General Electric Company (GE) Issues Earnings Results, Beats Estimates By $0.04 EPS

General Electric Company (NYSE:GE) announced its quarterly earnings results on Friday. The conglomerate reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. The firm earned $27.66 billion during the quarter, compared to the consensus estimate of $26.37 billion. General Electric Company had a return on equity of 15.99% and a net margin of 6.86%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 earnings per share. General Electric Company updated its FY17 guidance to $1.60-1.70 EPS.

General Electric Company (NYSE:GE) traded down 0.66% on Friday, reaching $30.07. The company’s stock had a trading volume of 11,496,935 shares. The firm has a 50-day moving average price of $29.83 and a 200 day moving average price of $30.22. General Electric Company has a 52-week low of $28.19 and a 52-week high of $33.00. The firm has a market capitalization of $262.35 billion, a P/E ratio of 33.67 and a beta of 1.20. General Electric Company also saw unusually large options trading on Thursday. Traders bought 2,590 call options on the company. This is an increase of approximately 143% compared to the typical daily volume of 1,064 call options.

Earnings History for General Electric Company (NYSE:GE)

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 25th. Shareholders of record on Monday, February 27th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, February 23rd. General Electric Company’s payout ratio is 106.67%.

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In related news, insider Jeffrey S. Bornstein bought 5,000 shares of the business’s stock in a transaction dated Tuesday, January 31st. The shares were bought at an average cost of $29.63 per share, with a total value of $148,150.00. Following the completion of the transaction, the insider now directly owns 68,757 shares of the company’s stock, valued at $2,037,269.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman David Leon Joyce sold 159,662 shares of the business’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $29.56, for a total value of $4,719,608.72. Following the sale, the insider now directly owns 738,907 shares in the company, valued at $21,842,090.92. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Several research firms have recently weighed in on GE. William Blair reissued a “buy” rating on shares of General Electric Company in a report on Saturday, April 1st. Cowen and Company reissued a “hold” rating and issued a $30.00 price objective on shares of General Electric Company in a report on Thursday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of General Electric Company in a report on Monday, April 3rd. Vetr downgraded General Electric Company from a “buy” rating to a “hold” rating and set a $30.43 price objective for the company. in a report on Friday, April 14th. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $34.00 price objective on shares of General Electric Company in a report on Tuesday, April 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $33.02.

General Electric Company Company Profile

5 Day Chart for NYSE:GE

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