Zacks: Brokerages Expect General Electric (NYSE:GE) Will Announce Quarterly Sales of $29.09 Billion

Brokerages expect that General Electric (NYSE:GE) will announce $29.09 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for General Electric’s earnings. The highest sales estimate is $29.59 billion and the lowest is $28.80 billion. General Electric posted sales of $29.57 billion in the same quarter last year, which would indicate a negative year over year growth rate of 1.6%. The firm is scheduled to report its next earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that General Electric will report full year sales of $117.56 billion for the current financial year, with estimates ranging from $115.98 billion to $118.57 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $97.97 billion, with estimates ranging from $88.19 billion to $118.99 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for General Electric.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The firm had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.83 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. General Electric’s quarterly revenue was down 1.1% on a year-over-year basis.

A number of equities research analysts recently issued reports on GE shares. Cowen reissued a “hold” rating and issued a $8.00 price objective on shares of General Electric in a report on Wednesday, May 1st. Citigroup set a $14.00 price objective on shares of General Electric and gave the company a “buy” rating in a report on Friday. Deutsche Bank set a $10.00 price objective on shares of General Electric and gave the company a “hold” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a report on Wednesday, July 31st. Finally, ValuEngine cut shares of General Electric from a “hold” rating to a “sell” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. General Electric has an average rating of “Hold” and an average target price of $11.68.

In other news, Director Edward P. Garden sold 1,289,538 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the sale, the director now owns 25,000 shares of the company’s stock, valued at $250,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward P. Garden sold 3,370,314 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $9.53, for a total transaction of $32,119,092.42. The disclosure for this sale can be found here. Insiders have bought 794,568 shares of company stock worth $6,904,045 in the last three months. Corporate insiders own 1.13% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Ashburton Jersey Ltd acquired a new position in shares of General Electric in the 2nd quarter valued at about $25,000. Employers Holdings Inc. purchased a new stake in shares of General Electric during the second quarter valued at $28,000. Fusion Family Wealth LLC lifted its holdings in shares of General Electric by 10,516.0% during the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 2,629 shares during the last quarter. Arbor Wealth Management LLC purchased a new stake in shares of General Electric during the fourth quarter valued at $30,000. Finally, Manchester Financial Inc. purchased a new stake in shares of General Electric during the second quarter valued at $30,000. 58.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of GE traded down $0.27 during mid-day trading on Friday, reaching $8.40. The stock had a trading volume of 66,219,017 shares, compared to its average volume of 93,073,232. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.44. General Electric has a 52-week low of $6.66 and a 52-week high of $13.78. The business’s fifty day moving average is $9.94 and its 200 day moving average is $9.95. The firm has a market cap of $76.71 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.90 and a beta of 1.03.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 1st were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.48%. General Electric’s dividend payout ratio is presently 6.15%.

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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