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

General Electric (NYSE:GE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.800-4.050 for the period, compared to the consensus EPS estimate of 3.950. The company issued revenue guidance of -.

General Electric Stock Performance

Shares of NYSE GE traded up $10.70 during mid-day trading on Tuesday, hitting $160.89. The company had a trading volume of 9,121,787 shares, compared to its average volume of 8,002,762. The stock’s 50-day moving average price is $159.52 and its 200-day moving average price is $135.03. 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 market capitalization of $175.90 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 2.92 and a beta of 1.29. General Electric has a 1 year low of $76.87 and a 1 year high of $160.89.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that General Electric will post 3.76 earnings per share for the current 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. The ex-dividend date is Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. General Electric’s payout ratio is currently 13.38%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on General Electric from $180.00 to $148.00 and set an overweight rating on the stock in a research report on Tuesday, April 2nd. Wells Fargo & Company lowered their price target on General Electric from $200.00 to $165.00 and set an overweight rating for the company in a research report on Thursday, April 4th. Oppenheimer restated a market perform rating on shares of General Electric in a research note on Tuesday, March 5th. StockNews.com began coverage on shares of General Electric in a research report on Sunday. They set a hold rating on the stock. Finally, TheStreet raised General Electric from a c+ rating to a b+ rating in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $160.07.

Insider Buying and Selling at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now 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. Company insiders own 0.66% of the company’s stock.

About General Electric

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.