General Electric (NYSE:GE) Announces Earnings Results

General Electric (NYSE:GE) issued its earnings results on Tuesday. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02, Briefing.com reports. 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 for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the firm earned $0.82 EPS. The business’s revenue was up 5.8% on a year-over-year basis. General Electric updated its FY 2024 guidance to 4.200-4.350 EPS and its FY24 guidance to $4.20-4.35 EPS.

General Electric Trading Down 0.5 %

Shares of GE opened at $180.78 on Thursday. General Electric has a fifty-two week low of $84.58 and a fifty-two week high of $194.80. The company has a market capitalization of $197.88 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The stock has a fifty day moving average of $179.51 and a two-hundred day moving average of $168.15. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric Announces Dividend

The company also recently announced 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 is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analyst Ratings Changes

A number of analysts recently commented on GE shares. Wells Fargo & Company boosted their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a report on Tuesday. Royal Bank of Canada dropped their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.