General Electric (NYSE:GE) Issues FY 2024 Earnings Guidance

General Electric (NYSE:GE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 4.200-4.350 for the period, compared to the consensus EPS estimate of 4.250. The company issued revenue guidance of -. General Electric also updated its FY24 guidance to $4.20-4.35 EPS.

General Electric Stock Down 0.4 %

Shares of GE stock traded down $0.75 on Thursday, reaching $180.94. 268,014 shares of the company’s stock traded hands, compared to its average volume of 6,358,742. General Electric has a 12-month low of $84.58 and a 12-month high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a market capitalization of $198.06 billion, a P/E ratio of 59.60, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The business’s 50 day moving average price is $179.51 and its two-hundred day moving average price is $168.15.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s payout ratio is 36.72%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday. Finally, Royal Bank of Canada reduced their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.93.

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.