General Electric (GE) Projected to Release Quarterly Earnings on Thursday

General Electric (NYSE:GE - Get Free Report) will likely be releasing its earnings data before the market opens on Thursday, January 23rd. Analysts expect General Electric to post 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.Individual interested in participating in the company's earnings conference call can do so using this link.

General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 earnings per share. 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 Performance

GE stock traded down $0.55 during trading hours on Thursday, reaching $179.75. The stock had a trading volume of 6,140,679 shares, compared to its average volume of 5,484,228. The stock has a 50-day simple moving average of $174.36 and a 200 day simple moving average of $173.79. General Electric has a fifty-two week low of $100.95 and a fifty-two week high of $194.80. The stock has a market capitalization of $194.54 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric Announces Dividend

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

Insider Activity at General Electric

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They set a "neutral" rating on the stock. Bank of America raised their price target on General Electric from $180.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price target on shares of General Electric from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $201.47.

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.