$29.09 Billion in Sales Expected for General Electric (NYSE:GE) This Quarter

Equities research analysts expect General Electric (NYSE:GE) to report $29.09 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for General Electric’s earnings. The lowest sales estimate is $28.80 billion and the highest is $29.59 billion. General Electric posted sales of $29.57 billion during the same quarter last year, which would indicate a negative year over year growth rate of 1.6%. The business is expected to announce its next earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that General Electric will report full year sales of $117.68 billion for the current year, with estimates ranging from $115.98 billion to $118.57 billion. For the next fiscal year, analysts expect that the firm will post sales of $102.55 billion, with estimates ranging from $88.19 billion to $120.88 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for General Electric.

General Electric (NYSE:GE) last posted its earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.05. The business had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS.

GE has been the topic of several research analyst reports. ValuEngine cut shares of General Electric from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric in a research note on Wednesday, July 31st. UBS Group cut shares of General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $11.50 in a research note on Monday, July 15th. Citigroup set a $14.00 target price on shares of General Electric and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research cut shares of General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $13.08.

GE traded up $0.08 during midday trading on Friday, hitting $9.34. 45,556,731 shares of the company traded hands, compared to its average volume of 77,846,758. The company has a quick ratio of 1.44, a current ratio of 1.73 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $79.77 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 2.04 and a beta of 1.09. The company’s 50-day moving average is $9.03 and its 200 day moving average is $9.75. General Electric has a 52 week low of $6.66 and a 52 week high of $13.78.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 16th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, September 13th. General Electric’s dividend payout ratio is 6.15%.

In other news, Chairman H Lawrence Culp, Jr. bought 331,684 shares of General Electric stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $9.04 per share, with a total value of $2,998,423.36. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Leslie Seidman bought 6,500 shares of General Electric stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $7.80 per share, with a total value of $50,700.00. Following the completion of the acquisition, the director now directly owns 6,500 shares in the company, valued at approximately $50,700. The disclosure for this purchase can be found here. Insiders purchased a total of 801,068 shares of company stock valued at $6,954,745 over the last three months. 1.13% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Bellecapital International Ltd. grew its holdings in General Electric by 166.4% during the 2nd quarter. Bellecapital International Ltd. now owns 48,990 shares of the conglomerate’s stock valued at $514,000 after buying an additional 30,600 shares in the last quarter. Resource Management LLC grew its holdings in General Electric by 22.4% during the 2nd quarter. Resource Management LLC now owns 76,386 shares of the conglomerate’s stock valued at $802,000 after buying an additional 13,977 shares in the last quarter. Comerica Bank grew its holdings in General Electric by 1.6% during the 2nd quarter. Comerica Bank now owns 1,954,457 shares of the conglomerate’s stock valued at $19,506,000 after buying an additional 31,411 shares in the last quarter. Carroll Financial Associates Inc. grew its holdings in General Electric by 13.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 117,920 shares of the conglomerate’s stock valued at $1,238,000 after buying an additional 14,033 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in General Electric by 6.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 1,474,509 shares of the conglomerate’s stock valued at $9,764,000 after buying an additional 88,000 shares in the last quarter. 59.32% of the stock is owned by institutional investors.

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

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