William Blair Analysts Decrease Earnings Estimates for General Electric Co. (GE)
General Electric Co. (NYSE:GE) – William Blair dropped their Q3 2016 earnings estimates for shares of General Electric in a report released on Thursday. William Blair analyst N. Heymann now anticipates that the brokerage will post earnings of $0.32 per share for the quarter, down from their previous estimate of $0.34. William Blair has a “Buy” rating and a $38.00 price objective on the stock. William Blair also issued estimates for General Electric’s Q4 2016 earnings at $0.52 EPS.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The business had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. During the same period last year, the business posted $0.31 EPS. General Electric’s revenue was up 14.6% compared to the same quarter last year.
A number of other brokerages have also recently issued reports on GE. Vetr upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $31.67 price objective for the company in a report on Thursday, July 21st. Standpoint Research began coverage on shares of General Electric in a research note on Friday, July 22nd. They issued a “sell” rating and a $26.00 price target on the stock. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $36.00 price target on shares of General Electric in a research note on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $32.79.
General Electric (NYSE:GE) opened at 28.89 on Monday. The company has a 50-day moving average of $29.97 and a 200-day moving average of $30.69. The firm has a market capitalization of $258.89 billion, a price-to-earnings ratio of 24.42 and a beta of 1.15. General Electric has a 1-year low of $27.10 and a 1-year high of $33.00.
Several institutional investors have recently added to or reduced their stakes in the stock. Patten & Patten Inc. TN increased its position in General Electric by 1.5% in the second quarter. Patten & Patten Inc. TN now owns 640,718 shares of the company’s stock valued at $20,170,000 after buying an additional 9,512 shares during the period. Baxter Bros Inc. acquired a new position in General Electric during the second quarter valued at approximately $11,436,000. Howland Capital Management LLC increased its position in General Electric by 7.6% in the second quarter. Howland Capital Management LLC now owns 1,255,577 shares of the company’s stock valued at $39,526,000 after buying an additional 89,178 shares during the period. Osborn Rohs Williams & Donohoe Ltd increased its position in General Electric by 1.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 290,268 shares of the company’s stock valued at $9,138,000 after buying an additional 3,405 shares during the period. Finally, Cacti Asset Management LLC increased its position in General Electric by 1.2% in the second quarter. Cacti Asset Management LLC now owns 97,525 shares of the company’s stock valued at $3,070,000 after buying an additional 1,175 shares during the period. Institutional investors and hedge funds own 55.81% of the company’s stock.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the purchase, the chairman now owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
About General Electric
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