General Electric (NYSE:GE) - G.Research increased their FY2024 earnings per share estimates for shares of General Electric in a note issued to investors on Thursday, June 10th. G.Research analyst J. Bergner now anticipates that the conglomerate will earn $0.85 per share for the year, up from their prior estimate of $0.84. General Electric (NYSE:GE) last announced its quarterly earnings data on Monday, April 26th. The conglomerate reported $0.03 EPS for the quarter, topping the Zacks' consensus estimate of $0.01 by $0.02. The company had revenue of $17.12 billion during the quarter, compared to the consensus estimate of $17.66 billion. General Electric had a negative net margin of 4.33% and a positive return on equity of 1.53%. General Electric's quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS.
Other equities analysts also recently issued reports about the company. Bank of America reissued a "buy" rating and set a $15.00 target price on shares of General Electric in a research note on Monday, March 15th. The Goldman Sachs Group set a $15.00 target price on General Electric and gave the company a "buy" rating in a report on Wednesday, March 17th. Morgan Stanley upped their price target on shares of General Electric from $13.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, March 4th. UBS Group increased their price target on shares of General Electric from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, April 9th. Finally, Oppenheimer restated a "market perform" rating on shares of General Electric in a research report on Wednesday, March 17th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of "Buy" and a consensus price target of $14.60.
NYSE GE opened at $13.63 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.96 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $119.65 billion, a PE ratio of -29.63, a P/E/G ratio of 12.71 and a beta of 1.06. General Electric has a 52-week low of $5.93 and a 52-week high of $14.41. The business's 50-day moving average price is $13.45.
Hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC acquired a new stake in shares of General Electric during the 1st quarter worth about $28,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of General Electric by 251.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,100 shares of the conglomerate's stock valued at $28,000 after buying an additional 1,503 shares during the period. TD Ameritrade Investment Management LLC purchased a new stake in General Electric in the 4th quarter worth approximately $31,000. Childress Capital Advisors LLC acquired a new position in General Electric in the 4th quarter valued at $35,000. Finally, Inspire Advisors LLC purchased a new position in shares of General Electric during the 4th quarter worth $38,000. 63.41% of the stock is owned by hedge funds and other institutional investors.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.
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