General Electric (NYSE:GE) Issues FY 2024 Earnings Guidance

General Electric (NYSE:GE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.800-4.050 for the period, compared to the consensus EPS estimate of 3.950. The company issued revenue guidance of -.

General Electric Price Performance

Shares of NYSE:GE traded up $8.71 during midday trading on Tuesday, reaching $158.90. 8,527,860 shares of the company were exchanged, compared to its average volume of 7,998,093. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The stock has a market cap of $173.72 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 2.92 and a beta of 1.29. The business’s fifty day moving average is $159.52 and its two-hundred day moving average is $135.03. General Electric has a one year low of $76.87 and a one year high of $160.02.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. As a group, analysts predict that General Electric will post 3.76 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. General Electric’s payout ratio is 13.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GE shares. Royal Bank of Canada dropped their price target on shares of General Electric from $180.00 to $160.00 and set an outperform rating for the company in a research note on Thursday, April 4th. The Goldman Sachs Group began coverage on shares of General Electric in a report on Tuesday, April 9th. They issued a buy rating and a $190.00 price target for the company. StockNews.com began coverage on shares of General Electric in a report on Sunday. They issued a hold rating for the company. Bank of America reduced their price target on shares of General Electric from $175.00 to $165.00 and set a buy rating for the company in a report on Monday, April 8th. Finally, TD Cowen upgraded shares of General Electric from a hold rating to a buy rating and boosted their price target for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $160.07.

Insider Activity

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.