General Electric (NYSE:GE – Get Free Report) released its quarterly earnings results on Tuesday. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21, Briefing.com reports. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. General Electric updated its FY24 guidance to $3.95-4.20 EPS and its FY 2024 guidance to 3.950-4.200 EPS.
General Electric Stock Performance
NYSE:GE opened at $164.71 on Friday. The stock’s fifty day moving average is $162.16 and its 200 day moving average is $156.01. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20. The firm has a market capitalization of $178.60 billion, a PE ratio of 54.00, a PEG ratio of 1.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.14.
General Electric Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.68%. General Electric’s payout ratio is presently 36.72%.
Insider Activity at General Electric
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on GE. The Goldman Sachs Group boosted their price objective on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Bank of America boosted their price objective on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada boosted their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Vertical Research assumed coverage on General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 price target for the company. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.93.
Read Our Latest Research Report on General Electric
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.
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