General Electric (NYSE:GE – Get Free Report) released its earnings results on Tuesday. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21, Briefing.com reports. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 14.59% and a net margin of 7.66%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. General Electric updated its FY24 guidance to $3.95-4.20 EPS and its FY 2024 guidance to 3.950-4.200 EPS.
General Electric Trading Up 1.5 %
NYSE GE traded up $2.41 on Thursday, reaching $164.71. The company had a trading volume of 8,787,812 shares, compared to its average volume of 7,164,558. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a 52 week low of $84.42 and a 52 week high of $177.20. The stock has a market cap of $180.29 billion, a price-to-earnings ratio of 53.99, a PEG ratio of 1.82 and a beta of 1.21. The stock’s 50 day moving average is $162.08 and its 200-day moving average is $155.95.
General Electric Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.
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Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America boosted their price target on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group lifted their price objective on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and boosted their target price for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.93.
Read Our Latest Stock Report on General Electric
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.
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