General Electric (GE) Expected to Announce Quarterly Earnings on Thursday

General Electric (NYSE:GE) is expected to announce its earnings results before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $1.05 per share and revenue of $9,681,229.07 billion for the quarter. General Electric has set its FY 2024 guidance at 4.200-4.350 EPS and its FY24 guidance at $4.20-4.35 EPS.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts expect General Electric to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

General Electric Stock Up 2.0 %

GE stock opened at $180.34 on Thursday. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $195.18 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. The business’s 50-day simple moving average is $174.37 and its 200 day simple moving average is $173.74.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent research reports. Melius Research upped their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Northcoast Research started coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Wells Fargo & Company upped their target price on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada cut their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

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.