$27.88 Billion in Sales Expected for General Electric (GE) This Quarter

Brokerages expect General Electric (NYSE:GE) to announce sales of $27.88 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for General Electric’s earnings, with the lowest sales estimate coming in at $27.16 billion and the highest estimate coming in at $28.95 billion. General Electric reported sales of $27.66 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 0.8%. The company is expected to issue its next quarterly earnings results before the market opens on Friday, April 20th.

According to Zacks, analysts expect that General Electric will report full-year sales of $123.13 billion for the current financial year, with estimates ranging from $118.49 billion to $127.04 billion. For the next financial year, analysts anticipate that the company will post sales of $123.81 billion per share, with estimates ranging from $119.49 billion to $130.80 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for General Electric.

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

A number of research analysts have issued reports on GE shares. Morningstar set a $23.50 price target on General Electric and gave the company a “buy” rating in a report on Tuesday, January 23rd. Citigroup decreased their price target on General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Cowen reissued a “market perform” rating and issued a $15.00 price target (down from $17.00) on shares of General Electric in a report on Monday, February 26th. UBS initiated coverage on General Electric in a research note on Tuesday, January 23rd. They set a “neutral” rating and a $17.00 target price for the company. Finally, JPMorgan Chase reaffirmed an “underweight” rating and set a $14.00 target price (down from $16.00) on shares of General Electric in a research note on Monday, February 12th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $17.86.

In other news, insider Alexander Dimitrief purchased 2,689 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the transaction, the insider now owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.12% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of GE. Franklin Resources Inc. grew its holdings in General Electric by 64.6% in the 4th quarter. Franklin Resources Inc. now owns 184,682,929 shares of the conglomerate’s stock valued at $3,222,649,000 after buying an additional 72,489,551 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of General Electric by 4,215.4% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 54,124,364 shares of the conglomerate’s stock valued at $1,308,727,000 after purchasing an additional 52,870,164 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of General Electric by 167.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 62,730,118 shares of the conglomerate’s stock valued at $1,094,640,000 after purchasing an additional 39,268,675 shares during the last quarter. American International Group Inc. lifted its stake in shares of General Electric by 823.5% in the 4th quarter. American International Group Inc. now owns 27,837,013 shares of the conglomerate’s stock valued at $485,756,000 after purchasing an additional 24,822,828 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares during the last quarter. Hedge funds and other institutional investors own 56.22% of the company’s stock.

NYSE:GE traded up $0.33 during trading hours on Friday, reaching $13.99. The company had a trading volume of 87,631,907 shares, compared to its average volume of 88,202,797. General Electric has a 1-year low of $12.73 and a 1-year high of $30.54. The company has a market capitalization of $119,732.73, a PE ratio of 13.32, a PEG ratio of 2.68 and a beta of 1.02. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, February 23rd. General Electric’s payout ratio is 45.71%.

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About General Electric

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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