General Electric (GE) Announces Earnings Results

General Electric (NYSE:GE) announced its quarterly earnings results on Friday. The conglomerate reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05, Bloomberg Earnings reports. The business had revenue of $28.66 billion for the quarter, compared to analysts’ expectations of $27.26 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. General Electric updated its FY18 guidance to $1.00-1.07 EPS.

General Electric stock traded up $0.55 during mid-day trading on Friday, hitting $14.54. The company had a trading volume of 188,686,041 shares, compared to its average volume of 71,814,032. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32. General Electric has a 12 month low of $12.73 and a 12 month high of $30.38. The company has a market capitalization of $126,244.66, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be paid a $0.12 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.30%. General Electric’s payout ratio is 45.71%.

In related news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction on Monday, January 29th. The shares were acquired at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the acquisition, the insider now owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.12% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Cutter & CO Brokerage Inc. lifted its holdings in shares of General Electric by 0.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after purchasing an additional 67 shares in the last quarter. NorthRock Partners LLC lifted its holdings in shares of General Electric by 0.9% during the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 80 shares in the last quarter. Shapiro Capital Management LLC lifted its holdings in shares of General Electric by 0.8% during the second quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock valued at $510,000 after purchasing an additional 147 shares in the last quarter. CFO4Life Group LLC lifted its holdings in shares of General Electric by 0.9% during the second quarter. CFO4Life Group LLC now owns 16,610 shares of the conglomerate’s stock valued at $449,000 after purchasing an additional 152 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in shares of General Electric by 0.3% during the second quarter. Sunbelt Securities Inc. now owns 54,208 shares of the conglomerate’s stock valued at $1,464,000 after purchasing an additional 176 shares in the last quarter. 56.22% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on the company. Tigress Financial reissued a “hold” rating on shares of General Electric in a research note on Thursday, December 28th. JPMorgan Chase reissued a “sell” rating and set a $16.00 target price (down from $17.00) on shares of General Electric in a research note on Monday, January 8th. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price on the stock. in a research note on Wednesday, January 10th. Deutsche Bank reissued a “sell” rating and set a $15.00 target price on shares of General Electric in a research note on Wednesday, January 17th. Finally, Vertical Research set a $18.00 target price on General Electric and gave the company a “hold” rating in a research note on Tuesday, January 16th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $17.86.

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General Electric Company Profile

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.

Earnings History for General Electric (NYSE:GE)

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One Response

  1. steve says:

    Harsco ended its merger with Brand Energy. That was smart of Harsco. Now, they should look to recover money from Brand’s ex-CEO and the ex-GE people he brought in with him.

    The CEO of Brand was negligent. He didn’t act in good faith. He brought in his friends from GE and didn’t fire them no matter what. The ex-GE guy in Houston had to be shuffled all over the country because he was despised. He was called President of Business Development. He has the polish-looking last name and was sent to Houston from California in 2011. They had to keep him on the road all the time because he couldn’t get along with anyone. Can you imagine how much that cost the company? The ex-CEO also sent him around to meet with all kinds of companies even though he was extremely obnoxious. Can you imagine how many companies he scared away and how much money was lost due to that? The ex-CEO of Brand should be held liable for this.

    Watch out for ex-GE guys. They play politics and form cliques and are a major problem in corporate America. Clayton, Dubilier, and Rice owns Brand Energy. Brand was ruined by ex-GE guys like the former CEO and the “President of Business Development” in Houston. Brand’s investors need to investigate the former executives and their spending immediately. Brand has many big, institutional investors who may want to pursue something against these guys. They misused company money.

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