G.Research Analysts Lift Earnings Estimates for General Electric (NYSE:GE)

Friday, June 11, 2021 | MarketBeat

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.

Featured Article: Trading Halts

Earnings History and Estimates for General Electric (NYSE:GE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: How To Calculate Debt-to-Equity Ratio


7 Internet of Things Stocks That Are a Perfect Fit to Our Connected Future

When you say the Internet of Things (IoT) you may get different responses. I like to think of it broadly as being about connection. It’s about devices that can connect with each other, and with the internet. And this provides users with the solutions that are making our lives more convenient.

The most basic, and ubiquitous, example of an IoT device is the smartphone that many of us have with us at all times. But think about what that has led to. Home assistants, security cameras, fitness apps, and so much more are all enabled by the internet of things.

IoT took on even more importance in the pandemic as businesses had to find a way to ensure the security and viability of their networks even as their employees were scattered remotely. This created demand for edge and cloud computing solutions that are also facilitated by the internet of things.

And yes, this is just the start. The need for more and more data is powering demand for IoT solution in areas such as autonomous vehicles.

But the good news is that this is an area that is still very much in its growth phase. And that means there is no lack of companies that you can find to trade in this sector. To help you get started, we’ve put together this special presentation that highlights seven such companies and the reasons why we believe they merit adding to your portfolio.

View the "7 Internet of Things Stocks That Are a Perfect Fit to Our Connected Future".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.