General Electric (GE) Set to Announce Quarterly Earnings on Tuesday

General Electric (NYSE:GE) is scheduled to be announcing its earnings results before the market opens on Tuesday, July 23rd. Analysts expect the company to announce earnings of $0.96 per share for the quarter. General Electric has set its FY 2024 guidance at 3.800-4.050 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. 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 Price Performance

Shares of NYSE:GE opened at $159.13 on Monday. The firm has a 50 day moving average of $161.80 and a 200-day moving average of $155.32. The stock has a market capitalization of $174.19 billion, a PE ratio of 52.17, a PEG ratio of 1.68 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. General Electric has a 12 month low of $84.42 and a 12 month high of $170.80.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, July 11th. General Electric’s payout ratio is presently 36.72%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GE shares. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and upped their price objective for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Argus boosted their target price on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company boosted their target price on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Bank of America boosted their target price on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.93.

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.