General Electric Expected to Post Q3 2018 Earnings of $0.25 Per Share (GE)

General Electric (NYSE:GE) – Research analysts at Oppenheimer lifted their Q3 2018 EPS estimates for General Electric in a research note issued on Monday, April 2nd. Oppenheimer analyst C. Glynn now anticipates that the conglomerate will post earnings of $0.25 per share for the quarter, up from their previous forecast of $0.24.

General Electric (NYSE:GE) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The business had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. During the same quarter in the prior year, the company earned $0.46 EPS. The company’s revenue was down 5.1% on a year-over-year basis.

Several other equities research analysts have also commented on GE. Morningstar set a $23.50 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price on the stock. in a research report on Wednesday, January 10th. Citigroup decreased their target price on shares of General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. TheStreet cut shares of General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. Finally, Barclays assumed coverage on shares of General Electric in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $16.00 target price on the stock. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and a consensus target price of $18.09.

GE opened at $13.06 on Thursday. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32. General Electric has a fifty-two week low of $12.73 and a fifty-two week high of $30.54. The stock has a market capitalization of $115,304.61, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is presently 45.71%.

In other news, insider Alexander Dimitrief purchased 2,689 shares of the business’s stock in a transaction on Monday, January 29th. The shares were acquired at an average price of $16.16 per share, with a total value of $43,454.24. Following the acquisition, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.12% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in GE. Toronto Dominion Bank boosted its stake in General Electric by 21.3% during the second quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock worth $91,179,000 after acquiring an additional 593,686 shares in the last quarter. Palouse Capital Management Inc. boosted its stake in General Electric by 5.4% during the third quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock worth $4,608,000 after acquiring an additional 9,755 shares in the last quarter. Destination Wealth Management boosted its stake in General Electric by 5.6% during the second quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock worth $20,938,000 after acquiring an additional 41,100 shares in the last quarter. Boston Partners boosted 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 worth $352,756,000 after acquiring an additional 360,154 shares in the last quarter. Finally, Berkshire Asset Management LLC PA boosted its stake in General Electric by 4.0% during the third quarter. Berkshire Asset Management LLC PA now owns 958,533 shares of the conglomerate’s stock worth $23,177,000 after acquiring an additional 36,870 shares in the last quarter. 56.30% of the stock is currently owned by hedge funds and other institutional investors.

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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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