Brokerages Anticipate General Electric (GE) Will Post Quarterly Sales of $31.85 Billion
Equities analysts predict that General Electric (NYSE:GE) will report sales of $31.85 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for General Electric’s earnings. The lowest sales estimate is $30.90 billion and the highest is $32.64 billion. General Electric posted sales of $31.40 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The business is expected to announce its next earnings report on Wednesday, January 23rd.
On average, analysts expect that General Electric will report full year sales of $120.18 billion for the current fiscal year, with estimates ranging from $119.24 billion to $120.98 billion. For the next fiscal year, analysts expect that the business will post sales of $117.65 billion, with estimates ranging from $113.49 billion to $122.29 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow General Electric.
General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The company had revenue of $29.57 billion during the quarter, compared to the consensus estimate of $30.08 billion. General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.29 EPS.
In other General Electric news, Director Francisco Dsouza acquired 60,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 14th. The stock was acquired at an average cost of $8.32 per share, for a total transaction of $499,200.00. Following the purchase, the director now owns 151,500 shares of the company’s stock, valued at $1,260,480. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alexander Dimitrief acquired 10,000 shares of General Electric stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average price of $9.48 per share, with a total value of $94,800.00. Following the completion of the purchase, the senior vice president now directly owns 103,075 shares in the company, valued at approximately $977,151. The disclosure for this purchase can be found here. Insiders purchased a total of 295,000 shares of company stock valued at $2,783,250 over the last quarter. 1.12% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Matthew Goff Investment Advisor LLC grew its position in shares of General Electric by 8.0% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 226,342 shares of the conglomerate’s stock valued at $2,555,000 after purchasing an additional 16,810 shares in the last quarter. Great Lakes Advisors LLC grew its position in shares of General Electric by 6.2% during the 3rd quarter. Great Lakes Advisors LLC now owns 5,660,230 shares of the conglomerate’s stock valued at $63,904,000 after purchasing an additional 331,577 shares in the last quarter. Belpointe Asset Management LLC grew its position in shares of General Electric by 19.3% during the 3rd quarter. Belpointe Asset Management LLC now owns 90,572 shares of the conglomerate’s stock valued at $1,023,000 after purchasing an additional 14,680 shares in the last quarter. Vanguard Group Inc. grew its position in shares of General Electric by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 635,893,221 shares of the conglomerate’s stock valued at $7,179,235,000 after purchasing an additional 6,167,111 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd grew its position in shares of General Electric by 86.0% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 13,622,936 shares of the conglomerate’s stock valued at $153,803,000 after purchasing an additional 6,300,429 shares in the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.
NYSE:GE opened at $7.35 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.36 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $63.21 billion, a P/E ratio of 7.00, a P/E/G ratio of 2.07 and a beta of 0.88. General Electric has a 12 month low of $7.15 and a 12 month high of $19.39.
General Electric Company Profile
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.
Further Reading: LIBOR
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.