Zacks: Brokerages Expect General Electric (GE) Will Announce Quarterly Sales of $29.95 Billion

Analysts expect that General Electric (NYSE:GE) will report $29.95 billion in sales for the current quarter, according to Zacks. Four analysts have made estimates for General Electric’s earnings. The lowest sales estimate is $29.34 billion and the highest is $30.84 billion. General Electric posted sales of $29.56 billion in the same quarter last year, which suggests a positive year over year growth rate of 1.3%. The business is expected to announce its next earnings results on Friday, July 20th.

On average, analysts expect that General Electric will report full year sales of $123.38 billion for the current year, with estimates ranging from $119.09 billion to $127.07 billion. For the next financial year, analysts forecast that the business will report sales of $124.23 billion per share, with estimates ranging from $119.63 billion to $126.66 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow General Electric.

General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, April 20th. The conglomerate reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. The company had revenue of $28.66 billion for the quarter, compared to the consensus estimate of $27.26 billion. General Electric had a negative net margin of 6.16% and a positive return on equity of 11.22%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 earnings per share.

A number of research analysts recently weighed in on the stock. JPMorgan Chase set a $11.00 price objective on shares of General Electric and gave the company a “sell” rating in a research report on Tuesday. Goldman Sachs set a $14.00 price objective on shares of General Electric and gave the company a “hold” rating in a research report on Monday, April 16th. Stifel Nicolaus increased their price target on shares of General Electric from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, April 27th. Credit Suisse Group reiterated a “neutral” rating and issued a $15.00 price target on shares of General Electric in a research report on Friday, April 27th. Finally, ValuEngine downgraded shares of General Electric from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.92.

General Electric stock traded up $0.03 during midday trading on Friday, reaching $15.29. 2,535,055 shares of the company traded hands, compared to its average volume of 52,593,788. The company has a market cap of $129.98 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 2.91 and a beta of 1.02. General Electric has a 12 month low of $12.73 and a 12 month high of $29.47. The company has a quick ratio of 1.48, a current ratio of 1.76 and a debt-to-equity ratio of 1.44.

In other news, major shareholder Electric Co General sold 3,883,000 shares of the stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $15.00, for a total value of $58,245,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.12% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in GE. Boston Partners grew its stake in General Electric by 2.5% during the third quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock valued at $352,756,000 after acquiring an additional 360,154 shares in the last quarter. Gabelli Funds LLC grew its stake in General Electric by 10.2% during the third quarter. Gabelli Funds LLC now owns 2,225,000 shares of the conglomerate’s stock valued at $53,801,000 after acquiring an additional 206,644 shares in the last quarter. Brookstone Capital Management grew its stake in General Electric by 17.3% during the third quarter. Brookstone Capital Management now owns 315,454 shares of the conglomerate’s stock valued at $7,628,000 after acquiring an additional 46,415 shares in the last quarter. Hennessy Advisors Inc. grew its stake in General Electric by 36.2% during the third quarter. Hennessy Advisors Inc. now owns 328,734 shares of the conglomerate’s stock valued at $7,949,000 after acquiring an additional 87,350 shares in the last quarter. Finally, DnB Asset Management AS grew its stake in General Electric by 1.5% during the fourth quarter. DnB Asset Management AS now owns 1,178,458 shares of the conglomerate’s stock valued at $20,564,000 after acquiring an additional 17,500 shares in the last quarter. 53.88% of the stock is owned by hedge funds and other institutional investors.

About General Electric

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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Earnings History and Estimates for General Electric (NYSE:GE)

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