourth quarter valued at about $120,000. Finally, Avestar Capital LLC acquired a new position in General Electric in the fourth quarter valued at about $137,000. 56.42% of the stock is owned by hedge funds and other institutional investors.

Shares of General Electric (GE) traded down $0.16 during midday trading on Friday, reaching $14.27. 56,977,571 shares of the company traded hands, compared to its average volume of 84,820,000. The stock has a market cap of $123,900.00, a price-to-earnings ratio of -47.57, a PEG ratio of 2.86 and a beta of 1.00. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87. General Electric has a 12 month low of $13.95 and a 12 month high of $30.54.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Friday, February 23rd. General Electric’s payout ratio is -160.00%.

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General Electric Company Profile

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

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Earnings History and Estimates for General Electric (NYSE:GE)

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