General Electric (NYSE:GE) Expected to Post Earnings of -$0.08 Per Share

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Equities research analysts predict that General Electric (NYSE:GE) will announce earnings per share of ($0.08) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for General Electric’s earnings. The highest EPS estimate is ($0.02) and the lowest is ($0.17). General Electric reported earnings of $0.15 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 153.3%. The company is expected to report its next earnings results before the market opens on Wednesday, October 28th.

On average, analysts expect that General Electric will report full year earnings of ($0.05) per share for the current financial year, with EPS estimates ranging from ($0.22) to $0.08. For the next year, analysts expect that the company will report earnings of $0.29 per share, with EPS estimates ranging from ($0.10) to $0.44. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover General Electric.

General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, July 29th. The conglomerate reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.06). The business had revenue of $17.75 billion during the quarter, compared to analyst estimates of $17.27 billion. General Electric had a negative net margin of 5.10% and a positive return on equity of 7.94%. The business’s revenue for the quarter was down 38.4% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS.

GE has been the subject of a number of recent research reports. TheStreet raised General Electric from a “d+” rating to a “c-” rating in a research report on Tuesday, June 9th. Deutsche Bank reduced their price target on General Electric from $6.51 to $6.25 and set a “hold” rating for the company in a report on Thursday, July 30th. Zacks Investment Research cut General Electric from a “hold” rating to a “sell” rating and set a $7.50 price target for the company. in a report on Friday, June 12th. Bank of America reissued a “buy” rating and issued a $11.00 price target on shares of General Electric in a report on Monday, June 15th. Finally, JPMorgan Chase & Co. reissued a “fair value” rating on shares of General Electric in a report on Monday, August 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. General Electric has an average rating of “Hold” and a consensus price target of $9.02.

In related news, Director Trian Fund Management, L.P. sold 15,569,158 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $6.14, for a total value of $95,594,630.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edward P. Garden sold 3,264,481 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $6.09, for a total value of $19,880,689.29. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Capital Advisory Group Advisory Services LLC bought a new position in General Electric in the 1st quarter worth approximately $27,000. Balentine LLC acquired a new stake in shares of General Electric during the 1st quarter valued at $34,000. Lake Point Wealth Management acquired a new stake in shares of General Electric during the 1st quarter valued at $38,000. Watson Rebecca acquired a new stake in shares of General Electric during the 2nd quarter valued at $34,000. Finally, Rocky Mountain Advisers LLC lifted its position in shares of General Electric by 90.0% during the 2nd quarter. Rocky Mountain Advisers LLC now owns 6,333 shares of the conglomerate’s stock valued at $43,000 after acquiring an additional 3,000 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Shares of GE traded up $0.15 during mid-day trading on Monday, reaching $6.39. The company’s stock had a trading volume of 90,076,370 shares, compared to its average volume of 96,602,164. The company’s 50 day moving average is $6.38 and its 200 day moving average is $6.68. The stock has a market cap of $55.93 billion, a PE ratio of -11.02 and a beta of 0.91. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.21 and a quick ratio of 1.95. General Electric has a 12-month low of $5.48 and a 12-month high of $13.26.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Monday, September 28th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Friday, September 25th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

General Electric Company Profile

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

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