General Electric Company (GE) to Release Quarterly Earnings on Friday
General Electric Company (NYSE:GE) will be announcing its earnings results before the market opens on Friday, October 20th. Analysts expect the company to announce earnings of $0.50 per share for the quarter. General Electric has set its FY17 guidance at $1.60-1.70 EPS.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same quarter in the prior year, the company earned $0.51 EPS. General Electric’s revenue was down 11.8% on a year-over-year basis. On average, analysts expect General Electric to post $1.53 EPS for the current fiscal year and $1.63 EPS for the next fiscal year.
General Electric Company (GE) opened at 23.05 on Friday. General Electric Company has a 1-year low of $22.83 and a 1-year high of $32.38. The firm has a market cap of $199.57 billion, a price-to-earnings ratio of 28.08 and a beta of 1.19. The company’s 50-day moving average price is $24.29 and its 200 day moving average price is $26.82.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s payout ratio is currently 118.52%.
In other General Electric news, Director James E. Rohr purchased 27,425 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were acquired at an average price of $25.50 per share, for a total transaction of $699,337.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James S. Tisch purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was acquired at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 233,253 shares of company stock worth $5,860,264. Insiders own 0.36% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GE. Franklin Resources Inc. lifted its stake in shares of General Electric by 43.8% in the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after acquiring an additional 23,764,129 shares in the last quarter. BlackRock Inc. lifted its stake in shares of General Electric by 3.9% in the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after acquiring an additional 19,422,516 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of General Electric by 18.6% in the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after acquiring an additional 14,316,281 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of General Electric by 1,011.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock worth $395,219,000 after acquiring an additional 13,315,605 shares in the last quarter. Finally, Capital World Investors lifted its stake in shares of General Electric by 8.6% in the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after acquiring an additional 11,194,678 shares in the last quarter. Institutional investors and hedge funds own 54.69% of the company’s stock.
A number of research analysts recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $26.00 target price on shares of General Electric in a report on Thursday. Vetr upgraded General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 price objective on the stock in a research note on Tuesday. J P Morgan Chase & Co restated an “underweight” rating and set a $20.00 price objective (down previously from $22.00) on shares of General Electric in a research note on Monday. Credit Suisse Group restated an “outperform” rating and set a $30.00 price objective (down previously from $33.00) on shares of General Electric in a research note on Thursday, October 5th. Finally, Morgan Stanley reduced their price objective on General Electric from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, October 2nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.16.
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