General Electric Company (NYSE:GE) - Equities researchers at Oppenheimer Holdings cut their Q3 2017 EPS estimates for shares of General Electric in a report released on Monday. Oppenheimer Holdings analyst C. Glynn now forecasts that the conglomerate will post earnings per share of $0.53 for the quarter, down from their previous estimate of $0.54. Oppenheimer Holdings has a “Market Perform” rating on the stock.
Several other brokerages also recently commented on GE. Stifel Nicolaus boosted their price objective on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Deutsche Bank AG set a $24.00 price objective on General Electric and gave the stock a “sell” rating in a research note on Monday, May 29th. Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $28.47 target price on the stock. in a research note on Thursday, May 11th. J P Morgan Chase & Co reissued an “underweight” rating on shares of General Electric in a research note on Monday, April 3rd. Finally, Royal Bank Of Canada lowered their target price on General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, April 24th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.75.
ILLEGAL ACTIVITY NOTICE: “Q3 2017 Earnings Estimate for General Electric Company Issued By Oppenheimer Holdings (NYSE:GE)” was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://stocknewstimes.com/2017/07/19/q3-2017-earnings-estimate-for-general-electric-company-issued-by-oppenheimer-holdings-nysege.html.
General Electric (GE) opened at 26.89 on Wednesday. The stock has a market cap of $233.51 billion, a PE ratio of 27.38 and a beta of 1.22. General Electric has a 12 month low of $25.85 and a 12 month high of $33.00. The stock’s 50 day moving average price is $27.51 and its 200-day moving average price is $29.18.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, April 21st. The conglomerate reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $27.66 billion during the quarter, compared to the consensus estimate of $26.37 billion. General Electric had a return on equity of 16.59% and a net margin of 7.48%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS.
Several large investors have recently added to or reduced their stakes in GE. BerganKDV Wealth Management LLC increased its stake in shares of General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock valued at $319,000 after buying an additional 36 shares during the period. Insight 2811 Inc. boosted its position in shares of General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after buying an additional 118 shares in the last quarter. Blue Fin Capital Inc. boosted its position in shares of General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock worth $1,668,000 after buying an additional 158 shares in the last quarter. Smith Shellnut Wilson LLC ADV boosted its position in shares of General Electric by 0.7% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 22,582 shares of the conglomerate’s stock worth $711,000 after buying an additional 160 shares in the last quarter. Finally, Huntington Steele LLC boosted its position in shares of General Electric by 1.0% in the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock worth $495,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 54.24% of the company’s stock.
In other General Electric news, Director William G. Beattie purchased 4,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were purchased at an average cost of $27.70 per share, with a total value of $110,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jeffrey R. Immelt purchased 100,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $28.07 per share, for a total transaction of $2,807,000.00. Following the completion of the purchase, the chairman now owns 2,561,926 shares of the company’s stock, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 140,000 shares of company stock valued at $3,964,600. 0.36% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Monday, June 19th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.57%. General Electric’s payout ratio is 97.96%.
About General Electric
Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.
