General Electric (NYSE:GE) Updates FY 2024 Earnings Guidance

General Electric (NYSE:GE - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.800-4.050 for the period, compared to the consensus earnings per share estimate of 3.950. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TheStreet upgraded General Electric from a c+ rating to a b+ rating in a report on Tuesday, January 23rd. TD Cowen upgraded General Electric from a hold rating to a buy rating and upped their price objective for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Vertical Research started coverage on General Electric in a research report on Thursday, April 4th. They set a buy rating and a $160.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $210.00 to $190.00 and set a buy rating on the stock in a research report on Wednesday, April 3rd. Finally, Barclays reduced their price objective on shares of General Electric from $181.00 to $175.00 and set an overweight rating for the company in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $160.07.

General Electric Stock Performance

Shares of GE stock traded up $12.43 during trading hours on Tuesday, hitting $162.62. The company's stock had a trading volume of 19,036,432 shares, compared to its average volume of 8,137,180. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average of $159.52 and a 200 day moving average of $135.03. The stock has a market cap of $177.79 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.92 and a beta of 1.29. General Electric has a 12-month low of $76.87 and a 12-month high of $163.65.

General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analysts' expectations of $15.25 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. On average, sell-side analysts forecast that General Electric will post 3.76 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, April 12th. This is a positive change from General Electric's previous quarterly dividend of $0.08. General Electric's dividend payout ratio (DPR) is 13.38%.

Insiders Place Their Bets

In other news, SVP Michael J. Holston sold 13,601 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company's stock, valued at $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Michael J. Holston sold 22,055 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares of the company's stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares of the company's stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.