General Electric to Post FY2022 Earnings of $1.40 Per Share, Gabelli Forecasts (GE)

General Electric (NYSE:GE) – Stock analysts at Gabelli raised their FY2022 earnings per share (EPS) estimates for General Electric in a research report issued to clients and investors on Wednesday, October 31st. Gabelli analyst J. Bergner now expects that the conglomerate will post earnings per share of $1.40 for the year, up from their previous forecast of $1.38. Gabelli currently has a “Buy” rating and a $21.00 target price on the stock.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.06). General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The business had revenue of $29.57 billion for the quarter, compared to analysts’ expectations of $30.08 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year.

A number of other research analysts also recently commented on the stock. Barclays reduced their price objective on shares of General Electric from $16.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 31st. Deutsche Bank reduced their price objective on shares of General Electric from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. Credit Suisse Group reiterated a “neutral” rating and issued a $12.00 price target on shares of General Electric in a research note on Wednesday, October 31st. UBS Group upgraded General Electric from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Wednesday, October 31st. Finally, JPMorgan Chase & Co. set a $10.00 price target on General Electric and gave the stock a “sell” rating in a research note on Wednesday, October 31st. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.94.

NYSE GE opened at $9.29 on Monday. General Electric has a 12 month low of $9.06 and a 12 month high of $20.75. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.51 and a current ratio of 1.66. The firm has a market cap of $80.66 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 2.40 and a beta of 0.95.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Monday, September 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 5.17%. General Electric’s dividend payout ratio (DPR) is 45.71%.

A number of large investors have recently bought and sold shares of the stock. Fusion Family Wealth LLC boosted its position in shares of General Electric by 153.3% during the second quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock worth $112,000 after buying an additional 5,002 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in shares of General Electric during the first quarter worth approximately $116,000. Beech Hill Advisors Inc. acquired a new position in shares of General Electric during the third quarter worth approximately $119,000. Archford Capital Strategies LLC acquired a new position in shares of General Electric during the first quarter worth approximately $121,000. Finally, LVW Advisors LLC acquired a new position in shares of General Electric during the third quarter worth approximately $127,000. Institutional investors and hedge funds own 53.75% of the company’s stock.

About General Electric

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: Price to Earnings Ratio (PE) Basics

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

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