General Electric (NYSE:GE – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.20-4.35 for the period, compared to the consensus estimate of $4.24. General Electric also updated its FY 2024 guidance to 4.200-4.350 EPS.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group upped their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup upped 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, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.
General Electric Stock Down 0.1 %
General Electric (NYSE:GE – Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the business earned $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts predict that General Electric will post 4.2 earnings per share for the current year.
General Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.
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.
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