General Electric (NYSE:GE) Issues Earnings Results

General Electric (NYSE:GE) posted its quarterly earnings data on Tuesday. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02, Briefing.com reports. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 EPS. 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 Price Performance

NYSE GE opened at $176.66 on Wednesday. The company has a market cap of $193.37 billion, a P/E ratio of 57.90, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a 1 year low of $84.58 and a 1 year high of $194.80. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $179.24 and a 200 day simple moving average of $168.05.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday. Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.53.

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.